How do I relinquish a management roleMake Text Bigger
I am currently the director of a small block of 6x flats in a limited company and my wife is the Secretary, we have held these positions for 7 years now and it is time for a change as apathy has set in amongst the other owners.
I have run the company well and there are no issues to worry about(other than a little bit of maintenance owed to the company) and we are solvent, but as I said its time for a change and nobody will take the reigns.
We are all leasehold but we each have a 1/6 share of the freehold of the building. We own a flat within the building and don’t wish to sell (unless to an investor) as we have a really nice tenant. I would be obliged for any advice or further questions.
Also a flat within the building is currently being sold, but I am being stalled by the sellers conveyancer as to the potential buyer as I feel it important that he is made fully aware of our impending decision, and it may be that this new purchaser might wish to run the company. I have been told that we must have a director in place even if its run by an outside company, but to be honest I have had enough.
What are my options please
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