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A relative A owned a small ( less than 14%) share of a property, the majority being owned by a charity B which exists to enable its retired staff to access property ownership. Normally when the employee or their widow/er dies, the charity sells the property and repays the co-owner proportionately.
This didn’t happen when A died as another relative C had moved in to care for A and wanted to stay on. B created a tenancy for C on their larger share of the property. The ownership of A’s share remains in A’s estate. The beneficiaries have all agreed that C can inherit the family portion in lieu of cash.
The property has never been registered with the Land Registry.
Does the charity B have to give their consent to allow this to happen? Or could they potentially exercise a right to buy us out, or force a sale of the whole property on the open market?
This didn’t happen when A died as another relative C had moved in to care for A and wanted to stay on. B created a tenancy for C on their larger share of the property. The ownership of A’s share remains in A’s estate. The beneficiaries have all agreed that C can inherit the family portion in lieu of cash.
The property has never been registered with the Land Registry.
Does the charity B have to give their consent to allow this to happen? Or could they potentially exercise a right to buy us out, or force a sale of the whole property on the open market?