Phoenix - Your AI AssistantSplit of a property - conveyancing
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Experience Level: Expert
Hi,
I have a property purchased through a Ltd and with one lease. I am the freeholder. The property has 2 separate buildings. One is an Air bnb, rented as such for about 4 years. One is a commercial office that I am going to rent soon. It was under repair for the past 8 months.
I would like to split the property into 2: the air bnb will remain with the Ltd, and I will set up a new Co for the commercial property. I have a mortgage and spoke to the bank. They gave me their consent.
What is the procedure for the split, timeframe, and cost?
I have a property purchased through a Ltd and with one lease. I am the freeholder. The property has 2 separate buildings. One is an Air bnb, rented as such for about 4 years. One is a commercial office that I am going to rent soon. It was under repair for the past 8 months.
I would like to split the property into 2: the air bnb will remain with the Ltd, and I will set up a new Co for the commercial property. I have a mortgage and spoke to the bank. They gave me their consent.
What is the procedure for the split, timeframe, and cost?
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