Getting vesting started

Originally Published 05 May 2011

If you own an apartment in a complex which is still run by the developer, there’s a good chance that they still own everything – the land, the structure, the car park and everything else. Your first step towards taking control is making sure that they transfer ownership of the common areas to the management company. This is absolutely essential and thanks to the MUD Act, it’s now the law.

Not all developers know the law and some of them might be a little slow in complying with it. Although the law says that they must have transferred by 1st September 2011, you’ll want to make sure that they don’t try to wriggle out of it so we’ve prepared this letter for you.

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Vesting-Letter-AON-members 2011-05-05

Now you only need to do two things:

Replace the last line of the letter with your name, the name of the committee members of a residents association or the names of the directors of the management company.

Then you need to find the registered office for your developer. The easiest way to do this is to go to the CRO website and type in the name of your developer. It will return any possible companies and their registered offices.

Then just drop it in the post.

One thought on “Getting vesting started

  1. I have applied to c court u der s24 for order that development in chapel.farm is a s5 one the developer was put into receivership 11 days after 30/9/11 (says something ) and then bank went on to have liquidator appt by h court.

    Definition of developer in the act is ‘ the person ‘ For sake of clarity and costs of applicants one amendment of act be definition of developer to include companies and directors of them. And indeed partnerships

    V nb in case of companies in liquidation where directors can hide behind veil and receivers and liquidators to avoid obligations under s5 and s7 of mud ac many of whom holding on to land to get better deal before requesting county councils to come on never mind transferring common Ares to OMC.

    councils not exercising power of acquisition under S45 of planning and development act 00. I refer to the list of completed yet not taken in charge estates

    Like

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