RTE management company- share ownership

[hezekiah]

I’m a shareholder of a dormant RTE Flat Management Company .

My lease which is a far as I no is in identical form to the other 8, states : Upon any transaction by which the landlord parts with ownership of flat and parking space shall be required to and shall acquire one share in the company.

It continues :This lease is granted on condition that the tenant owns the ordinary share in the capital of the company bearing the same number as the property (the Share )

Can any tell me how a sub-tenant has become a shareholder when she only rents.


Hope I’m not boring everybody.

[jeffrey]

Short-stay sub-tenant ST should not become member of RTE Company C!

When leaseholder X buys flat [leasehold], X becomes member of C. If X then sublets to ST, X must remain a member. After all, X remains:
a. leaseholder;
b. bound by lease covenants; and
c. liable for ground rent + service charge payments.

[hezekiah]

I’ve investigated further and uncovered the following facts:

The leasehold is owned by ST’s former employer (The Church) who has granted her a 20 year occupancy of the dwelling.

Would this still be classed as a short-stay ST.


Thanks again Jeffrey.

Good luck on your next 10,000 posts.

[jeffrey]

I’ve investigated further and uncovered the following facts:

The leasehold is owned by ST’s former employer (The Church) who has granted her a 20 year occupancy of the dwelling.

Would this still be classed as a short-stay ST.

Yes, because Church is still X in my example [how appropriate!] and retains long leasehold with all its rights and obligations.