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tennants in common
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peppapig14
Posts: 266 Forumite

-my mum and her partner held tennants in common on a property ( she put in 175000, he put in 50,000 ) where it stated upon selling property they would receive their monies back and any other profit would be split 50/50
-it stated if they sold whilst alive an agreement would need to he reached on the property sale price
-her partner died a few years ago and his share went to his son.
My question is:
if she sells the property now does she need his son's permission, and does he get a say in what the sale price would be ( I.e could he refuse the sale coz she wants to sell it for 200,000 to avoid him receiving an additional 50% share )
Thanks for reading
-it stated if they sold whilst alive an agreement would need to he reached on the property sale price
-her partner died a few years ago and his share went to his son.
My question is:
if she sells the property now does she need his son's permission, and does he get a say in what the sale price would be ( I.e could he refuse the sale coz she wants to sell it for 200,000 to avoid him receiving an additional 50% share )
Thanks for reading
0
Comments
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You need to download the property title from the land reg for £3 here:
https://eservices.landregistry.gov.uk/eservices/FindAProperty/view/QuickEnquiryInit.do
Who are the registered owners? Just your Mum or Mum and deceased partner or Mum and partner's son?
Now look at Part B Proprietorship Register,is the following restriction there:
RESTRICTION: 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.
Unless partner's son is listed as an owner that means your Mum is the sole legal owner but holds the property on trust for herself and partners son.
If the restriction is present she cannot sell the property alone, she needs to appoint another trustee to sell the property with her and the proceeds will be paid to the two trustees. This other person can be any adult but usually it would be the other beneficial owner ie partners son.
Is the sharing basis set out in a signed & witnessed deed of trust? If the property has increased in value then the partner's son has had a good investment getting 50% of the growth.
Your mother's actions as trustee are covered buy trust law, she (and the 2nd trustee) must act in the best interests of the beneficiaries and sell the property at full open market value. Any action on her part to try and reduce the amount available to the partner's son could see her in the dock.0
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