• Does A Mortgagee In Possession Have To Sign A Stock Transfer Form Connected With The Sale Of A Leasehold Flat - If Not Who Signs The Form?

    By Guest on 19th May 2016

    A mortgagee in possession is selling one of the flats in the block I manage and they are advising that the will not sign a stock transfer form in order for the share in the Management Company to be transferred - is this correct - if so if we do not have a signed stock transfer form how do we issue the new share

  • 1 Answers

    By Guest on 30/05/2016

    The lender has the power to sell the property under the terms of the mortgage but cannot usually repossess the tenants' share in the management company so as it never owns it, it cannot transfer it. The memorandum and articles of association of the company should give the directors powers to transfer a share where the tenant parts with ownership of the flat and cannot or will not transfer his share

  • Post Your Answer


  • Do you want to be informed of further comments / replies? Yes No

Ask a Question

Search