Often people buy property together. Sometimes they do not agree about how it should be managed or if it should be sold. In some cases the property is only registered in the name of one of the buyers because they have an informal agreement that it is held for and on behalf of both buyers or for the benefit of their joint business. When the joint purpose that the property was bought for comes to an end there can be a dispute about whether the property should be sold. This can arise at the end of a business relationship where one person wants to carry on trading and the other party wants to leave and realise the value of the property or at the end of a development where one party wants to sell and the other wants it run as a buy-to-let.
In these situations there are often issues of corporate law or partnership law to deal with at the same time. Our joint specialisms in commercial and property law mean that we are well placed to quickly resolve this kind of ownership and property dispute.
In most cases of joint ownership each owner has an absolute right to have the property sold by agreement or by court order as long as such a sale does not breach the terms of any agreement the parties entered into before the dispute arose. Where a co-owner obtains a court order for sale the party who has resisted the sale is usually ordered to pay the other party’s costs. We offer a full range of funding options to pursue such cases.