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Property Transactions

 

Using Readymade Companies in Property Transactions

Readymade companies are often used in property transactions and in other areas of business where a defined type of asset is frequently transferred or traded.

In such business exchanges a particular clean readymade company is used for one specific transaction and is then usually dissolved.

The benefit of using an off-the-shelf company in these areas of business is that the solicitor or accountant who is involved in the purchase and sale can keep a stock of companies and use each one as each new asset transfer occurs.

Clean Readymade Companies

The stock of readymade businesses would usually contain only "clean companies" which would not have any kind of trading history or other activity attached to them.

In the case of a sale of a property, the seller would transfer the property to the readymade company. The purchaser would then buy this company (which would of course now also own the property).

The purchaser would only be interested in acquiring the asset and thus must be sure that the company has not traded and did not contain any hidden debts and liabilities or charges.

Dissolving the used Company

Once the purchaser transfers have property from the ready made company, they would dissolve the entity has it would have no further use, having served its purpose of facilitating the exchange an asset from one party to another.

In this context, the actual name of the off-the-shelf company would be of no importance since it will be known only to the persons involved in the actual transaction and would have a relatively short active life.

 
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