TOLATA
The Trusts of Land and Appointment of Trustees Act 1996 (TOLATA) gives Courts certain powers to resolve disputes about the ownership of land for unmarried couples who are separating, or two or more people who own land or a property together.
When relationships break down, if you cannot agree upon splitting the assets then this can be a difficult process. One of the parties usually move out of the property, yet both of the parties may have an equal entitlement to remain in the property. They will also want to be freed from any obligations they have on the mortgage on the property. TOLATA sets the framework for this to be dealt with.
A TOLATA claim can be issued:
- To force the sale of land or property.
- To reoccupy a former family home when an ex-partner refuses to leave.
- By persons wanting to recover their financial interest in the property.
- To determine the share, that you each own.
There are many factors which can affect the outcome of a dispute and often such cases come down to interpretation of intentions, conduct and communications. Influential factors in a TOLATA case can include:
- Whether there is a signed express Declaration of Trust, confirming the shares.
- Whether the property in question is a home or an investment
- The ‘common intention’ – i.e. an express or implied agreement between the cohabiting parties regarding their entitlement and split of the property
- All contributions to the property, both financial and otherwise.
- The welfare of any children who live at the property
Vines Legal will provide help and advice on your first free consultation and explain in full, all of the options available to you. Click here to complete our enquiries form so we can book you in for your free Consultation, or call the office today on 01246 555 610.