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Ash
Ash, Solicitor
Category: Property Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
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I am a landlord of a property that is owned 30% by me and 70%

Customer Question

I am a landlord of a property that is owned 30% by me and 70% by another party; as recorded in the title deeds. I am unable to contact and have no relationship with the other party who are a disfunctional family.
The property is occupied by two 70 year olds and they have a protected tenancy.
When the occupiers die or leave the property, or the landlords otherwise gain vacant possession, there is a contractual obligation to sell the property.
The property requires some work that is the landlords responsibily. The roof and septic tank for example.
I am prepared to pay for this work to be done as long as I can recover the 70%, that is the obligation of the other landlord, at the time of the sale. It seems reasonable that some interest be charged on the money that I am effectively lending to the other landlord.
Can I protect my interest with out the cooperation of the other party?
I would like to be advised as to how best to proceed.
Submitted: 1 year ago.
Category: Property Law
Expert:  Ash replied 1 year ago.
Hello my name is ***** ***** I will help you.
In the absence of any agreement you would be entitled to 8% simple interest under S.69 of the County Courts Act. So yes you can sell the property and get an order for sale from the Court if necessary.
Then when you sell you can deduct any costs or expenses from the other persons share.
Can I clarify anything for you about this today please?
Alex
Customer: replied 1 year ago.
I can do this without any charge on the property?
Expert:  Ash replied 1 year ago.
If you have an interest and you can show the Court if necessary, then yes.
Does that help?
Alex
Customer: replied 1 year ago.
That helps.
Thanks
Peter
Expert:  Ash replied 1 year ago.
Good luck
Alex
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