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Ask Buachaill Your Own Question
Buachaill
Buachaill, Barrister
Category: Property Law
Satisfied Customers: 10591
Experience:  Barrister 17 years experience
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If a property is given by the parents to their children, do

Customer Question

If a property is given by the parents to their children, do the children become tenants in common? If so, does this then create a trust of land within the meaning of section 1 of the trusts of land and appointment of trustees act 1996?
Submitted: 1 year ago.
Category: Property Law
Expert:  Buachaill replied 1 year ago.
1. Can you better explain the situation. Were the children minors (under 18) at the time of making of the gift to the children? Are they minors today? What are the ages of the children today?
Customer: replied 1 year ago.
No they are all adults now and then. One tenant has started to buy the others' share in the property as agreed by all. Can they still force the sale of the property?
Customer: replied 1 year ago.
That is a sale on the open market despite a downpayment/deposit of £40.000 having been made?
Expert:  Buachaill replied 1 year ago.
2. The answers are that the children become tenants in common and secondly, there is no trust created. However, as with all property owned as tenants in common, one co-owner can force a sale to realise their interest. However, if a deposit of £40k has been paid towards a purchase, then the other co-owners are bound to complete the sale and convey the land to the purchasing co-owner, provided they come up with the remainder of the money promptly.