What happens if co-owners of a property disagree about whether a property should be sold?

Aug 9, 2023 | Publication

When two or more persons or entities own real estate (normally as tenants in common), one or more may wish to retain the property and another may wish to sell the property.

In these circumstances, the Conveyancing Act 1919 provides a mechanism by which trustees can be appointed to sell the property.

The trustees’ costs are normally paid for from the sale proceeds of the property (together with other sale costs).

Of course, negotiations can be entered into for one or other of the owners to buy out the share of another owner(s).

The Supreme Court of NSW deals with applications to appoint trustees to sell property in these circumstances.

For further information or to discuss your legal position, please contact us on 1800 180 500 or emailreception@mcauleylawyers.com.au

The information in this publication is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, we do not guarantee that the information in this publication is accurate at the date it is received or that it will continue to be accurate in the future. We are not responsible for the information of any source to which a link is provided or reference is made and exclude all liability in connection with use of these sources. If you do not wish to receive newsletters from us, please let us know.

Latest Insights

Webinar – How to Reduce the Risk of a Claim on Your Estate

Join us for an informative seminar on "How to Reduce the Risk of a Claim on Your Estate" via Zoom on Thursday, 5 September at 8 pm. This one-hour complimentary session, including a Q&A segment, will provide valuable insights and practical strategies to safeguard...

New Industrial Manslaughter laws in NSW

The Industrial Manslaughter Bill has passed NSW Parliament and will make industrial manslaugther an offence. According to the NSW government, since 2019 more than 300 workers have been killed in NSW.  Under the new law, a business or individual can be held...

8 Types of People that can Claim on a Deceased Estate

In New South Wales, there are many different types of people that can potentially claim on a deceased estate if, for instance, inadequate or no provision has been made for them or they are owed money by the estate (or they were owed money by the deceased).  ...

What is the difference between Joint Tenancy and Tenants in Common?

A very important difference in ownership of property where there are two or more owners is Joint Tenancy v Tenants in Common. It is essential to understand the difference when and if you buy property with another person. If you own a property as Joint Tenants and one...

New Coercive Control Laws in NSW as of 1 July 2024

From 1 July 2024, coercive control will be a crime in NSW when a person uses abusive behaviours towards a current or former intimate partner with the intention to coerce or control them. The Crimes Legislation Amendment (Coercive Control) Act 2022makes it an...

Key Rules on Discovery Procedures for Prospective Defendants

Rules 5.2 and 5.3 of the Uniform Civil Procedure Rules 2005 (UCPR) provide essential guidelines on discovery aimed at identifying or locating prospective defendants. These rules are instrumental in the pre-litigation process, ensuring that applicants can gather...