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Remus2004
Remus2004, Barrister
Category: Property Law
Satisfied Customers: 2447
Experience:  Over 5 years in practice.
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Land

Customer Question

I have a question regarding a Tomlin Order outlining somebody who is due to purchase our 50% share of land (stables) from us. However they are paying us with a bridging loan and then splitting the land and selling at a profit in order repay the bridging loan. Is this legal...there is no overage agreement to my knowledge. If the money is not paid to us by 30th June, she must provide us the property with vacant possession and allow us to sell on the open market as well as pay to us our costs of £116k

Also, if the only property she owns is currently 50% owned by me, will she need my consent to obtain a bridging loan that is secured?

Submitted: 2 years ago.
Category: Property Law
Expert:  Nicola-mod replied 2 years ago.
Hello,
I've been working hard to find a Professional to assist you with your question, but sometimes finding the right Professional can take a little longer than expected.
I wonder whether you're ok with continuing to wait for an answer. If you are, please let me know and I will continue my search. If not, feel free to let me know and I will cancel this question for you.
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Nicola
Customer: replied 2 years ago.

Hi Thanks for keeping me informed. I have managed to make other arrangements regarding advice, so if you can cancel the question for me that would be appreciated. I assume I will receive a refund on my £13 charge also? Kind Regards ***** *****

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