Tenants in common and co-owner can't be contacted.

Viewing 6 posts - 1 through 6 (of 6 total)

superAndrew
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@superandrew
Join Date: 2014
Post Count: 188
January 14, 2016 - 6:37 pm
50/50 ownership split on qld property. Co-owner cannot be contacted and hasn’t been paying land tax/fees for over 2 decades. Anyone come across this before? What are the options in this situation?
Cheers
Andrew
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Terryw
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@terryw
Join Date: 2001
Post Count: 16,213
January 14, 2016 - 11:53 pm
Apply to the supreme court to appoint a trustee and have the trustee force a sale of the property. This is needed because both parties are needed to sell. The other owner could also be dead. If that is the case their executor needs to be tracked down, or someone has to apply for probate or administration. Their estate can be sued for their share of the fees and land tax too.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
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superAndrew
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@superandrew
Join Date: 2014
Post Count: 188
January 15, 2016 - 7:50 am
Thanks @terryw. I should have also mentioned that the owner is a private company that was deregistered in 1995.
Can they be sued for all the fees and taxes already paid?
superAndrew | Property Analyser and Finder Tool
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Terryw
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@terryw
Join Date: 2001
Post Count: 16,213
January 15, 2016 - 11:04 am
You can’t sue a company that no longer exists. Where a company is deregisered and it owns property this property vests in ASIC http://www.austlii.edu.au/au/legis/cth/consol_act/ca2001172/s601ad.html
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
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Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
superAndrew
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@superandrew
Join Date: 2014
Post Count: 188
January 28, 2016 - 2:45 pm
@terryw would a claim for Adverse Possession be possible in this situation? The full rates have been paid by the owner claiming adverse possession. The deregistered company has never paid any of the rates or has had any involvement with the property.
superAndrew | Property Analyser and Finder Tool
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Terryw
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@terryw
Join Date: 2001
Post Count: 16,213
January 28, 2016 - 2:53 pm
Interesting question – I am not sure of the answer, but possibly.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
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Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au