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Clare
Clare, Family Solicitor
Category: Family Law
Satisfied Customers: 34497
Experience:  I have been a solicitor in High Street Practise since 1985 and have specialised in Family Law for the last 10 years
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Can I sell my share of a Tenancy in Common? I have a Tenancy

Resolved Question:

Can I sell my share of a Tenancy in Common?
I have a Tenancy in Common for a property in England; registered with Land Registry April;1995
I understand we own 50% in equal share of the property and I assume this is completely unaffected by the fact I have not lived there albeit I paid the initial deposit and mortgage for many years.
I had previously request the other TiC to sell the property, but they have refused to do so.
This has been ongoing since at least October 1997.
I was then 57. I am now 76 and becoming VERY concerned with regard to passing my share to my 3 children.I note from the Land Registry "Public Guide 18 - Apr 2013" that I can:
1. give away, sell or mortgage my share.
2. If I die my share passes to my beneficiary in my Will.If I am still unable to get the other TiC to sell the property, I must safeguard my share of the property goes to my three children (all adults).
I feel that just including in my Will, it will NOT be any advantage to my beneficiaries; i.e failing to obtain a sale without expensive Court proceedings.
A. I would like to 'sell'** my share to each of the Beneficiaries in equal shares of 33-and-one-third% each of my 50%
B. Alternatively, to sell my 50% share to a third party.** "sell" as in nominal sum of £1 each. If I "give away" I fear the other TiC will somehow contest it in order to gain full, or greater, percent of the value of the property.Your advice please.
Thank you
David
Submitted: 1 year ago.
Category: Family Law
Expert:  Clare replied 1 year ago.

Thank you for your question

My name is Clare

I shall do my best to help you but I need some further informtaion first.

May I ask why you simply do not take action to force the sale?

Customer: replied 1 year ago.
Hi Clare,
Whilst forcing the sale is the main option,
I want to know how I stand with other options, as I have mentioned.
Thank you
David
Expert:  Clare replied 1 year ago.

My confusion is that all of them create the same problem

Whether you leave your share to your children in your Will or "sell" it to them the end result is the same - it is only a matter of timing.

Selling your share to a Third Party is possible - but finding someone willing to purchase it will not be easy - especially as the Transfer cannot be Registered

at the Land Registry (unless the other owner co-operates)

Accordingly either you will get less for your share than it's value - or passing the task of forcing the sale to your children.

I hope that this is of assistance please ask if you need further details

Clare and other Family Law Specialists are ready to help you
Customer: replied 1 year ago.
Hello Clare,
Yes. You basically confirmed my thoughts; which is what I needed,
The part about Third Party was new to me. In effect it would also apply if I sold to my 3 kids. The sale would have to be registered with the Land Registry.
So my path forward is now straight forward - force the sale.
Thank you very much again for your good help.
David
Expert:  Clare replied 1 year ago.

You are welcome - I hope all goes well