Equitable interest question

JJH2013

Hope this is in the right place, if not please advise..

Without going into too much detail, how would a court solve a case regarding equitable interest, if there is no equity in the said property? Would the property owner still be forced to pay a sum to the person in question? Or would it just be sold and the situation dissolved if there were no proceeds from the sale?

getmore4less

What was the agreement when set up.

if none how can there be any interest if the debt and fees mean there is nothing left.

JJH2013

Agreement was just that said person who is not on mortgage could take all equity/proceeds from the house when sold (relationship break down). Evidently there is now no equity, they are refusing to move out, feeling they are owed money and not wanting to leave "their" home.

Thrugelmir

Does the individual in question have any assets?

JJH2013

Person who won't leave? No. Part of the reason we believe they won't leave as it would mean funding a new start in a rental etc.

getmore4less

Is there any tenancy agreement?

JJH2013

No tenancy agreement. Any ideas?

holly_hobby

If they were disclosed as a resident at time of mge, then they would have signed the consent to vacate disclaimer - which essentially means that they have signed away any beneficial claim to residence on forced sale.

If not, and they can evidence they have contributed to the mge then its a tad more complicated.

If you've not engaged a solicitor I suggest you do so, as the board is not qualified or indemnified re legal advice.

Holly x

getmore4less

What evidence of the agreement(although that does seem to be acknowledged)

Does/did anyone else live in the property?

Is the purpose to gain possession to use or sell?