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Placing a value on a part share
In CH/1815/2016, Judge Jacobs comments :
The legislation volume ‘...is, I think, rather too pessimistic about the possibility of placing a value on a part share when the joint owner does not wish to sell. Since the decisions cited, the Commissioners and subsequently the Judges of the Upper Tribunal have, through their experience of cases, become aware of markets that exist for investors in such shares. The commentary also overlooks the decision of the Court of Appeal in Wilkinson v Chief Adjudication Officer, reported as R(IS) 1/01.’ (paragraph 10)
I am dealing with someone who has a third share in an inherited property, which would be worth about £50k or more to the claimant if able to realise it. In fact, tenants have been given a long term lease by a sibling.
On the one hand, we may be able to argue her value is below the capital limit taking this into account, although this could go either way, of course.
On the other, if she actually wants to sell her share in ‘the markets’ referred to above, or elsewhere - does anyone know where she would start?