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Hi, it appears you already have a lawyer acting for you in this matter. They are much better positioned to advise you what your legal rights are in this situation, as they have access to all of the information, and have the conduct of your matter.
Having said that, can you please advise when the property is or was expected to settle? and whether your lawyer has explained the process in NSW with respect to Caveats?
Has a Caveat lapsing notice been issued?
Please read the information in this link:
I await your responses,
Yes, the removal process takes time... and also opens the possibility of litigation regarding the Caveat in the Supreme Court of NSW... if the Caveator lodges legal proceedings...
Another possible solution (if the Caveator is actually contactable, and agrees to sign both the transfer to him and to the Buyer at the same time) is whether to proceed to sever the joint tenancy between yourself and your mother, so you both own 50% each.. then to lodge a transfer of the 25% interest in the Property to the Caveator.. this would automatically remove the Caveat, and give the Caveator a right to share in 25% percent of the sale proceeds, after the costs of sale.
I am not sure how you go charging board for 12 months, if no rent was agreed.
I cannot advise much further without seeing the agreement, the Contract, the Caveat, and the correspondence sent by your lawyer, and any response from the Caveator? And this is akin to starting to act for you in the matter... with associated legal fees being charged.
As co-owners of the property,there should have been a co-ownership agreement that deals with how the property is to be sold, what happens if co-owners live in the property, etc.
Has the Caveator (as co-owner) paid his share of the mortgage payments, maintenance costs, rates, etc??
Hi, I am confused.. have you not already sold the property?
All costs of sale can be deducted - including the tile repairs.
I understand he is not on the Deed to the house... but he has a signed agreement that says he owns 25% of the property? what does this agreement say about the mortgage, rates, property maintenance? Does it say he does not have to pay?
By law, co-owners generally must account to the other co-owners in their respective % shares.
This agreement is the basis of his Caveat.
A co-owner of a property (generally even if they are not on the title) can force a property to be sold, if the other owners refuse. But, there is again, generally a process that needs to be followed.
You have stated the property has already been sold... that is why I am confused?
Thanks for the letter... everything stated therein sounds plausible.. however, I don't have a copy of the Deed that is mentioned? So I cannot advise further.
Please accept my above answers, and return to your lawyer for further advice, or advice whether you would like to retain my legal services directly.
OK, so you don't even have signed Contracts yet with your proposed Buyer. So you have not yet actually sold the property.
You need legal advice regarding the agreement that has been signed, and how much $$ the Caveator has a legal right to claim.
The legal advice can then inform your settlement negotiations, so that this matter can be resolved.
I am heading out for approx. 1 hour... I will continue this discussion when I return. Cheers, James
Hello, are you there? Cheers, James