• Land Transfer

    By Guest on 22nd Aug 2020

    I own a 1 Tenth share in a plot of land as a director of a Ltd company, i want to transfer my plot to to me Inivisualy, which has been agreed is this a simple process.

  • 1 Answers

    By NotaryExpress on 23/08/2020

    Check with your conveyancer how you own the share. If the company owns the land and you have a tenth shareholding then to own as an individual you would need a transfer of equity (TOE) of the land to be held 90% by the company and 10% by you as an individual with you giving up your shareholding in the company.

    If you have a tenth share through a deed of trust with your company being one tenth beneficiary under said trust then you would need a deed of variation to amend the trust replacing the company beneficiary with your name as an individual. As always, take tax advice from your accountant first.

    www.notaryexpress.co.uk

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