selling land – hard fast rule for disposal

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  • #287031
    EVS27
    Participant

    Hello,

    is there a hard fast rule the 2nd property/ land in question to be taken into account as capital.
    If it was to be disregarded, as the claimant was taking reasonable steps to dispose of it.

    Is that reasonable step, compulsory to have it up for sale. or can he be taking different steps, which in view could be seen as trying to get rid of it…

    e.g. planning permission, looking for a private sale…

    how grey is this rule?

    • This topic was modified 2 months ago by EVS27.
    #287033
    John Boxall
    Participant

    If your claimant hasnt put it up for sale with an agent what exactly have they done?

    Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery. The blossom is blighted, the leaf is withered, the god of day goes down upon the dreary scene, and—and in short you are for ever floored.

    Wilkins Micawber, Ch12 David Copperfield

    #287034
    EVS27
    Participant

    Well,

    Long story – SHORT!

    Elderly chap, has some agricultural land, used to be a haulage site in the 80’s, has shared access with some other land, and says unable to get planning permission on the land to move the access, so developers are not interested…
    However he currently has a contact privately, which potentially could purchase this land, BUT the buyer does not have the funds to do so….
    could this be enough effort….

    #287036
    John Boxall
    Participant

    I suggest that there has to be a realistic possibility of a sale which there isnt in this case so no.

    Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery. The blossom is blighted, the leaf is withered, the god of day goes down upon the dreary scene, and—and in short you are for ever floored.

    Wilkins Micawber, Ch12 David Copperfield

    #287039
    peterdelamothe
    Keymaster

    A lot of such land is put up for auction. It will sell albeit at an unknown price. The legislation requires reasonable steps to sell….not reasonable steps to sell at a price the claimant thinks it is worth.

    Is there an active market in land in the UK. Yes indeed.

    Search for UK land auctions. You can normally sell in a month.

    #287137
    Alex G
    Participant

    Was there an independent valuation on the land, and did they take into account the shared access?
    That would give you an insight if the gentleman’s asking price is realistic.

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