Currently own property with friend. Buying out help/advice.

xylophone

Tenants in common have individual rights in their property. They can dispose of their shares in it as they wish. So A can sell his interest.

But, putting the property on the market for sale affects the other co-owner. If B doesn’t want to sell the property, he could refuse to sign the property transfer document which would make it difficult to complete the sale to a buyer.

The Form A Restriction

Form A (Restriction on dispositions by sole proprietor)

No disposition by a sole proprietor of the registered estate (except a trust corporation) under which capital money arises is to be registered unless authorised by an order of the court.

mrginge

Well in theory you could offer him less than market value, since if you don't sell he'll be on the hook for additional stamp duty with his GF

G_M

mrginge wrote: »

Well in theory you could offer him less than market value, since if you don't sell he'll be on the hook for additional stamp duty with his GF

Or to put it another way, in practice you could offer less than market value for all the reasons already listed.