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Legal or not

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Comments

  • sonastin
    sonastin Posts: 3,210 Forumite
    How about the party willing to sell paying the other party half of the difference. Keeps you out of the arrangement...
  • ceh209
    ceh209 Posts: 877 Forumite
    Part of the Furniture 500 Posts Name Dropper
    Surely the couple can just agree a non 50/50 split, same result? Keeps it all above board and you out of any trouble.
    Excuse any mis-spelt replies, there's probably a cat sat on the keyboard
  • System
    System Posts: 178,419 Community Admin
    10,000 Posts Photogenic Name Dropper
    That's my thought. Just suggest accepting the lower offer, and agree to compensate the other person. Deposit the money with the solicitor if they don't trust you.
    This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com
  • Jeffrey_Shaw
    Jeffrey_Shaw Posts: 512 Forumite
    Part of the Furniture 500 Posts Combo Breaker
    teacup9095 wrote: »
    Background: Couple splitting up: Can't agree sale price, 1 willing to accept offer, other wanting more and sticking to this. 1 willing to sell offers to pay me the shortfall without the other knowing to move the sale forward. ie. I get it for the price I offered and the one partner believes that they have got the amount they want.

    What should I do.
    Read the Trust Deed. There is a Trust Deed, isn't there...?
  • DVardysShadow
    DVardysShadow Posts: 18,949 Forumite
    Jeffrey_Shaw wrote: »
    Read the Trust Deed. There is a Trust Deed, isn't there...?
    Is this the trust deed between V1 and V2? Would it be in the public domain?
    Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam
  • Jeffrey_Shaw
    Jeffrey_Shaw Posts: 512 Forumite
    Part of the Furniture 500 Posts Combo Breaker
    DVardysShadow wrote: »
    Is this the trust deed between V1 and V2? Would it be in the public domain?
    Yes, a Trust Deed would [should!] have been executed by the joint owners, now vendors.
    No, it's not a public document and cannot itself be registered at HMLR- as it relates to only the equitable interests- BUT:
    a. a Restriction reflecting it needs to be registered; and
    b. it's conceivable that the solicitor who registered the Restriction might have nevertheless filed a copy Trust Deed at HMLR for reference purposes.
  • DVardysShadow
    DVardysShadow Posts: 18,949 Forumite
    edited 4 September 2011 at 10:08PM
    Jeffrey_Shaw wrote: »
    Yes, a Trust Deed would [should!] have been executed by the joint owners, now vendors.
    No, it's not a public document and cannot itself be registered at HMLR- as it relates to only the equitable interests- BUT:
    a. a Restriction reflecting it needs to be registered; and
    b. it's conceivable that the solicitor who registered the Restriction might have nevertheless filed a copy Trust Deed at HMLR for reference purposes.
    So actually, P would not be in a position to read the trust deed, because this purely sets things straight between V1 and V2, whereas P is actually dealing with V = V1 + V2, rather than V1 or V2.
    Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam
  • Jeffrey_Shaw
    Jeffrey_Shaw Posts: 512 Forumite
    Part of the Furniture 500 Posts Combo Breaker
    Yes. The purpose of the associated Restriction is just to forewarn P that the survivor of the owners 'cannot give a valid receipt for capital money' [= cannot give clear title acting singlehandedly]; a co-trustee is needed so the two can transfer validly.
    The trust still exists but it's "overreached" [= shifted from the property, so as to take effect against the sale proceeds].
This discussion has been closed.
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