Club being given property
I am a treasurer of a club in the UK. The members of this club all own apartments in a complex abroad. We do have a constitution and rules but this matter is not covered.
Due to severe financial problems, one of our members can no longer afford to pay fees that the club use to pay for repairs, legal fees, security etc, and just wants to walk away without fear of future liablilty. He has offered his deeds to his property in exchange for clearing his debts.
Is this legal?
Can the UK based voluntary club take control of his property?
Who will actually own the property ie will it have to be held in trust for members and what if other members also fail to pay and then ultimately leave the club?
Thank you in advance
- Help with CGT please 24 2
- How do you find shareholders of a Cyprus Company ? 309 17
- Will I need to resign? 913 11
- Cocaine anyone? 646 11
- Lack of VAT Receipt 63 1
- HMRC won't let me set up online DD for PAYE 248 4
- Anyone using BTC Accounts Production yet? 131 4
- Accounting for cash put into Ltd 182 3
- Allocation of Receipt from DWP 175 2
- Solicitors now, Accountants next 832 11
- Depression - HMRC penalties case won because of this illness. 540 19
- How come if you claim benefits you are not entitled to you either have to pay a 50% penalty or are sent to court and either fined or sent to prison (sometimes suspended) and end up with a criminal record. 704 13
- Personal pension 441 9
- Business rates consultancy 268 4
- Wrong tax code 180 6
- Benefit in Kind 265 5
- SELLING A PROPERTY at LOSS/PROFIT - CAP GAINS ALLOWANCE 97 2
- Am I getting Soft?? 310 10
- Accountancy practices - are you closed over Christmas or do you let your staff take it off? 1,063 31
- Deferred Tax 476 8
- Hive up 513
- Accounting referance change & deficient accounts. 474
- corporate hierarchy 453
- Advice - 297
- Anyone had HMRC refusing to act on EPS database glitch? 240
- WWOOFers 235
- Art Gallery - Splitting a property between business and personal use 217
- Tax liabilities in USA for warehoused products 195
- The booking.com con 178
- UK State pension paid in NZ 167