ownerless property

The Crown is not obliged to deal with ownerless property in any particular way.

This guide does not cover ownerless property trade marks and copyright.

Such items are considered ownerless property and are usually free to be owned.

These assets are known as ownerless property or 'bona vacantia'.

Ownerless property can include shares in another live company that the dissolved company owned.

This right would also pass to the Crown as ownerless property or 'bona vacantia' when the company is dissolved.

Normally, the Crown gives up its right to - disclaims - the ownerless property or rights, or sells them.

The Treasury Solicitor has the power to make grants of ownerless property or 'bona vacantia'.

The Crown's right to ownerless property or 'bona vacantia' is based on two laws:

The property is then classed as ownerless property or 'bona vacantia'.

The Treasury Solicitor will usually deal with vacant land and buildings within 12 months of receiving notice that they are 'ownerless property'.

If they don't do this before the company is dissolved, all its property and rights pass to the Crown as ownerless property or 'bona vacantia'.

Gomułka asserted that:The redistribution of "ownerless property" among the people by the regime brought it broad-based popular sympathy.

Working with the public "Bona Vacantia" is the legal name for ownerless property that is passed to the Crown.

Therefore the purchase price for the freehold title is £1,000 - the minimum price for any ownerless property or 'bona vacantia'.

When a company is dissolved, the Treasury Solicitor can sell shares that have passed to the Crown as ownerless property or 'bona vacantia'.

The role of the Treasury Solicitor in the sale of shares vested in the Crown as 'ownerless property'

Before the Treasury Solicitor can deal with an ownerless property, mortgage or charge (ie 'bona vacantia') you should supply the following information:

These assets are then known as ownerless property or 'bona vacantia', and are dealt with by the Treasury Solicitor, on behalf of the Crown.

This presumption of ownership usually prevents the title to a roadway, or the land underneath it, passing to the Crown as ownerless property or 'bona vacantia'.

The Treasury Solicitor uses a formula to calculate the purchase price for the headlease of residential property vested as ownerless property or 'bona vacantia'.

Assets, including bank balances, only pass to the Crown as ownerless property or 'bona vacantia' if the former owning company did not hold them on trust for someone else.

However, sometimes the ownerless property will be sold, and the proceeds transferred to the Exchequer to be dealt with in the same way as money raised by general taxation.

If a company had a mortgage over your property at the time it was dissolved, the property is vested in the Crown as ownerless property or 'bona vacantia'.

Before the Treasury Solicitor will deal with the ownerless property or 'bona vacantia', they must be sure that the company was the owner at the time it was dissolved.