Anyone wanting to buy into Twenty must acquire shares in the company from an existing shareholder. Prospective shareholders must be approved by the directors as a “responsible and respectable” person before being able to take up ownership.
Shares at Twenty are in groups and each group confers the right to occupy a particular apartment.
There are other rights and obligations associated with being a shareholder at Twenty – refer to the Rules section of this website for copies of the company’s Constitution and related documents.
An application form for prospective shareholders is here: (Form S )
Shareholders wishing to renovate their apartment must first provide details to the directors and abide by the conditions of the Renovation Policy, including any special conditions attached by directors to any individual application. The Policy and the associated application form are here: (Renovation policy).
Shareholders have direct financial responsibility for repairs and maintenance relating to the parts of the building internal to the apartment they (or their tenants) occupy. As there is sometimes a misunderstanding about where the dividing line is between what is “internal” and “external”, the directors have set out a statement relating to the demarcation between company and shareholder expenses associated with each apartment (Demarcation).