imalwayshappy
Registered User
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Hi,
A colleague of mine has a large commercial property in in Carlow. The two Directors purchased the property 2 years ago to house their business. Both are on the deeds etc. One Director has since retired. The commercial lease is up next month and the relationship has broken down between the Directors. What rights does the retired Director have when it comes to the property? The fear is now that the Director of the company (who is the tenant and 50% owner of the property) might look at getting favorable rent etc. what options are open to the retired Director assuming that the tenant has no interest in buying him out of his share of the property? If they can't reach agreement on normal lease terms what happens next?
Thanks
A colleague of mine has a large commercial property in in Carlow. The two Directors purchased the property 2 years ago to house their business. Both are on the deeds etc. One Director has since retired. The commercial lease is up next month and the relationship has broken down between the Directors. What rights does the retired Director have when it comes to the property? The fear is now that the Director of the company (who is the tenant and 50% owner of the property) might look at getting favorable rent etc. what options are open to the retired Director assuming that the tenant has no interest in buying him out of his share of the property? If they can't reach agreement on normal lease terms what happens next?
Thanks