Forcing the Sale of Property I Co-Own
if you own a share in a property, difficulties can arise if you and the other owners do not agree about how the property should be dealt with. If one owner wants to sell and the other doesn't, if family members fall out, or if one person’s circumstances change, and they need cash, the law can intervene to force the sale of the property.
These types of claims are often known as TOLATA claims, which is an abbreviation of The Trusts of Land and Appointment of Trustees Act 1996.
How Do I Sell A Property I Own A Share Of?
If you and your co-owner cannot agree how to deal with the property, you can make an application to the court under The Trusts of Land and Appointment of Trustees Act ("TOLATA"), so that the court decides what happens to the property and makes appropriate orders.
Examples of the types of TOLATA disputes that can arise are:
- how a matrimonial home should be owned;
- whether property that has been inherited by more than one beneficiary should be sold; and
- when you have made financial contributions towards the upkeep of a property and been promised that you will own a share of it one day, only to be disappointed.
In some cases, the court will be asked to decide how much of the property you are entitled to. In other cases, you may wish to seek an order for the property to be sold so that you can receive your share of the value in property in cash.
These can be complex claims and it is important to seek legal advice at the outset. Professional valuations of the property will also be required.
What's the Cost of Getting an Order for Sale of a Property?
Where you have a TOLATA claim with good prospects of success, we may agree to defer payments of our fees until the property in dispute has been sold.
In other cases, we may agree to act for you under the terms of a conditional (no win no fee) agreement, although this is not always the most cost effective way for you to instruct us. .
If you require any advice relating to a property that you own a share of, or that you think you are entitled to a share of, you should not hesitate to contact one of our expert team to find out how we can help.