Can I be forced to sell as a tenancy in common

madmac2003

I have always believed that you should only pay for your own share, currently it works out that my MIL makes 22% on everything we put in to the house. as we pay 50% but only have a 28% share.

I have suggested that we get back the additional % to match our share of the property (actual money we have put in), this would in turn us allow the sale to proceed at a sale price she will accept, as you have suggested. And I'll walk away from the increased value the renovations have added to the property. (near doubling in value). It's now about working out a figure we agree on. It's all very messy to be honest. I believe she thinks we (or me) are trying to rip her off, but it feels like we've been ripped off for the last 10+ years. All to keep my partner happy, which I will continue to try and do.

As far as the future, I will NOT be living with my MIL, and do NOT need any financial support from her. Hence the reason why I need to accept the market value and not a fire sale offer (the 1st one that comes through the door).

I can no longer live with someone who has tried to bully me and threaten to take me to court and force me to do something I just don't want to do. This is now having a real negative effect on my partner, who prior to this was off work with stress, and this is making our life a whole lot worse. I don't think my MIL realises the impact of this threat, and what she is about to lose.

Can I say again thank you for your advice.

Strapped

Frankly, it's a bit late to start moaning about what you've paid after 10 years of the arrangement!

Stick it on the market and see what offers you get. THEN start worrying. Sounds like you have enough stress without prolonging the agony or worrying about what may not happen.

Legally, you're going to get the 28%. Don't expect more and you won't be disappointed.

Whatdo

Need to quantify

[/QUOTE:] money put in [/QUOTE]

Agreed renovation invoices are totally separate to house running costs and again separate from general household expenses.

house running costs are insurance, council tax, standing charges for services. these are generally relatively fixed costs inherent to own a home.

general household expenses are utility usage, tv, groceries, window cleaner etc. Personal usage and preferences.

over the years the number of people living in the property has changed. for example at the moment your MIL in fairness should be only be paying one fifth of the house running costs. Whilst your FIL was alive it would seem that six people were living at the property so the division would have changed but let us say that the house running costs are £1800 annually. so the division would be parents 2/6 or 1/3 and family 4/6 or 2/3, now your MIL is alone this would change to 1/5 and 4/5.

lets say that the bills have remained fairly constant over the 10 year period. and that your parents liabitiy has decreased as your family has increased year on yeaar she would have been paying maybe £600/year. You have paid out approx £6000 over the 10 year period, money which you would have otherwise kept for yourself.

as to general household expenses in true fairness that should be disregarded, if you had felt at any time that she should contribute to food etc then you should have dealt with that then and as it happens, I know (sixth sense) that she has babysat for you both on more than one occasion, and you are going to miss all her extra help when the house is sold. Nannies are not cheap.

She may see it as having to bring up yet another family, it is bl**dy hard unpaid work.

So you could hit her for £6000 plus 22% of the actual invoices for renovation work and "essential maintenance".

Did your partner expect to inherit her fathers share of the property? Did you ever believe that would be the case when you agreed to pay for half of the renovation works?

..

paddyz

What renovation works needed doing? was this done by a contractor or yourself.

I think selling fast is unwise for all everyone involved unless living together is not possible, sit down and try to compromise.

xylophone

Do you like the house? Can you raise the money to buy your MIL's share of the property? Presumably you are willing to pay her 72% of the value you think is correct?