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Ex. demanding half the equity from my house...
Comments
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BitterAndTwisted wrote: »If there's nothing in writing then it's all up for negotiation. If the property has dropped by a substantial amount it could end up with him paying you a sum to settle.
No, an agreement was made 3 years ago, but the terms are less certain if it is not in writing.
The only other question I can think of is whether a valid agreement for land can be made verbally, but that is a matter for the lawyers.No reliance should be placed on the above! Absolutely none, do you hear?0 -
We had a verbal agreement at the time, to be honest I would have agreed to anything I just wanted him out the house as living together was becoming increasingly difficult. We were still amicable but things are starting to get a bit nasty now that I have queried the amount of money he is owed. I don't want to stitch him up but at the same time I feel frustrated as I am the one who has struggled to keep paying the mortgage by myself while he's been swanning off around the world and now he's demanding his money from a house he hasn't given a crap about for 3 years!0
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You have to be fair to him.
If you agreed 3 years ago on a price and you have worked out the equity was at the time £12000 then you need to pay him the £6000
If say house prices had carried on rising and he now wanted to renegotiate to get more of the equity, Would that be fair? Okay he hasn't been paying his half of the mortgage for 3 years, But equally you have not been paying him rent on his half of the house for 3 years.
Do the right thing and give him his £6K if thats what you agreed to.0 -
I'd get some legal advice - pronto. And then I think I'd tell him to take a running jump! He should have got all of this sorted out before he swanned off to the Land Down Under. As said above, he could end up owing you! And a strongly worded letter from your solicitor explaining why could be worth every penny it costs.0
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cherylwell wrote: »We had a verbal agreement at the time, to be honest I would have agreed to anything I just wanted him out the house as living together was becoming increasingly difficult. We were still amicable but things are starting to get a bit nasty now that I have queried the amount of money he is owed. I don't want to stitch him up but at the same time I feel frustrated as I am the one who has struggled to keep paying the mortgage by myself while he's been swanning off around the world and now he's demanding his money from a house he hasn't given a crap about for 3 years!
Well, he could have had his money 3 years ago, so how are you worse off?No reliance should be placed on the above! Absolutely none, do you hear?0
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