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Re: Holding a Tapu - Who's got yours?
Surely if the company held all the properties then they are not owned by a single person and each property is partly owned therefore by every shareholder. If someone wanted to sell their property they would need approval by all of the board members before that sale could procede, ie anyone within the company could halt anyone elses sale for whatever reason they wanted - even as a result of petty arguments in the past - or worst case out of 'whats in it for me'. I've seen a few sales halted because of multiple names on a TAPU for these very reasons.
The company would also have to ensure that no single person had the ability to disolve of company assets otherwise a wayward MD could make themselves quite a profit.
Also consider the tax implications on the company for disposing of any assets, any taxes would be due from the company and not from individual disposals.
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