Bona Vacantia
If your freehold company was struck off the register at Companies House more than over 6 years ago then administration restoration may no longer be possible.
In such circumstances the freehold interest of your building will be what is termed “Bona Vacantia” and enquiries would have to be made with the Treasury Solicitor’s Department to acquire interest. The Treasury Solicitor should be able to sell the interest back to the leaseholders in your building.
We regularly act for leaseholders in Bona Vacantia cases and provide guidance on whether there are more cost-efficient alternatives available to the leaseholders in requiring the freehold.
Where there is significant reversionary value in the freehold interest, then we would explore the viability of applying to Court to get the interest back without you having to buy it back for full consideration.
Where the Treasury Department has disclaimed its interest in the freehold the freehold may become subject to escheat to the Crown. We regularly act for leaseholders in such circumstances and assist them purchase the interest off The Crown.
