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Buying a property with a friend can seem like a good idea, but what happens if things don’t go to plan? As tenants in common, the easiest way of sorting out this arrangement is to agree to buy the other out or decide on the best way to dispose of the property that works for both parties.

However, if neither party can agree then one option available to you is to apply to court for an order of sale. This can be a costly process and can cause animosity between the two tenants in common, which is why it is often a last resort.

What is an Order for Sale?

When a property is held in joint names, but a sale cannot be agreed upon, then one of the parties involved can apply to court for an order of sale. This is found in section 14 of the Trusts of Land and Appointment of Trustees Act 1996. More...

A Will may be written some time before death. It is not unheard of for a named Executor(s) to die before the Testator. If one or more of the Executors dies it may be that the Will names one or more other Executors. It would then be for those Executors named to take up their entitlement to the Grant of Representation to the Will.

If all of the named Executors have died or are unwilling to be appointed, the order of who is entitled has to be established by using the NCPR 1987. It may be that a beneficiary under the Will could become the Personal Representative. It is therefore important if you find yourself in this sort of situation that you seek legal advice on who can apply for the Grant of Representation;

How do I apply for the Grant of Representation?

You can apply for the Grant of Representation if you are a Personal Representative (PR) of the estate. A Personal Representative or PR could be an Executor named in a Will or an Administrator, where there is no Will.

There are two main types of Grant of Representation; the appropriate one will depend on the circumstances of the estate. The two main types of Grant of Representation are as follows; More...

When it comes to a divorce, one of the biggest assets is often a pension. Since 1st December 2000, the court can grant a pension sharing order against either party giving shared rights to the pension through a legal arrangement.

But what is a Pension Sharing Order (PSO) and how can it affect you? Let’s take a look:

The Pension Sharing Order Process

If a marriage has come to an end and one partner is left without a pension entitlement, then a PSO distributes the assets that are held within an existing pension. Pension Sharing Orders allow a clean break between parties and make the need to start a new pension redundant.

As part of a divorce process, assets within a marriage are assessed and divided between the couple. Pension Sharing Orders mean that these assets also include the monetary value of any pensions – this allows for one party to get a percentage of the total value of the other person’s pension in the split.

Instead of earmarking this money for retirement, the pension is split using pension credit which can be transferred into an existing pension, a new pension or an extra pension in an existing scheme. More...

A new law for landlords and letting agents is being introduced today in an attempt to raise standards in the private rented sector in Wales.

The Housing (Wales) Act 2014 Part 1 requires all landlords and letting agents to become registered and licenced over the next 12 months.

This new legislation replaces the existing voluntary Landlord Accreditation Wales scheme.

What are the aims of this new legislation?

‘Educating Welsh landlords and agents to improve private renting for all.’ More...

Divorce is a tricky business and it can be made even more complicated when a family business is involved. There are many ways that this situation can be sorted out, depending on a number of factors, but the most important thing to do is have the business properly valued.

How to Value a Business

Estimates are not good in this situation, so it is important that you have a fair valuation of your business. In order to accurately value a small business for divorce you need to take the approach that best matches your business model. There are three things you need to consider when valuing a small business, these are as follows:

1. Assets– if your business is asset heavy, then working out the cost of your buildings, machines, products, raw materials, etc., will help to create the core value of your business.

2. Cash flow – look at the forecast future of your expected revenues and costs to find a net profit (typically over 5 years) in order to achieve a terminal value. This figure should then take into account the riskiness of your business to bring in the predicted amount, thus giving your business a cash flow figure. More...

With effect from 15th February 2015 EU Regulations on Consumer Online Dispute Resolution (ODR) allow consumers who bought our services online to submit their complaint via an online complaint portal.

We are required under the regulations to provide our clients the following information:-
  1. Link to the ODR platform - please follow the following link for further information (http://ec.europa.eu/consumers/odr).
  2. Our contact email address in case of a complaint under the ODR regulation – Andrea Coombes andrea.c@howellslegal.com