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Tenancy in common
dresta200
Posts: 8 Forumite
Hello all
I split with my partner who now lives abroad. We owned 50% of a £179950 property which we still paying a £79000 mortgage as joint tenants. The property is only 2 years old so is in negative equaty. My dilemma is am aware my ex can force me to sell and i can buy her out. She is not willing to do anything at the moment. Am not sure if she realizes she can force a sale. She wont want to let me buy her out. I want to buy the rest of the flat is it possible to buy the other half of the flat as my own share. Would changing the tenancy to Tenancy in common help. What should i do
I split with my partner who now lives abroad. We owned 50% of a £179950 property which we still paying a £79000 mortgage as joint tenants. The property is only 2 years old so is in negative equaty. My dilemma is am aware my ex can force me to sell and i can buy her out. She is not willing to do anything at the moment. Am not sure if she realizes she can force a sale. She wont want to let me buy her out. I want to buy the rest of the flat is it possible to buy the other half of the flat as my own share. Would changing the tenancy to Tenancy in common help. What should i do
0
Comments
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I assume the property is in England?
http://findlaw.co.uk/law/property/buying_property/500189.html
If you are intending to sever the joint tenancy, as the property is subject to a mortgage, you should notify the mortgagee.
http://www1.landregistry.gov.uk/upload/documents/public_guide_018.html
As I understand it, in order to sever a joint tenancy and create a tenancy in common, a notice of severance needs to be served by one owner on the other owner of the property.
You can check on the web for further information.0 -
Thanks guys0
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