Bona vacantia Definition

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GLOSSARY

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What does Bona vacantia mean?

Ownerless land or goods.

Bona vacantia arise as the result either of a company being dissolved and its assets not fully distributed or as the result of a person dying intestate with no person entitled to their estate. Bona vacantia belong to the Crown. In contrast to escheat, the estate itself passes to the Crown rather than being determined. Bona vacantia are administered by the Treasury Solicitor.

View the related checklists about Bona vacantia

Voluntary striking off and dissolution—checklist

Voluntary striking off and dissolution—checklist Step Notes/Resources Tick box when step complete or matter considered Preparing for voluntary strike off and preliminary checks Check that the company has not at any time in the previous three months:(1) changed its name(2) traded or otherwise carried on business(3) made a disposal of property for value where it held that property for the purpose of making a disposal for gain in the ordinary course of business, or(4) engaged in any other activityunless it carried out any of the above activities for the purpose of making the striking off application, concluding the affairs of the company or complying with a statutory requirement (such as filing the company's accounts or confirmation statement).Where the company has carried out an activity that does not fall within one of the exceptions, it will not be permitted to make an application for voluntary strike off until the requisite period of three months has passed. CA 2006, s 1004Voluntary striking off and dissolution Is the company party to...

Limited liability partnerships—application of Companies Act 2006 to LLPs—checklist

Limited liability partnerships—application of Companies Act 2006 to LLPs—checklist The majority of law applicable to limited liability partnerships (LLPs) is actually modified company law rather than partnership law. The Limited Liability Partnerships (Application of Companies Act 2006) Regulations 2009, SI 2009/1804 (2009 Regulations) apply many parts of the Companies Act 2006 (CA 2006), with appropriate modifications, to LLPs. The 2009 Regulations also apply Parts 1, 2, 3 and 5 of the Companies (Cross-Border Mergers) Regulations 2007, SI 2007/2974 to LLPs. The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, SI 2008/1911 (2008 Regulations) apply parts of CA 2006 in relation to accounts and audit to LLPs with appropriate modifications. This Checklist sets out those provisions of CA 2006 that are applied to LLPs pursuant to these regulations. Companies Act 2006 (CA 2006), section Statutory instrument applying CA 2006 provision Subject Part 2—Company formation CA 2006, s 12A 2009 Regulations, SI 2009/1804, reg 3A (link accessible within SI 2009/1804, reg 4) (inserted by SI 2016/340, reg 5 and SI...

Bona vacantia and company property

DissolutionIf a Companies Act company (ie a company regulated by the Companies Act 2006 or any of its predecessors) is dissolved, all its property as at the moment of dissolution (together with all rights vested in, or held on trust for, but excluding property held on trust for another), passes to the Crown as bona vacantia (ie ownerless goods) under CA 2006, s 1012(1), unless the company’s registered office is located within either the Duchy of Cornwall or the Duchy of Lancaster, in which case the bona vacantia passes to that Duchy — but note that freehold land lying within the area of the Duchy of Cornwall vests in the Duke of Cornwall on dissolution regardless of where the company’s registered office may have been situated).NOTE: The Duchy of Cornwall is held by the Duke of Cornwall under a charter of 1337 (which confers the dukedom on the eldest son of the monarch and heir to the throne): it extends to the entire county of Cornwall. The Duchy of Lancaster...

Dissolution and bona vacantia—dealing with the Treasury Solicitor

Bona vacantia means ‘goods without an owner’ and is a relevant consideration where any company is at risk of being struck off and dissolved. Any assets which have not otherwise been disposed of and remain in the ownership of the company at the time of strike off or dissolution pass to the Crown bona vacantia. This Practice Note considers the practical issues arising from the perspective of a receiver appointed to (or to be appointed to) property which has vested in the Crown bona vacantia.Instances of property, land and chattels passing to the Crown bona vacantia have been on the rise. This is in part because the Registrar of Companies is able to strike off and dissolve companies that they believe are not carrying on business under section 1000 of the Companies Act 2006 (CA 2006); often, this will be where the company fails to file statutory information by a given deadline, eg annual accounts.For further information on how a company may be dissolved, see Practice Notes: Voluntary striking off...

Discover our 69 Practice Notes on Bona vacantia

Witness statement of claimant—restoration of company

Witness statement of claimant—restoration of company Filed on behalf of the Claimant Witness statement of [insert name] of [insert name of claimant] Number of witness statement: [First] Exhibit numbers: [insert number] to [insert number] Date: [insert] No. [insert number] of [insert number] In the high court of justice BUSINESS AND PROPERTY COURTS OF ENGLAND AND WALES INSOLVENCY AND COMPANIES LIST (ChD) Companies court In the matter of[insert company name][LTD OR PLC] and In the matter of the companies act 2006 _______________________________________ Witness statement of [insert name of claimant] _______________________________________ I, [insert name], of [insert home address], [insert occupation] will say as follows: The above named [insert company name] [Limited OR PLC] (the Company) was incorporated on [insert date] under the Companies Act [1985 OR 2006] as a [private OR public] company limited by shares. The Company was incorporated under the name [insert name]. There is now produced and shown to me marked [insert exhibit reference] a true copy of the certificate of incorporation [and...

