Transferring ownership of a house with mortgage in UK? Regardless of the complexity of the Deed of Variation, our solicitors have the experience and specialist knowledge to help you achieve an outcome that protects and fully represents you and your loved ones. We will take the time to make sure you fully understand the documentation and its objectives. We are 100% committed to ensuring each and every one of our clients receives the highest quality service and we will go the extra mile to ensure that you are happy with the results gained. We understand it can be particularly difficult to deal with matters relating to death and inheritance, and this is why our friendly and approachable team always take a sympathetic and understanding approach, ensuring that you receive the support you need.
What is a Shareholders’ Agreement? It is an agreement between all or some of the shareholders in a company. It seeks to protect the shareholders’ investment in the company, to set out the working relationship between the shareholders and to govern how the company is run. The agreement will contain rules which regulate the relationship between the shareholders. Protections for both minority and majority shareholders can be included. How does a Shareholders’ Agreement Help a Minority Shareholder? If you hold less than 50% of the shares in a company, you are a minority shareholder and you will generally have little or no say in the running of the company. As companies are generally run by majority decision, even if the articles purport to protect the minority shareholders, articles can be changed by passing a special resolution at a meeting of the members (special resolutions can be passed if 75% of the holders of shares vote in their favour). There are some laws in place which provide protection to minority shareholders.
What is an eligibility check? If you wish to transfer the ownership of a house with a mortgage to a new owner, then your lender will first need to perform an eligibility check. This enables the lender to assess whether the proposed new owner(s) of the property will be able to continue with the same mortgage. This will include whether the new owners or joint owners: Can pass a credit check, Have sufficient income to be eligible for the existing mortgage, Meet the appropriate age requirements, Have residency in the UK. What happens if the new owner fails the eligibility check? If you do not meet the requirements set out by the mortgage company, then an alternative will be to either find some way to remortgage the property or pay off the existing mortgage in order to transfer ownership.
Unafraid to stand up for what we believe in, we pursue claims thoroughly and are never deterred when hurdles arise. We like to be the ones to steer the case in the direction we want, and we keep our clients informed at every twist and turn. Our extensive understanding of the law is coupled with a wealth of business experience that stretches across all levels. This is a feature that runs through our entire team, arming us with the tools to take on cases of every complexity. Find more info at ending a commercial lease early.
What will I need to do during the rent recovery process? Blackstone Solicitors will perform the vast majority of work during the rent recovery process. We understand that chasing money can be exhausting and stressful, which is why we take appropriate steps to alleviate the burden. All we need from you are copies of: Property ownership documents, Details about the tenant, The tenancy contract, Evidence that you did not receive the money you are attempting to claim back, Evidence that the tenant left your property within the last six years.
If a Landlord wishes to end a fixed-term commercial lease early due to a Tenant breaching the lease, then they may be able to do so if there is a forfeiture clause in the lease. The procedure for forfeiture will depend on how the Tenant has breached the lease. For example, if the Tenant has not paid rent, then there is generally no need for the Landlord to serve notice on the Tenant. If the breach is of a different nature, then the landlord will have to serve a section 146 notice. Ending a commercial lease on or after the expiration of its term depends on the security of tenure. Security of tenure is the right for the Tenant to occupy business property after the lease comes to an end. Find even more info at https://blackstonesolicitorsltd.co.uk/.