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Hi,
I have a perhaps slightly niche issue I'm hoping the minds on this forum would be able to help with please?
I co-own a leisure asset (worth less than £10k) with another person, who is not a relation (they own 66.7%, me 33.3%, due to them buying out a third co-owner). They are the trustee of this asset and hold the paperwork that relates to it. There is an agreement in place that requires the asset to be kept in a usable condition, gives the co-owners equal rights over usage, and that the trustee should make the paperwork available if requested. It is for a regulated leisure activity, so without annual maintenance, a safety inspection and documentation check, the asset cannot be legally used.
Following changes in the trustee's personal life, they have moved away without providing a new address. Contact has became increasingly sporadic and has now ceased altogether. I have been in touch with their (ex) partner to see if they have any updated contact information, but they are having similar problems.
The asset has now been unusable for over a year, and was in a deteriorating condition. I have remedied this by performing the necessary maintenance and having the inspection completed, at a cost in the region of £1k, part of which included replacement of life-limited parts that might not have needed replacing had the maintenance records been available. However, without the documentation being checked, the asset still cannot be used.
I contacted the regulator to ask if they could supply me with a copy of the paperwork needed from their files, however, although they have it documented that I am a co-owner, they will only provide the documents to the registered trustee. In light of this I applied for a change of trustee on the basis the trustee has gone away, however the trustee eventually responded to them by email objecting to the change. The regulator passed them a message with my contact details asking them to get in touch to supply the paperwork, and if I could be added to the registration as a co-owner, but they have not yet responded.
While the asset remains unusable, I am covering the maintenance costs, and also ad-hoc rental costs for a replacement asset, although one is not always available, so I also have a loss of use. I have verified that insurance and storage were paid by the trustee, but these run out in the next few months and these costs may end up falling to me. The asset has been over-insured, as a significant discount is available if it is not in use.
My primary aim is to return the asset to service, or failing that, to force its sale to prevent being liable ongoing costs for something I cannot use. Are there any legal routes available in this regard? I did consider small claims, but even if I could recover some costs to date, I don't know how it would help resolve the ongoing issue?
I'd be grateful for any advice.
I have a perhaps slightly niche issue I'm hoping the minds on this forum would be able to help with please?
I co-own a leisure asset (worth less than £10k) with another person, who is not a relation (they own 66.7%, me 33.3%, due to them buying out a third co-owner). They are the trustee of this asset and hold the paperwork that relates to it. There is an agreement in place that requires the asset to be kept in a usable condition, gives the co-owners equal rights over usage, and that the trustee should make the paperwork available if requested. It is for a regulated leisure activity, so without annual maintenance, a safety inspection and documentation check, the asset cannot be legally used.
Following changes in the trustee's personal life, they have moved away without providing a new address. Contact has became increasingly sporadic and has now ceased altogether. I have been in touch with their (ex) partner to see if they have any updated contact information, but they are having similar problems.
The asset has now been unusable for over a year, and was in a deteriorating condition. I have remedied this by performing the necessary maintenance and having the inspection completed, at a cost in the region of £1k, part of which included replacement of life-limited parts that might not have needed replacing had the maintenance records been available. However, without the documentation being checked, the asset still cannot be used.
I contacted the regulator to ask if they could supply me with a copy of the paperwork needed from their files, however, although they have it documented that I am a co-owner, they will only provide the documents to the registered trustee. In light of this I applied for a change of trustee on the basis the trustee has gone away, however the trustee eventually responded to them by email objecting to the change. The regulator passed them a message with my contact details asking them to get in touch to supply the paperwork, and if I could be added to the registration as a co-owner, but they have not yet responded.
While the asset remains unusable, I am covering the maintenance costs, and also ad-hoc rental costs for a replacement asset, although one is not always available, so I also have a loss of use. I have verified that insurance and storage were paid by the trustee, but these run out in the next few months and these costs may end up falling to me. The asset has been over-insured, as a significant discount is available if it is not in use.
My primary aim is to return the asset to service, or failing that, to force its sale to prevent being liable ongoing costs for something I cannot use. Are there any legal routes available in this regard? I did consider small claims, but even if I could recover some costs to date, I don't know how it would help resolve the ongoing issue?
I'd be grateful for any advice.
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