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Hi,
Four UK resident siblings have been left a Spanish property from their parents,all with an equal share made under a Spanish will. Three would like to keep the property on as a holiday home. The remaining person want’s their share by either selling up or being bought out.Where does that person stand as the other three refuse either option. How can it even be practical to have four will’s drawn up for the respective siblings who all have grown up families of their own. Can a forced sale on the property be actioned legally.
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This is a very difficult topic. I don’t have so much legal expertise, but had a some what similar example a while back. My understanding (based on limited knowledge) is that you cannot force the 4th one to sell. So, the options are A) Buy the person out, B) You all sell (but that is not an option here i guess), C) Get a mediator to help (that is usually the best option for all. The mediator hears everyone’s story and needs, then develops a proposal on next steps. If the 4th person really wants to sell out, then the mediator would recommend a price to pay. D) Go to a (family) court. Obviously this is the worst option because of family, but the judge decides.
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On the understanding that in the Acta de Herencia (or Inheritance Deed) the property would be conveyed to all four legatees in a “community of ownership”, as I would expect to be the case, none of the four new owners is obliged to maintain the community and can require either a sale of the property or the other owners to purchase his/her share, failing which an application may be made to the Court for an “extinguishment of the community of ownership”. This ultimately results in the property going to auction, failing an agreement in the meantime, and the proceeds being divided amongst the four owners.
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