Joint mortgage but not paying - where do I stand for profit??

duncan303

skintdude wrote: »

Ok, I think basically it is just about coming to a 'personal' agreement with my friend as apposed to a 'legal' agreement.

I am not sure I agree in this instance, legal agreements are generally considered to be confrontational but actually they can also be very very liberating; Company directorships, marriage.....

By entering into a formal agreement by say an entry on the "charges register" and/or changing the ownership into a trust can take care of an equitable distribution. this would allow yourself and your friend to make future plans and give each other freedom to make those choices.

the fact that you are able to discuss this situation amicably is a gift you could secure, and it will never be forgotten ... ever.

As to equitable distribution you need look no further than to how this sort of situation is dealt with at board level. I believe that you should consider this to be a purely business agreement.

Whilst somebody else is kindly taking on your resonsibilities, you should see this as a window of opportunity.


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skintdude

tricky one. I'm going to have to give this some thought....

Trollfever

Why all this mention of profit when you are actually in negative equity?





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