What is section 66G?

Section 66G of the Conveyancing Act 1919 (NSW) provides a legal remedy for co-owners of property who are unable to reach an agreement. It allows any co-owner to apply to the Supreme Court of New South Wales for the appointment of trustees to manage the sale of the property. The trustees handle everything from marketing the property to overseeing the sale, ensuring that the proceeds are fairly distributed according to ownership shares or court orders. This legal mechanism is particularly useful when co-owners are in deadlock and can’t find a way forward.

New trends in co-ownership disputes

Recent statistics indicate that around 30% of co-ownership disputes in NSW arise from violations of the terms of ownership agreements, while about 12% of all property disputes in the state involve co-ownership. As more people engage in joint property ownership for residential, commercial, or investment purposes, these disputes are becoming more common.

Levi Consulting’s approach

We deal with various types of properties:

• Residential properties (family homes, apartments etc.)
• Commercial real estate (office buildings, factories etc.)
• Investment properties (rental apartments, vacation homes etc.)

Here’s a step-by-step look at how we manage a section 66G process:

1. Application and hearing at the Supreme Court
2. Court’s appointment of trustees from Levi Consulting
3. Property management and overseeing the sale
4. Distribution of proceeds based on court orders or co-ownership shares

How we have helped

Below are some common situations our clients face:

1. Inherited Property: When multiple family members inherit property but cannot agree on whether to sell or keep it, Section 66G can help by appointing trustees to manage the sale, ensuring the proceeds are fairly divided.
2. Investment Property Disputes: If business partners or friends jointly own an investment property but have differing opinions on selling or holding onto it, Section 66G enables one party to apply to the court to resolve the deadlock.
3. Divorce Settlements: In cases of divorce where couples can’t agree on what to do with their jointly owned home, Section 66G allows one party to apply for trustees to manage the sale and fairly divide the proceeds.
4. Business Co-ownership Disputes: When business partners can’t agree on what to do with a co-owned property, applying under Section 66G can allow for a court-appointed trustee to manage the sale and help both parties move on.

Reach out

At Levi Consulting, we have extensive experience acting as trustees under Section 66G appointments. We handle every step of the process, from communicating with all parties to working with real estate agents, managing the sale, and distributing proceeds. We also provide guidance on tax considerations and help navigate any legal or financial complexities that arise.

If you are involved in a co-ownership dispute and need assistance with a Section 66G application, feel free to contact David Levi for a confidential discussion at 0418 602 466. Let us help you resolve your property dispute and move forward.