ToLATA - Rights to Property
What is ToLATA?
The refers to a legal Act called "Trusts of Land and Appointments of Trustees Act 1996"
This legal dispute is usually triggered when unmarried couples separate, which combines a Cohabitation Dispute with Dispute Resolution. With our legal expertise in both family law and dispute resolution we are equipped to give specialist advise without the need to instruct two different firms of solicitors.
Most of these disputes arise when couples sell their individual properties and buy properties together. These can include residential homes, additional properties (holiday homes, etc) or commercial premises for business purposes.
Disputes usually arise due to the amount of equity each party has invested into the properties, and splitting any gains from selling the premises. There may be a dispute due to one party refusing to leave the property and disagreements over the value of the assets.
ToLATA claims are issued to sort these legal disputes out, to either force to sale of the land or property, to agree the share each party is actually entitled to, for any other investors to get back their financial share of the asset. These could be parents, siblings, grandparents or even friends. If an agreement cannot be reached on who is entitled to what portion. More often than not the court will direct the land or property sold.
As dispute resolution experts, we will always advise on the best course of action for our client, however, without immediate (and sensible) legal advice, fees can quickly rise. Settling these disputes early is advantageous to both parties so the equity does not get lost in legal costs. Mediation and negotiation are far cheaper options that court proceedings, however, when parties are being difficult there may be no other choice.
For more expert advice please call us on 0121 355 0011.