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JGM
JGM, Solicitor
Category: Scots Law
Satisfied Customers: 11148
Experience:  30 years as a practising solicitor.
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My wife and I own 50% of a buy to let property in Scotland

Resolved Question:

My wife and I own 50% of a buy to let property in Scotland with one other person.
We would like to sell the property but the other owner has offered a derisory amount to " buy us out"
Can we force a sale of the property on the open market to achieve "fair value".
Submitted: 3 years ago.
Category: Scots Law
Expert:  JGM replied 3 years ago.
Thank you for your question.

Yes you can. The action is raised in the sheriff court and is called an action of division and sale. Between court costs and survey and agents fees, which are ordered by the court therefore fees can't be negotiated, expect to pay around £5000 - £6000 which would generally be deducted from the price achieved although you could ask th court to make the defending party bear the court costs.

I hope this helps. Please leave a positive response so that I am credited for my time.
Customer: replied 3 years ago.
Very many thanks, ***** ***** point of clarification.we currently have a short term assured tenant in the house where notice is two months. Can I serve notice to enable me to involve the sheriff court or could the other owner stymie this by not agreeing to the termination of the tenancy.
Thank you
Expert:  JGM replied 3 years ago.
You don't actually need to terminate the tenancy. You can sell the house with the tenant in it. Many landlords do. You can't terminate without the other's consent in my view.
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