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JGM, Solicitor
Category: Scots Law
Satisfied Customers: 12088
Experience:  30 years as a practising solicitor.
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Hi my parents own a holiday property with a 40, 40, 20% split

Customer Question

Hi my parents own a holiday property with a 40, 40, 20% split between the three partners. If two want to sell at an agreed price (60% of the shares) does the other have to sell or can they block? Thanks Frazer
Submitted: 3 years ago.
Category: Scots Law
Expert:  JGM replied 3 years ago.
Thank you for your question.
To sell the property, all three parties have to agree. If agreement can't be reached any one or more of the parties can apply to the court to have the property sold under the supervision of the court. The court would then instruct a valuer, estate agent and solicitor to dispose of the property and account to the parties for the proceeds of sale.
I hope this helps. Please leave a positive response so that I am credited for my time.