Chohan v. Sohi

Chohan v. Sohi

The petitioners were substantively successful in obtaining a purchase of their one‑third interest at fair market value; where two recent appraisals were closely aligned the court set the buyout at the midpoint ($1,048,333.33) less one‑third of outstanding mortgage amounts, ordered proportionate deductions for...

Source-derived case information.

Citation
2020 BCSC 182
Parties
Petitioner: Bhagwant Kaur Chohan also known as Nina Kaur Chohan; Petitioner: Leagha Investments Inc.; Respondent: Simranjit Kaur Sohi; Respondent: Succeed Holdings Ltd.; Respondent: Grand Palazzo Holdings Ltd.
Court
Supreme Court of British Columbia
Jurisdiction
Canada
Judgment Date
16 January 2020
Procedural Posture
Petition for Conduct of Sale / Oral Reasons for Judgment (in Chambers)
Outcome
Petition granted in part: respondents ordered to purchase petitioners' one‑third interest at a court‑fixed fair market value; petitioners awarded costs and specified disbursements.
Legal Topics
Partition and Sale, Valuation and Appraisal, Costs and Disbursements, Mortgage Charges and Title Transfer Fees, Closing Timeline
Source Language
english
Property Law Civil Procedure Equity Partition and Sale Valuation and Appraisal Costs and Disbursements Mortgage Charges and Title Transfer Fees Closing Timeline

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Parties

Bhagwant Kaur Chohan also known as Nina Kaur Chohan

Petitioner

Leagha Investments Inc.

Petitioner

Simranjit Kaur Sohi

Respondent

Succeed Holdings Ltd.

Respondent

Grand Palazzo Holdings Ltd.

Respondent

Procedural Posture

Petition for Conduct of Sale / Oral Reasons for Judgment (in Chambers)

Legal Issues

  1. 1 Appropriate fair market valuation for a one‑third co‑owner interest
  2. 2 Whether to split the difference between competing appraisals
  3. 3 What deductions from the purchase price are appropriate (mortgage, taxes, banking charges)

Ratio Decidendi

The petitioners were substantively successful in obtaining a purchase of their one‑third interest at fair market value; where two recent appraisals were closely aligned the court set the buyout at the midpoint ($1,048,333.33) less one‑third of outstanding mortgage amounts, ordered proportionate deductions for one‑third of property taxes, mortgage payments and related late fees and one‑third of banking/transfer charges, set a firm closing date (no later than March 2, 2020), and awarded costs to the petitioners including the initial JRC appraisal and half of the second JRC appraisal as reasonable disbursements.

Court Disposition

Petition granted in part: respondents ordered to purchase petitioners' one‑third interest at a court‑fixed fair market value; petitioners awarded costs and specified disbursements.

Orders

  • Respondents to purchase petitioners' one‑third interest for $1,048,333.33, less one‑third of outstanding mortgage amounts.
  • Petitioners to bear one‑third of any banking charges related to the change in ownership, including any early discharge or rollover fees.