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House owned by a limited company

  • 03-04-2019 4:59pm
    #1
    Reversal
    Registered Users, Registered Users 2 Posts: 405 ✭✭


    Currently looking at a property for sale by private treaty. The house has been rented out for a number of years but the EA told me it was owned by the same individual for decades.

    There was a sale registered on the property price register 48 months ago. The EA told me this was an arrangement within the family. Upon checking the land registry I see the property was transferred to a PLC 48 months ago. A solocheck suggests it is the same owner but now under a property management company.

    Is this arrangement common? Is it something as a buyer I should be concerned about? Could this make the sale anymore difficult?


Comments

  • #2
    Sleeper12
    Registered Users, Registered Users 2 Posts: 17,190 ✭✭✭✭Sleeper12


    If it is the freehold being sold then I can't see a problem.


  • #3
    Reversal
    Registered Users, Registered Users 2 Posts: 405 ✭✭Reversal


    Thanks. Out of interest, why would one set up a business and transfer their house to it?


  • #4
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,286 Mod ✭✭✭✭The_Conductor


    Reversal wrote: »
    Thanks. Out of interest, why would one set up a business and transfer their house to it?

    Inevitably its a tax arrangement- though it could make giving shares to dependents a lot more straight forward.


  • #5
    Eric Cartman
    Registered Users, Registered Users 2 Posts: 26,280 ✭✭✭✭Eric Cartman


    The_Conductor wrote: »
    Inevitably its a tax arrangement- though it could make giving shares to dependents a lot more straight forward.

    also potentially an arrangement preceeding a divorce to weather the asset from a spouse.


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