Trustees For Sale

Disputes often arise between joint owners of real property.  Sometimes those disputes cannot be resolved by the principals.  In such circumstances, it may be appropriate to make an application to the Court for Trustees to be appointed to sell the property pursuant to Section 66G of the Conveyancing Act.

 

The procedure for appointing Trustees for Sale is that one of the owners makes an application to Court.  If the Court determines it is appropriate that Trustees be appointed, then the Trustee’s powers will be set out in the Orders.  Typically the Court will appoint two Trustees. There is no requirement for Registered Liquidators or Trustees in Bankruptcy to be appointed as Trustees for Sale.

 

Following their appointment, the Trustees for Sale will:

• take possession of the property;
• formulate a strategy to sell the property;
• sell the property; and,
• account to the co-owners and the Court, as appropriate.

Woodgate & Co. have had extensive experience as Trustees for Sale.