Place Settling Disputes Between Co-Owners Of Property

Property ownership can be a sensitive issue in a territory with limited space like Bermuda where a single property can have a significant impact on many neighbouring properties. That can particularly be the case where the property is co-owned.

Title deeds typically specify the proportion of a property owned by each co-owner, if there is more than one owner. Parents often pass on property jointly to siblings and there may be grandchildren who may have children of their own, who in turn jointly inherit.

The more distant the co-owners' relationships, the harder it is for co-owners to agree on every aspect of coownership. Disagreement may be exacerbated if there are differences in co-owners' financial resources. Arguments can arise when expensive maintenance or repair is required, if a co-owner needs to raise money through a mortgage or another party requires a sale to release funds for other priorities.