can he legally take all the money from the sale of the house?

Ms_Dalton

hi, i bought a house with my brother 5 years ago - we pay half the mortgage and half the rates each through a joint account. after alot of hassle and bother ive had to sell the house for less than what i bought it for just to get him out (as i cant remortgage and if i sell cant get a mortgage to buy a new house) so im selling it to a guy who is going to rent it back to me.

the only way my brother agreed to sell the house was if he got all the proceeds from the house (which is about £4k) and i get nothing - i agreed just cus i needed to get him out of the house but that he had to pay all the solicitors fees, turns out he cleared the joint account to pay for the solicitors. so after 5 years of us both paying the same into the joint account but me paying all the insurance etc, i am coming out of this with nothing.

can he legally take all this money?

opinions4u

You say you agreed to him getting it.

Now you ask if it's legal?

If you both sat down in front of a judge and ask him to rule, what to you think the outcome would be?

When you made the agreement you created, imho, a legal contract.

zppp

Ms_Dalton wrote: »

hi, i bought a house with my brother 5 years ago - we pay half the mortgage and half the rates each through a joint account. after alot of hassle and bother ive had to sell the house for less than what i bought it for just to get him out (as i cant remortgage and if i sell cant get a mortgage to buy a new house) so im selling it to a guy who is going to rent it back to me.

the only way my brother agreed to sell the house was if he got all the proceeds from the house (which is about £4k) and i get nothing - i agreed just cus i needed to get him out of the house but that he had to pay all the solicitors fees, turns out he cleared the joint account to pay for the solicitors. so after 5 years of us both paying the same into the joint account but me paying all the insurance etc, i am coming out of this with nothing.

can he legally take all this money?

Who is on the title deeds of the mortgage? If you don't have them, you should first contact the Land Registry to see who the property is registered to - this could make alot of differnce. Once you have established that post up the results and we can advise the best course of action.

(Even if you are not a registered title holder, there may be remedies available through equity)

Ms_Dalton

i know im only asking now after i agreed to it, but him and his girlfriend have made my life hell for the past 3 years - it was the only thing i could do unless i ended up in an asylum!

me and him bought the house together, both our names are on the mortage, deeds etc

he said he's entitled to it!

getmore4less

Ms_Dalton wrote: »

hi, i bought a house with my brother 5 years ago -

What was the agreement?
Who paid the deposit?
Who lives in the house?

we pay half the mortgage and half the rates each through a joint account.

What about the other things that are house related like maintanence

After alot of hassle and bother ive had to sell the house for less than what i bought it for just to get him out (as i cant remortgage and if i sell cant get a mortgage to buy a new house) so im selling it to a guy who is going to rent it back to me.

So there is a loss

the only way my brother agreed to sell the house was if he got all the proceeds from the house (which is about £4k) and i get nothing
there is a loss
- i agreed just cus i needed to get him out of the house but that he had to pay all the solicitors fees, turns out he cleared the joint account to pay for the solicitors.

Should not have left any money there

so after 5 years of us both paying the same into the joint account but me paying all the insurance etc, i am coming out of this with nothing.

can he legally take all this money?

There is a load of detail missing to even have a chance of considering what is legal or fair.

What grief and bother have you been getting?
How much was the mortgage(to you) compared to renting?

Have you exchanged yet?

Gorgeous_George

It is quite possible that the house is being sold for less than they paid for it but for there still be £4K equity once sold. Some people, even 5 years ago, paid a d e p o s i t.

A judge may consider that you agreed under duress and may ignore the verbal agreement. However, £2K is a small price to pay for peace of mind. Your brother may have preferred to keep the property rather than sell at a loss so his offer of selling but for the equity to be all his is not totally unreasonable.

Don't let his 'greed' ruin your relationship with him. Blood is thicker than water and your forgiving attitude towards him will bug him more than if you never speak again.

GG

Lance

Sounds like it might be worth 2 grand to get shut of them both. As you agreed it may be difficult and expensive to get a court judgement in your favour.

POSSETTE

If you had an agreement that he would get all equity,then i suppose that is what should happen,BUT you also had, as part of that agreement,that he would pay all solicitor fees etc...he didnt..he used half of your money to do it..ergo..contract broken so dont give him anything but his half of 4k less half the solicitor fee. Final...if he doenst like it..tell him to take you to court...bet he doesnt have funds or brains to do that by sounds of it. Good luck.

ps How far down the line are you with sale and rent back?

Sallyann58

I know this isn't a reply to your original question, it's more to do with you selling and renting back. Please, please be careful when you make the agreement on this. Make sure the paperwork is watertight - and read the small print in detail. I have heard horror stories of agreements like this which all seem ok and friendly to start with and then go horribly wrong a year or two down the line.
It seems that a price well below market price can end up being agreed because the vendor is persuaded that this is a much cheaper way of doing it - no estate agents etc. After that, the tenancy may not be renewed after the initial period.
Hopefully, you have found someone totally trustworthy but if the person/company is a stranger then it might be worth getting some advice on what is offered.