SMF - Just Installed!

Force a sale?

Started by monabri, April 30, 2024, 06:54:38 PM

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monabri

We own a property 50:50 with a relation. We want to sell but they refuse to even put the property on the market. They are hoping that we are desparate to sell so they can "buy us out" on the cheap - however this is NOT going to happen and we are not looking to move ourselves for a year or two so we have time on our side (even though we will soon be paying double council tax bills).

The property is sitting empty. We have signed up to sell it with a local estate agency but the relation hardly even responds to the estate agents phonecalls and emails.

Can we force a sale under TOLATA? (The other party own several other houses and other property and have no children in tow!).

The way we look at it, at the moment the property is sitting idle and we are quite prepared to spend a few thousand to take matters to court. Of course, if this results in an "auction sale", then both of us will most likely lose out financially but we are prepared for the financial hit - at leat we will be able to move on with our lives! 

HandyMan

What happened to your wife's brother's suggestion that you do a property swap to sidestep the above problem?

https://www.landlordforumproject.co.uk/finance/doing-a-swap/msg37648

monabri

When we looked into it we realised that it was going to cost US quite a chunk of money in stamp duty, solicitors fees and then finally estate agents and yet more solicitors fees to sell...just under £7k!

jpkeates

You can try and force a sale under the act, but I don't see why a court would do that. Why should your wish to sell override your co-owners desire not to sell?

The legal fees for that kind of claim are likely to cost way more than £7k

monabri

Thanks JPK

The property will just have to remain "as is". Fortunately we don't need the money and, as mentioned above,  we're in no rush.