ok thanks

Sorry I should have added that this Property unit trust is owned by two couples and the other couple have been contacting our agent (of whom we pay all agency mgt fees personally ourselves) and demanding how the agency is to manage the property.  We hired the agent so that we did not have to deal with the other couple as much anymore as the…[Read more]

Thanks Scott. Your opinions are exactly how I see it too. We just want to move ahead and get on with our lives. We are willing to take some losses if it comes to selling, but the other party doesn't want to. I can see their way, but if my husband and I became bankrupt or separated then we would be faced with this very same situation anyway. Cheers

Thanks TerryW,Yes my husband and I are trying to resolve this as best as we can, and yes ownership is 50-50. There is a statement in the trust:Unit holders not liable to indemnify trustee:"No unit holder shall be under obligation to indemnify the Trustee or any creditor against any liability or obligation incurred by the Trustee in the exercise of…[Read more]

Hi TerryW,The trust is a unit trust, which is owned by each of our respective family trusts. In the unit trust all 4 people are trustees.Cheers