Special Articles of Association are drawn up to allow the Company to own, manage and administer the property or development, which is normally divided into several dwelling units or flats, with each leaseholder owning a share in the company.
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The leaseholder is normally obliged to transfer ownership of the share to a new leaseholder if the property is disposed. In cases where there are several tenants flat management companies are sometimes formed to manage and protect the interest of the persons holding leases.
As a limited company the company must comply with basic company legislation - i.e. maintain a company register, hold an AGM, elect a board or directors, record minutes etc.
Where appropriate the company is responsible for ensuring that suitable arrangements are in place for the future management and maintenance of areas of open space and internal communal areas. These areas of open space are provided as an integral part of new residential developments, and they must be maintained within environmental principles of conservation.
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| Name | Price | Purchase |
| Standard Limited Company Package | 110.00 | |
| Bronze Limited Company Package £130 | 130.00 |