Underlease of whole premises demised by headlease—part of office building—illustrative mark-up

Underlease of whole premises demised by headlease—part of office building—illustrative mark-up Precedent underlease of part-offices—whole of premises demised by Head Lease This Precedent underlease is presented as a ‘tracked changes’ PDF showing the changes made to convert a head lease to an underlease, and can be downloaded, saved or printed from this link: . NOTE: This illustrative mark-up is based upon Lease of part—offices [Archived], a previous version of our Precedent Lease of part (office). However, the purpose of this document is to demonstrate how a practitioner should approach the task of drafting an underlease and the principles remain the same. Drafting notes to Precedent Underlease of part-offices—whole of premises demised by Head Lease Caution This underlease assumes that the Head Lease is a lease of office premises forming part of a building and that the premises demised by the underlease are the whole of the premises demised by the Head Lease. It therefore incorporates service charge and insurance rent on the same terms as the Head...

Dive into our 2 Precedents related to Bona vacantia

What is the position of a security holder if the company that created the security is dissolved?

What is the position of a security holder if the company that created the security is dissolved? This Q&A focuses on the impact the dissolution of a security provider can have on the ability of a security holder to effectively enforce its security. It also considers the position of a receiver appointed by the security holder prior to the dissolution of the relevant company. Summary If a security provider is dissolved as a matter of English law it is normally still possible for the security holder to enforce the security it holds by exercising the mortgagee’s power of sale. There may be circumstances in any particular case that make an application to restore the dissolved company to the register desirable to protect the security holder’s position. Circumstances where this issue commonly arises The problems associated with a security provider being dissolved while security is in force occur most often in real estate finance and other asset finance transactions. Typically, these issues arise where a special purpose...

A liquidator has disclaimed a commercial lease following the tenant going into voluntary creditors’ liquidation. The notice of disclaimer has been issued by the liquidator and served on the relevant parties. Can the landlord take immediate possession of the premises by peaceful re-entry or does the landlord have to wait 14 days to see if any interested party applies for a vesting order before taking possession?

A liquidator has disclaimed a commercial lease following the tenant going into voluntary creditors’ liquidation. The notice of disclaimer has been issued by the liquidator and served on the relevant parties. Can the landlord take immediate possession of the premises by peaceful re-entry or does the landlord have to wait 14 days to see if any interested party applies for a vesting order before taking possession? Disclaimer is an entirely statutory procedure which is governed by the Insolvency Act 1986 (IA 1986) and the Insolvency (England and Wales) Rules 2016 (IR 2016), SI 2016/1024. In the case of liquidation, the relevant provisions are found in IA 1986, ss 178–182 and in IR 2016, SI 2016/1024, rr 19.1–19.11. Disclaimer is effected by the liquidator authenticating and dating a notice of disclaimer. Within seven business days of dating of the notice of disclaimer, the liquidator must then deliver or serve copies of the authenticated and dated notice of disclaimer to all persons who to the liquidator’s knowledge are persons interested as described...

See the 115 Q&As about Bona vacantia

Property Disputes weekly highlights—1 February 2024

This week's edition of Property Disputes weekly highlights includes: High Court decisions on consent for alterations under a lease and the validity of an assignment entered into by an attorney, an Upper Tribunal (Lands Chamber) decision on adverse possession, and the Immigration Act 2014 (Residential Accommodation) (Maximum Penalty) Order 2024.

Private Client weekly highlights—30 November 2023

This week’s edition of Private Client highlights includes: (1) STEP’s call for all jurisdictions to implement the STEP Global Representative Power; (2) the latest instalment in a series of articles on the Economic Crime and Corporate Transparency Act 2023; (3) publication of Finance Bill 2024; (4) HMRC publishes new guidance on the voluntary disclosure of cryptoasset income and gains; (5) Thandi v Saggu, which analyses the interaction between the equitable doctrines of proprietary estoppel and constructive trusts, and the formalities required by section 2 of the Law of Property (Miscellaneous Provisions) Act 1989 for a valid contract for a disposition of land, and (6) Barclays Bank UK plc v Terry, which considers the rescission of the mistaken discharge of mortgages, and alteration of the Land Register.

Read the latest 84 News articles on Bona vacantia

1012 Property of dissolved company to be bona vacantia

(1) When a company is dissolved, all property and rights whatsoever vested in or held on trust for the company immediately before its dissolution (including leasehold property, but not including property held by the company on trust for another person) are deemed to be bona vacantia and—(a) accordingly belong to the Crown, or to the Duchy of Lancaster or to the Duke of Cornwall for the time being (as the case may be), and(b) vest and may be dealt with in

1014 Effect of Crown disclaimer

(1) Where notice of disclaimer is executed under section 1013 as respects any property, that property is deemed not to have vested in the Crown under section 1012.(2) The following sections contain provisions as to the effect of the Crown disclaimer—sections 1015 to 1019 apply in relation to property in England and Wales or Northern Ireland;sections 1020 to 1022 apply in relation to property in Scotland.

Bona vacantia is referenced 3 in UK Parliament Acts

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