How joint tenancy and tenancy in common disputes are resolved?

How joint tenancy and tenancy in common disputes are resolved?

Rights of a Joint Tenant Where a breakdown in the relationship occurs, one or both of the co-owners may want to sell the property and part ways. Joint tenants can resolve their dispute by either: selling to a third party, or. one tenant selling their interest in the property to the other.

What to do in a shared ownership dispute in South Australia?

If there is no agreement in this regard, for example if neither co-owner is ready, willing and able to buy out the other co-owner, then an application can be made to the Supreme Court of South Australia for an order for “partition” and sale of the property.

Can a joint tenant or tenant in common sell a property?

It is possible for a joint tenant or tenant in common to sell or dispose of their respective interests in the property.

Can a dispute arise between co owners of real estate?

As often happens in life, especially when families, business partners and valuable assets such as land are concerned, disputes can arise between co-owners of real estate.

What happens if you and your partner own a property together?

If you and your partner own a property as ‘Joint Tenants’, you both own 100% of the property – there is no divisible share. If one of you dies, the other continues to own the whole of the property. What are ‘Tenants in Common’?

How is a property co ownership dispute settled?

Co-ownership disputes may be settled through one owner buying the other out, or an agreement to sell the property. A knowledgeable attorney can advise about the advantages and disadvantages of partition actions and other options available to feuding co-owners.

If there is no agreement in this regard, for example if neither co-owner is ready, willing and able to buy out the other co-owner, then an application can be made to the Supreme Court of South Australia for an order for “partition” and sale of the property.

When to file a partition action in a property dispute?

The threat of a partition action should cause both owners to carefully consider alternatives.   Partition actions should be filed only when discussions and/or mediation cannot resolve the disagreement. Co-ownership disputes may be settled through one owner buying the other out, or an agreement to sell the property.

It is possible for a joint tenant or tenant in common to sell or dispose of their respective interests in the property.