Commercial Property Ownership

[ChappersSays]

My wife owns 25% of 5 commercial properties in London, which she inherited. The will has just been executed. She wants to get out of these properties to get her inheritance. However, her uncle has control over the properties and does not share information, and is not able to buy her out. He is also not in a rush to sell them whereas my wife is. He has agreed to sell one of the properties, but nine months later it hasnt sold. The uncle uses an old agent friend to market the properties, but this is just a board above a shop, not on property portals. The uncle is also travelling a lot and doesnt reply very often to questions. My wife is now tired of the whole thing and looking to get out asap. What can she do?

[atticus]

Your wife has her inheritance - a share in the equity of these properties. She now wishes to realise that interest.

If the other party will not buy her out, then your wife may be able to bring court action under the Trusts of Land and Appointment of Trustees Act 1996 seeking an order requiring the properies to be sold. That may help the other party get his act together.