I have been approached by a client who own three properties - one is owned outright and the other two have mortgages. He is wanting to form a limited company and transfer the three properties to the limited company. He wants the limited company to comprise of three shareholders/deirectors.
I beleive the long term view is expand the property portfolio via the limited company.
Is this possible and what are the implications - I have phoned a few Solicitors, but seem to be receiving rather vague responses.
Any advice would be much appreciated.