Can I force the sale of a joint property?

Can I force the sale of a joint property?

A If you and your co-owners are tenants in common – and so each own a distinct share of the property – then yes you can force a sale. If there is no such wording you are all joint tenants and will need to sever the joint tenancy before you are in a position to apply to a court for the “order for sale”.

Selling a co-owned property or land can be stressful, especially when the other legal owner (s) disapprove the sale. Upon the granting of the order for sale by the court, the legal owner can force for the sale of the jointly owned property.

What does jointly owned mean?

What Is Joint Owned Property? Joint owned property is any property held in the name of two or more parties. These two parties could business partners or another combination of people who have a reason to own property together.

What happens to property if co-owner dies?

If one of the co-owners dies, his share in the property does not pass to the other co-owners but to the person named in the will of the deceased. Like in case of joint tenancy, on death of one co-owner, the share of ownership automatically passes on to the surviving co-owner.

Can a jointly owned property be forced to sell?

When owners of jointly owned property can’t agree on the sale of the entire property, a partition lawsuit to force its sale may be filed.

What to do if you are joint tenant in Queensland?

In such a case, it may be necessary to make an application to the court under the Property Law Act 1974 (Qld) to have an order for partition made so that a sale can proceed.

How does the Queensland Property Law Act work?

The equivalent provision in Queensland is section 38 of the Property Law Act 1974. In both states, once the Court makes orders under the respective sections of those acts, ownership of the subject property immediately vests with the trustee or trustees which are appointed by the Court for the purpose of selling the property.

What are the rules for joint property ownership?

Joint Property Ownership When One Party Wants to Sell What are the legal rules for joint property ownership when one party wants to sell? The minority owner CAN force a sale against the will of the majority owners. The law allows any co-owner to facture the joint ownership via a partition action.