Conversion of CC to Pty Ltd with a property

English: Lunt's Bridge Farm, Widnes Lunt's Bri...

On the subject of conversion of CC to Pty Ltd with a property, the concern of many is what happens to the property and how the conversion affects its ownership and legal standing.

When a CC is converted into a Pty, all of the assets and liabilities of the CC automatically become that of the Pty.

For items like fixed property, although the ownership automatically legally subsists in the Pty after conversion, you will need to supply proof of the conversion to the deeds office and mortgagor so that they can update their register/records with the new company name (if changed) and number. This process should not cost you anything.

Call your estate agent, lawyer or the deeds office to confirm that the above is currently still the procedure, then, if happy with the result, please consider applying through us to do your conversion.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s