|
What happens when there is a dispute?
The Victorian Civil and Administrative Tribunal (VCAT) hears disputes between co-owners and parties can represent themselves.
It can make orders, which include partition (division) of the title or that land be sold and the sale proceeds divided.
Aggrieved co-owners may obtain an order for accounting and compensation from another co-owner.
Compensation can include the cost of rates, insurance, mortgage repayments and contribution to the purchase price or deposit.
In the majority of cases the parties dispute whether the property should be sold. Where you have someone refusing to vacate the property and it is getting messy, VCAT may order for the property to be sold.
In such cases a Rosendorff Lawyers Co-Ownership Agreement can attempt to avoid most of these issues so that it will not be necessary for VCAT to appoint an agent and a legal firm to conduct the sale.
On a number of occasions the principal registrar has been required to sign the transfer of land agreements and the sale of land agreements in the place of one of the co-owners who refused to sign, to enable the property to be sold.
The Family Court, Supreme and County courts also have property dispute jurisdictions.
|
