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Retaining Ownership of Land in a Dormant Company

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  • 28-12-2021 11:39am
    #1
    Registered Users Posts: 13


    Hi, I have recently inherited a House. However, the garden attached to the House was put into a company by the now deceased. The administration of the company filings were not up kept and the company no longer exists. I am wondering if anyone could advise me on what I should do to gain ownership of the garden?

    I could do nothing as it appears to be a private garden. However, my obvious concern is that someone will manage to buy the land and build on it.

    Any advice is much appreciated.

    Thanks,

    C.



Comments

  • Registered Users Posts: 618 ✭✭✭Farcear


    If you want to buy the land you need to speak with the shareholders and/or directors of the company.

    The assets of a company which have been struck off technically vest in the Irish state but that's just an interesting fact with little practical relevance and deals are not done with the state in this way.

    There are a few different processes which can have defunct companies brought back to life. Which process and how expensive it will be will depend on how long ago the company was struck off and what work needs to be done to regularise the position. Hopefully the company was solvent (!) or things become more complicated.

    If the shares in the company went to someone else in the family, may be worth speaking to them (and your respective solicitors) to see if there is a deal to be done.



  • Registered Users Posts: 1,416 ✭✭✭Lenar3556


    Good advice above. Solicitor time!

    There may be adverse possession options depending on the circumstances, your plans, and how difficult a position that company is now in.



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