Unable to pay for buy out

stickman

Hi,
Both of us recently retired but relationship over. one wishes to stay in home the other to leave.Problem is one who wishes to stay can't afford to buy the other out.
Any advice please.
Thanks

19lottie82

Sell it.

If the party that wants to stay can't get a mortgage or the cash to pay for it then there's nothing that can be done.

stickman

19lottie82 wrote: »

Sell it.

If the party that wants to stay can't get a mortgage or the cash to pay for it then there's nothing that can be done.

Thanks,
But can party that wants to stay be forced to sell / leave the property.

BitterAndTwisted

Yes, they can but it would need a court-order and the process isn't cheap. This is assuming that the property is jointly-owned.

See, when a relationship ends it would be nice to tell your partner to just eff-off and make their own arrangements for housing while you sit there all comfy in the "family home" but that's not either fair or even possible.

Instead of thinking about spending loads of money that won't ever be seen again it might be more sensible to explain the possible outcomes which would leave both parties in possession of more than a fiver each. In the meantime neither party should do anything as foolish as to actually move out until an agreement is reached somehow

Guest101

The leaver could charge a rent, but im guessing they want the equity to get their own place or whatnot. A battle is to be avoided at all costs, the most sensibe thing to do is sell. Thats for both parties

Pee

Whose name is the property in?

It doesn't sound like you are married, so ownership could be very relevant.

You would almost definitely be able to get an order for sale if you are a coowner, speak to a solicitor.