Selling a property that you own is generally a straightforward business. Matters are more complicated when it is owned jointly with another partner, though. One question that we encounter a lot is whether it is possible to force a sale in this situation, if the other owner refuses. That is what this blog will cover.
Can one of the owners force through a sale?
It is possible to force a sale against the wishes of the co-owner, but you will have to apply for a court order. The specific application needed is for an Order of Sale. The relevant legislation is the TOLATA, also known as the Trusts of Land and Appointment of Trustees Act 1996.
If you have a solicitor acting on your behalf, they will regard that as a last resort. They will try to mediate between you and the other owner to reach an amicable solution and will also try a Letter Before Action if that fails. This is formal notification that legal action will be pursued if no other resolution is possible.
How does the legal process work?
Once a TOLATA claim has been initiated, the court has broad discretion over the outcome. It will look at several important aspects of the case.
• What the original purpose of the property was
The court will want to know what the property was purchased for. This means did you buy it to serve as a living place for your family, or as an investment?
• The welfare of any minors
If the children of the other owner are living in the property, this can affect the decision. Courts will sometimes prevent a sale until they are 18, so that unnecessary disruption is avoided.
• The interests of creditors
If the sale is intended to pay debts to creditors – for example mortgage lenders – the courts will look at whether the proceeds will be enough to cover them.
If you need solicitors in North Wales that can help you with this process, contact Bennett Smith Solicitors now.
