Owner of 50% wants out ?

[driver67]

Hi All,

Looking for some advice for a friend here. He's from Glasgow, moved down south 20 years ago, ex Royal Marine.

He bought a house in Twickenham with his now ex-girlfriend on a 50/50 split. Both names on mortgage.

It's a townhouse, he's now living in the bottom half, his ex in the top (with 2 kids from another relationship). All amicable but he wants out and to release the equity to move back to Glasgow.

She's happy with things as they are as can't pay the mortgage on her own, won't buy him out, consider downsizing etc.

What are his realistic options here ?

Thanks for any insights.

Dougie.

[Brads67]

Sell the bottom half to a letting company then leave her to it.

[Doofus]

driver67 said:

He's from Glasgow, moved down south 20 years ago, ex Royal Marine.

This is relevant why?

[driver67]

Doofus said:

This is relevant why?

Your reply is relevant why ?. fk off from my thread please.

[kiethton]

Was there a deed of trust drawn up at the time of purchase detailing the process to sell in the event of a split?

[driver67]

kiethton said:

Was there a deed of trust drawn up at the time of purchase detailing the process to sell in the event of a split?

Unfortunately not, usual situation it appears, we'll be happy ever after .......

[Doofus]

driver67 said:

Your reply is relevant why ?. fk off from my thread please.

'K

Been through almost exactly the same thing with my sister in the past year, but fair enough.

[driver67]

Doofus said:

'K

Been through almost exactly the same thing with my sister in the past year, but fair enough.

Then why not reply with something relevant ?. You added zero content to the information I am looking for.

Dougie.

[BertBert]

perhaps doofus by name etc?

[Turn7]

driver67 said:

Doofus said:

'K

Been through almost exactly the same thing with my sister in the past year, but fair enough.

Then why not reply with something relevant ?. You added zero content to the information I am looking for.

Dougie.

The way of PH today very sadly......

[cadmunkey]

He can just initiate a sale, been there done that and got the tee-shirt!
Will more than likely need to engage a solicitor as she won't go without a fight I suspect.

[Sloan85]

Not sure anyone would buy half a house as liability for the mortgage isn’t limited to half. Time to see a solicitor and get a court order to force the sale. Not ideal if trying to keep things amicable but if the ex refuses to downsize then there is no other option. No idea if kids will affect this.

[Ken Figenus]

Joint tenants or tenants in common?

[driver67]

Ken Figenus said:

Joint tenants or tenants in common?

Unsure on this, it's joint owners with mortgage.

Dougie.

[Ken Figenus]

Tenants in common mean you can't sell without both parties' consent.

[driver67]

Ken Figenus said:

Tenants in common mean you can't sell without both parties' consent.

Is there a difference between tenants and owners in the eyes of the law ?

This is the conundrum. There must be some solution surely for situations like this ?

Dougie.

[Aretnap]

driver67 said:

Ken Figenus said:

Tenants in common mean you can't sell without both parties' consent.

Is there a difference between tenants and owners in the eyes of the law?

Not in this context - "tenants" is a slightly misleading term for (joint) owners.

As above it matters whether they are joint tenants or tenants in common as these are two different ways of owning a house jointly which give rise to two different sets of rights in the event of a sale.

[littleredrooster]

Ken Figenus said:

Joint tenants or tenants in common?

^ ^ This.
Without knowing how it was registered with the Land Registry, and how the mortgage was drawn up there can be no definitive answer to this thread. Kids may pose a different conundrum, too.

[joropug]

Friend of mine who divorced had a similar issue. Ex lives in the marital house with kids, she pays the mortgage he lives elsewhere.

Their agreement was that each party owns 50 percent, she pays the mortgage as she is living there - they put a time limit on of like 5 years at which point she has to buy him out or they sell it (and sale could be forced). He is actually in a good position now as she is buying him out and the property is worth considerably more than it did 5 years ago.

I don't know if this was do to a divorce term or otherwise mind, but agreeing it formally in writing with solicitors is a good place to start.

[The Mad Monk]

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