Tenants in common

Mojisola

joe134 wrote: »

my daughters partner, wants to sell his half, cut and run, leaving my daughter with a new tennant in common.

Is this possible???? any advice would be most appreciated, as it,s causing so much grief , and do not want solicitors involved, if possible.thanks.

I don't know but from what I've read, mortgage companies might not be willing to lend in this situation.

I think you probably need to get a solicitor involved.

Also, houses will sell if they are presented right and priced right. You could post a link on the Property Board - http://forums.moneysavingexpert.com/forumdisplay.php?f=16 - and see if anyone has advice about how it get buyers interested.

joe134

Mojisola wrote: »

I don't know but from what I've read, mortgage companies might not be willing to lend in this situation.

I think you probably need to get a solicitor involved.

Also, houses will sell if they are presented right and priced right. You could post a link on the Property Board - http://forums.moneysavingexpert.com/forumdisplay.php?f=16 - and see if anyone has advice about how it get buyers interested.

hi thanks for reply, there,s no mortgage involved.The person renting wants to buy, cash, but cannot pay in full until his is sold, so he has offered half and my daughters partner wants to let him have his half to him now, and leave my daughter to sell her half to him later.. I say NO, all or nowt.
She doesn,t need a solicitor yet, unless she sells, then yes, but if he cannot sell his half without her consent, which I think is correct, then,I,ve told her not to worry, sit tight. The thing is, am I correct, can he sell his half without her consent? for cash, which is what he wants/needs. There,s nothing in this thread about splitting, when tennants in common.

joe134

Savvy_Sue wrote: »

I don't know, but I'd suggest that whether or not you WANT solicitors involved, the time may be coming when it makes sense to do so ... and as a first step, are you or she members of a trade union? If you are, you'll probably find that you can get a free half-hour telephone conversation which would help with this. If not, it may also be included in home insurance policies.

Hi Savvy-Sue, thanks for reply.At present, he,s playing silly beggars, she can have half an hour free at local solicitors, which she probably will use, but not yet.Thier financial affairs are a mess, and he is trying to make it more complicated.He won,t agree to anything that doesn,t suit him, although he created the mess. I just thought someone on here knew about the rights of partners when they fall out and are tennants in common, it,s never mentioned, only the benefits, mainly care homes etc. BUT, there,s the downside to everything. I have always stayed away from solicitors, UNLESS nescessary, at the moment, I don,t think she requires one , if I,m correct, and he cannot sell his half, she hasn,t wasted her half hour, which she Will need at some stage.:beer:

Mojisola

joe134 wrote: »

The person renting wants to buy, cash, but cannot pay in full until his is sold, so he has offered half and my daughters partner wants to let him have his half to him now, and leave my daughter to sell her half to him later.. I say NO, all or nowt.

She doesn,t need a solicitor yet, unless she sells, then yes, but if he cannot sell his half without her consent, which I think is correct, then,I,ve told her not to worry, sit tight. The thing is, am I correct, can he sell his half without her consent? for cash, which is what he wants/needs. There,s nothing in this thread about splitting, when tennants in common.

I don't see why he would need her consent to sell his share and, if he has a cash buyer, there's no other agencies involved who might baulk at the scheme. It's worth getting a solicitor's opinion.

The new buyer would have quite a lot of control over the price he pays your daughter. She'll have a lot of trouble selling to someone else so he could name his price and your daughter would have to take it or stay stuck as T in C with him. If he won't offer a reasonable price she would have to take him to court to force a house sale.

joe134

Mojisola wrote: »

I don't see why he would need her consent to sell his share and, if he has a cash buyer, there's no other agencies involved who might baulk at the scheme. It's worth getting a solicitor's opinion.

The new buyer would have quite a lot of control over the price he pays your daughter. She'll have a lot of trouble selling to someone else so he could name his price and your daughter would have to take it or stay stuck as T in C with him. If he won't offer a reasonable price she would have to take him to court to force a house sale.

Hi Mojisola, thanks for reply. IF, he,s done tennants in common, doesn,t bode well for daughter, unless we can beat him to it. As I said, thier affairs are complicated, a solicitor would have a field day, my daughter doesn,t know what she,s singned, no paperwork, nothing. he has it all, and is a devious beggar, nothing legal with him.
We will see what comes, just need to be prepared, I,ve been on her case since november, and it,s constantly changing, because he ducks and dives, difficult to keep ahead of him.:beer:

Mojisola

joe - have you looked on the Land Registry site to find out the ownership - https://eservices.landregistry.gov.uk/www/wps/portal/!ut/p/b1/04_Sj9CPykssy0xPLMnMz0vMAfGjzOKNjSxMDA1NjDwsjM3MDTxN3dyNDUNMjQ1MjPWDU_P0C7IdFQG9k5Tz/

joe134

Mojisola wrote: »

joe - have you looked on the Land Registry site to find out the ownership - https://eservices.landregistry.gov.uk/www/wps/portal/!ut/p/b1/04_Sj9CPykssy0xPLMnMz0vMAfGjzOKNjSxMDA1NjDwsjM3MDTxN3dyNDUNMjQ1MjPWDU_P0C7IdFQG9k5Tz/

Thanks Mojisola, although I have a copy of the land registry details, as there were 2 charges on the property, I had removed, when I cleared her debts, it doesn,t say, joint/common, just gives the 2 owners. The only one that says joint, account, is the application for the 1st mortgage, not 2nd or 3rd, yes, that,s how he works. first a repayment, then 2 remorges, then, interest only, then stops endowment, it,s a saga.al to speculate in spain;
there are other properties, 1 mortgaged, one not, involved in spain also+ land.All I,m trying to do is get my daughter away from him, debt free, but it,s a long hard slog, you never know what,s round the next corner, and I,m pretty savvy money/housewise. These sites on here are marvelous, always someone to help,who,s been there.I will do a land registry check, thanks for the link.need to do more credit checks on her, since I paid all her cc debts off in feb;
see if they,ve been updated, shot to pieces for next 6 years, stopped her going BR.rightly/wrongly. appreciate all your help. thankyou

noh

have a read of this document http://www.landregistry.gov.uk/public/guides/public-guide-18

on the Land Registry site, specifically section 2.2 which tells you about disposal and tells you the wording of a restriction that should be recorded on the title if the property is held as tennants in common.

aardvaak

I owned my house with my Parents as joint partners and was very happy to as when my parents died the property passed automatically to me without the use of the wills.

joe134

noh wrote: »

have a read of this document http://www.landregistry.gov.uk/public/guides/public-guide-18

on the Land Registry site, specifically section 2.2 which tells you about disposal and tells you the wording of a restriction that should be recorded on the title if the property is held as tennants in common.

thanks noh, very interesting. I, myself, intend , changing to tennants in common, for iht purposes, but, my daughter, had no reason to do so, her partner did, he had an ulterior motive, to use the home as a milch cow, and leave daughter holding the baby, debts;
It has it,s uses, but, it has it,s downside;He,s older than her, and it was her house to start with, but that all changed, love is blind;