Company Title

[poscash]

Hi everyone,

Wondering if anyone out there has purchased a unit that is under Company Title and if so, are there any major problems you have come across.

I am looking at some units that are a bargin area and have a yield that is 5% higher than anything else in the area but they are on Company Title.

Thanks
Kylie

[geoffw]

Check out this recent post from Brahms- http://www.somersoft.com/forums/showpost.php?p=108149&postcount=9

[asy]

The one issue you need to be aware of, which I have never heard of being used, but something to be aware exists (and can be used in your favour as well as to your detriment) is that in a company title, technically, the owners are all shareholders in the overriding company, and thus they can all VOTE whether to accept or not accept a new shareholder.

THe position this puts you in is when/if you (or a fellow shareholder) wants to sell, and the balance of the owners don't like the highest bidder at your auction (or in your sale) they can, (again TECHNICALLY) disallow them from buying shares.

an oddity, but hey, better to buy it armed with knowledge. :eek:

Must say, this wouldn't stop me buying a company title, I don't think 99.999% of the population either know or would use this point, but nice to know.

hope it helps,

asy :D

[jrc]

Look carefully at the constitution. You might find that any tenant needs to be approved.

[poscash]

Thanks everyone,

Do you still receive your rent separate or is it pooled together. I also know on this one the rates are divided up and it actually works out much cheaper.

I also read that you are expemt from Vedor Tax if on Company Title. Can anyone clear that up.

Kylie