Where co-owners of property held as tenants in common cannot agree on how to deal with property, in particular whether it should be sold or not, it is possible to have the property placed into the hands of a trustee for the purposes of sale pursuant to sections 37-43 of the Property Law Act. This is referred to as a partition order.
The courts will also consider equitable principals in relation to partition orders however to make allowances for the contribution of owners who have spent their own money to improve the property without contribution from the others.
In this instance the other owners will not be entitled to take their share of the increased price without making allowance in favour of the owner who paid for the improvements from their own funds. Typically the owners who spent the money will only be entitled to the lesser of the cost of the improvement of the increase in value.
We can either assist the owners in relation to seeking or defending these orders or alternatively act as the independent trustee for sale.
If we are appointed we only charge fees set by the Supreme Court of Queensland which are assessed by an independent assessor on an indemnity basis.
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