Help please, please , please

i23sarah

Hi last year my husband and I bought 28 acres of land with some farm buildings on them with a friend of ours and her partner. Needless to say this has gone pair shaped and we would like to either buy them out or sell the land (they could not afford to buy us out). My guess is that they would not wish to sell and are going to be extremely difficult about the whole process. the situation is driving us mad and we really dont know how to go about this for the best, currently we are all just about on speaking terms

maninthestreet

You need to give us some more details here - what has happened for you to describe things as 'pair (pear?) shaped? Was the land bought with a mortgage? Have the other couple involved suddenly become unable to pay their contribution to the mortgage payments?

i23sarah

Hi we bought the land cash our partners bought the land with a mortgage on there house so effectively cash as well. Its gone pear shaped by one side of the partnership doing most of the work

clutton_2

did you write a joint venture agreement when you agreed to purchase the land ? if you did - is there an "exit strategy" clause in it ? if not, you may want to try the National Mediation centre who help mediate in disputes.

i23sarah

Hi thanks for replying
no we didnt write a joint venture agreement but we verbally agreed one along the lines of if we wanted out we would have to offer the other partners to buy or we would all have to sell. I am just concerned that they could make this very difficult, and i need to know my options before any discussion, I think I need to see a solicitor what do you think

i23sarah

By the way how do you thank somone i can see a report bad post button but not a thanks you one

benood

Hi - have you spoken to the other couple recently about your expectations? Are you developing the land or growing crops on it? They might be approaching it as a hobby while you're viewing it as a business - could this be the trouble? If you are growing things then as long as they don't nick the crop does it matter that much that they're bone idle?

Wings

You need to keep your thoughts and feelings under wraps and out of sight of the other couple. I personally would keep away at this early stage from solicitors, and try to find another person/s who can mediate between you, possibly finding out what solutions the other persons need to either resolve your differences or bring your arrangements to an end.

i23sarah

We havent actually fallen out yet i can just see problems ahead, (we keep horses on the land)

i'm am just looking at what would happen if we wanted to sell and they didnt from a legal point of view