We’re selling our shared freehold flat. We bought our share four years ago, but the law firm our building employed to do it went bust and we’re left without a Share certificate, nor the deeds changed at the Land Registry. The four directors of the building’s freehold company (volunteers and residents of the building) all have shares but the other freeholders are awaiting theirs.
We’re selling our flat. Other residents who sold in the past were able to indemnify to cover any risk of pending Share and the Land Registry delay, and exchange and complete without problem.
Our buyer’s solicitor is saying their lender won’t lend without a Share or the Land Registry issue sorted. We’re tearing our hair out as no one will help us move either the Land Registry issue forward (another law firm is dealing with that and still hasn’t answered questions from the Land Registry that were sent on March 16) and our directors don’t know how to issue a share, so have appointed a company to do it for them, who haven’t even given a quote yet and the person dealing with it is on annual leave next week.
We were supposed to exchange A MONTH ago and we had plans that are being badly affected by the delay.
I’m told by our solicitor that issuing a share is easy and the director who has the share book should be able to just do it.
The directors are saying it isn’t easy and we have to wait.
Is it easy? If so, does anyone have experience of this?
I’m honestly losing my mind with it all. I can’t believe how stressful it is!
(In the meantime, we’re desperately trying to get our buyer’s solicitor to agree to indemnify but they now want to chat to a senior partner about it who is also on annual leave next week.)
Please help!