We are often asked is a company share purchase any different to a purchase of any other residential property?

The answer is yes. Company share flats work differently to other property purchases which you may have come across previously.

Instead of taking title to the land, you are purchasing shares in a company. The company owns the property and as a shareholder you are granted rights to live in the flat, known as occupation rights.

There are a lot of lengthy documents to get through such as the Occupation Licence, the Company Constitution and Company minutes. These documents can often be difficult to navigate.

So, what do you need to look for? What do you need to know?

Collins and May have an experienced team of legal advisors to guide you

Our team have extensive experience in reviewing company share documents and are here to advise you so you can better understand the process and the documents you are signing.

From signing the offer, to explaining the documents, and completing settlement. We will

  • Review the documents and explain them to you in plain English, so you don’t have to worry about difficult legal language.
  • Let you know what you need to look out for and what questions you should ask the agent to ensure you are entering a contract that you are happy with.
  • Help with your financing requirements. We can contact your bank or broker to explain the form of ownership and streamline the approval process. This form of ownership is unique, and the bank security requirements are different. For this reason, some banks will not lend for the purchase of company shares.

Let us help you into your new home and take the stress out of the process for you!

Let us know what we can do to help. Whether it’s ringing the agent or talking to your broker to check the financing requirements, we can take care of this for you. If you have any questions at any time, we are happy to have a chat.