• Adoption Of Water Pump ...Release Of Management Company

    By Guest on 23rd Aug 2016

    Please advise best course of action and potential costs regards .....
    I am one of 14 owners of a small 8yr old development. The water pump is being adopted by southern water 1st Oct '16 and subsequently we would like to "release" the management company that looks after it and set up a residents association to keep in place public liability insurance for the private road it sits on. Will deeds etc need updating.
    Best Regards

  • 1 Answers

    By Guest on 28/08/2016

    There are rules that have to followed when a company is dissolved and you should seek advice from a company law specialist. As to the deeds, check if there are restrictions on the property title in favour of the company you intend to dissolve. If there are then these will need to be amended so that the certificate of compliance can be issued by the new association you intend to form. Also, the property owners may need to enter into covenants with each other to pay any insurance/maintenance charges etc

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