David Gilmour, the legendary guitarist of Pink Floyd, is facing an unexpected hurdle in selling his mansion. The property, valued between £10-15 million, was originally purchased through his company, Hoveco Limited. However, when the company was dissolved in 2014, the property was not transferred to Gilmour personally. This oversight means the mansion now legally belongs to the Crown as a “bona vacantia” asset.
To resolve this, Gilmour has two options: he can either repurchase the property from the Crown at its current market value or reinstate Hoveco Limited to transfer the property to himself. This rare situation will undoubtedly cause delays in the sale process and no doubt cause a sleepless night or two.
It’s a unique reminder of the importance of keeping property ownership records accurate and up to date!
You can obtain a copy of a property’s title register from the Land Registry website for a small fee. If the registered proprietor details for your property are incorrect and you require assistance in updating them, then please contact BHW on 0116 402 9000 or email info@bhwconveyancing.com who will be pleased to assist.