Going half in a IP

Discussion in 'Loans & Mortgage Brokers' started by MyDarlinghurst, 27th Dec, 2017.

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  1. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    How do you force someone to do something?

    For example if one wants to sell and the other doesn't. The only way to proceed is to wait it out or apply to the supreme court to appoint a trustee - which would cost $20k upwards.

    Legal Tip 70: Two owners of a property - one wants to sell the other doesn't Legal Tip 70: Two owners of a property - one wants to sell the other doesn't
     
    Terry_w, 3rd Jan, 2018
    #21
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  2. Trainee

    Trainee Well-Known Member

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    Legal agreements are only as good as how much your willing to spend on lawyers.
     
    Trainee, 3rd Jan, 2018
    #22
  3. Boston george

    Boston george Active Member

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    You have answered your question perfectly on how to ‘force’ something.
    People are ‘encouraged’ to do things through consequence. The consequence being the loss of a substantial amount of money and time in the courts. This is why most disputes are settled outside.
     
    Boston george, 3rd Jan, 2018
    #23
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