Should I sell or risk tenants buying at undervalue price?9:08 AM, 25th September 2019
About 4 weeks ago 48
I have recently purchased a property with a share of the freehold. Each flat owner is a shareholder of the company which owns the freehold, and must pay towards the maintenance of the block. The block is self-managed by a couple of the residents, and do this for free.
There are a couple of problematic shareholders who never seem to pay their complete maintenance fees. Of course, they are being sent reminder letters, but does anyone know the position legally, and how we can get paid the outstanding debts? I am guessing a letter from a solicitor is the answer, but wanted to check what laws would be applicable prior to warning of such legal action.
I find it slightly strange as it is effectively a Limited company asking for a debt to be paid by one of its Directors.
Any assistance would be appreciated.
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