WA Property Law - Breach of Agreement to Sell Family Property to Me?

[Julie Watson]

My parents and my sibling signed a letter saying they agreed I could have the first option on buying our family property should they want to sell it. They now want to sell it, but offered it to someone else.

What legal weight does the letter hold and how can I contest the sale under Property Law?

Can I have the property sale to the other party stopped?

 

[Tim W]

Much depends on the formality of the letter
(was it in fact an "option", or just a statement of general intent?).

Much also depends on the context - for example this issue has arisen
in the context of a will/ estate, then it's different to, say,
selling the parental/ family home, or to selling an item in a portfolio of investment properties.