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share of freehold, companies meeting

5 replies

lovelypair · 07/01/2009 21:19

4 flats, 4 directors (all owners) of a freehold building who set up ltd company in order to transfer freehold to owners having first meeting, do we need to do anything formal? anyone know? thanks

OP posts:
wombleprincess · 07/01/2009 22:33

have you registered your company? do you have articles of association/memorandum of association or a common agreement on how you will deal with management, transfer of ownership?

jeanjeannie · 08/01/2009 13:34

Have you already transfered the freehold? Is the Ltd company all set up etc?

If that's all sorted then you will need to sort out - if you haven't already - the building insurance (commercial) and cost it out to each flat.

Have you sorted out what happens with the upkeep of the propery and how you're going to look after the exterior and common parts?

Notquitegrownup · 23/01/2009 13:54

Ooh, ladies, can I hijack this thread please, as the op seems to have disappeared.

We are in a similar situation, but it seems a nightmare to me! We do have a ltd company all set up with memo and arts and building insurance.

However, we keep running into things that we really don't understand. Are either of you au fait with company law at all?

eg. we are trying to change the memo and arts to clarify something which the solicitor left as ambiguous. (We know about special resolutions etc) However, the companies' formation person retained one share in our company (don't know why) which is written into the memo and arts. This share has now been reclaimed properly, but should we get any reference to him cut out of the memo and arts too?

or the minutes of meeting have to be kept in a minute book. Is it OK for this to be a file of typed up minutes, or does that mean notes taken during meetings?

And do you have any idea how people find out about these things without going on MN! Are there courses available as duffers guides to Company Law and our obligations (not to mention H & S!!)

It would be great to hear from you. I think we have made a lot of progress in getting our heads around this over the last year, but it is still pretty scary to realise how much we don't know.

Notquitegrownup · 23/01/2009 14:11

And when we give notice of a meeting, does it have to be in writing and posted, or can it be electronic?

Does a copy of the notice have to be retained, with a copy of the agenda/minutes?

jeanjeannie · 23/01/2009 16:20

Sorry - I've got no law experience at all I'm afraid! Sounds like you've made loads of progress though. I've been the sole freeholder in a property with two flats - which meant I didn't have to have a ltd company as it was just me. And I've owned a ltd company that I sold to my business partner - and that's as far as my Ltd company knowlegde goes.

If there is someone who had a share but is now out of the picture but still written up in the documentation then I'd check with a lawyer. I'd have thought it wise to investigate any implications - you never know - and the last thing you want is someone still hanging around on a technicality.

Personally I always emailed my tennants and sent hard copies. I also had a hard copies file - but that's just me! As a journo I'm used to keeping notes for years on end in case someone sues my a*se Personally I'd email AND write a notice of meeting - no one can claim it never arrived!

Hope it all goes well

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