REAL ESTATE DISPUTE

Real Estate Dispute

Real Estate Dispute

Part A

Introduction

In this case, Charles wants to continue living in the house but Deborah would prefer it to be sold. Both of them are a couple but are not married. They have a joint ownership of the property as Albert has left his property to Deborah. In joint ownership, occurrence of such disputes is common, whether the ownership is between husband and wife, parent and children, between friends or acquaintance or others.

The house at the time of purchase was jointly owned by Albert, Barbra and Barbra's son Charles. The house, as decided by the three of them, would be a family home and a means of security for Charles for his future. Charles paid £5000 for a conservatory to be fitted to Green gables, and he regularly took responsibility for ongoing maintenance of the property. When Barbra died, she left her property to Charles. Albert met another woman, Deborah, who moved into the property along with her five year-old son, Edward. Later, Albert offered to pay a sum of money to Charles, in return for which the property would be conveyed into Albert's sole name. Charles agreed, but no figure was finalized and Charles changed his mind about the deal a few weeks later. Albert has now died, leaving all his property to Deborah. Charles wants to keep the house and continue living there but Deborah wants to sell the property.

Joint Ownership

The joint ownership is referred to the ownership of a property between two or more people. Property may relate to intellectual properties (like patents), business or a residence. Joint ownership may be a benefit for one partner if the other partner dies because in such cases the property does not have to go through the probate process. However, it can be a cause of problems in the areas of intellectual property or parent and child owned property.

Most often, the joint ownership occurs in the real estate property, in which it relates to two people owning a house. In the majority of the cases, the joint owners are a married couple but in some cases, the partners are either living together as a couple or are merely acquaintance. In the case of a married couple, the problem does not create much of a hassle as the partner is not required to wait for a probate to own the entire property.

When a spouse dies, it may be necessary to restructure finances immediately. Being able to entirely own one's home immediately assures an easy transfer of assets. Additionally, in many states, a house owned by a married couple, where one partner dies, is not considered an addition of property to the surviving owner, so no taxes are assessed to sole ownership.

In this case, Charles and Deborah are a couple but are not married. In the past years, such cases have become a lot common. The court's approach has developed a lot in such case. If a case is filed by any of the partner, negotiations would ...