Free Traffic Legal Advice

Hello,

Just wanted to get some views opinions on a 'Tenancy in common (TIC)' opportunity on an occupied residential property.

The agreement is for a 1/6th share;
* Sole resident 50%
* Resident's 3 children who hold 1/6th each (in will)


One of the children wants to sell and is offering the share at 40% under estimated value if the house was sold at market price.
This would purely be an investment with no rights of residence and I understand that none of the other parties involved can object/veto it.


My question is;
1. Are TIC agreements any good?
2. How much 'legal' work & cost would be involved with it? (solicitor fee/land registry/contracts required?)

Thanks,

Mark

Does the joint tenancy exist or is it in the will?

Hello,

Thanks for your reply.

It is specified in the will and the person selling their share has identified themselves as having probate and being the executor.

Presumably, if he has probate (as opposed to identifying as...), the sole resident is no longer resident? Or alive.

I suggest that you either seek advice from a dentist, or stop being cryptic. At the current rate, I can forsee this thread being locked/deleted very soon.

Whats cryptic?

I've been told, Father passed away and in the will left 50% share of the house to his wife and 1/6th to each child.