Obtaining order for sale / making ex partner buy me out of joint property

Guest101

DandelionPatrol wrote: »

My comment was in the context of it being suggested that OP was not entitled to 50% of the equity because the ex had been paying the mortgage all on his own ...

For all intents and purposes, he has been.

His GF/Partner now has a claim on share of the property. But as far as any dealings with the OP go, she is not owed anything.

Dan-Dan

millie84 wrote: »

We would manage the rental ourselves, if we took that option.
I think I am going to ask for 50% of the equity, if that is possible. If he can't find £6K to be able to stay in the property, I will go for an order for sale. I have been told previously by a solicitor that I can arrange the court stuff myself and charge the fees to the other side.
At the very least I am entitled to 30%, which is what I put in.
He seems to be stalling, but the longer it goes on, he is paying more off the mortgage each month, meaning the equity is growing slightly, of which I am entitled to a share. I don't know if he realises this, or is just stalling because he (probably) has no money to buy me out.

Just get on and force the sale , your itching to , it`s obvious
dont be surprised when you both come out with nothing though

millie84

Guest101 wrote: »

For all intents and purposes, he has been.

His GF/Partner now has a claim on share of the property. But as far as any dealings with the OP go, she is not owed anything.

I believe he is single, but why would a his new partner be entitled to any money, and why wouldn't I get any? That doesn't make sense, and wouldn't any payments she made count as rent and therefore be breaking the terms of the mortgage?
My name is on the property deeds and the mortgage, we are, legally, joint tenants.

Guest101

millie84 wrote: »

I believe he is single, but why would a his new partner be entitled to any money, and why wouldn't I get any? That doesn't make sense, and wouldn't any payments she made count as rent and therefore be breaking the terms of the mortgage?
My name is on the property deeds and the mortgage, we are, legally, joint tenants.

Anyone that has paid towards a mortgage might have gained an interest in the property.

The partner would not be entitled to any of YOUR share, but could be entitled to a percentage of HIS share.

They are living as a family unit. A partner cannot be a lodger (and obviously cant be a tenant). So it is not rent.

You being joint tenants is irrelevant for this issue. (unless you're saying something im not seeing?)

Ozzuk

I'm not sure why you think you'll get 6k. The 'average' house will cost 2-3k for EA, then soliticitor. Depending on price for yours that outlay alone could be 4-5k total. So now you are down to 7-8k.

Also...its valued at xk. Doesn't mean it will sell at that. Depending on your area the it's highly likely offers would be less - something more likely if you have made such little equity improvement (suggests low demand).

Thirdly, if he doesn't sell there will be fees associated with taking you off the mortgage which again to be fair should be split.

If it was me, I'd ask for 3k to let him keep the house. Can he even get a mortgage on his own?

Just to add...as others have said it will be very expensive to take this to court so I'd def go in lower and try and keep it friendly.

antrobus

TOLATA would apply.
http://www.familylaw.co.uk/news_and_comment/recurring-misconceptions-in-tolata-cases

millie84

Guest101 wrote: »

Anyone that has paid towards a mortgage might have gained an interest in the property.

The partner would not be entitled to any of YOUR share, but could be entitled to a percentage of HIS share.

They are living as a family unit. A partner cannot be a lodger (and obviously cant be a tenant). So it is not rent.

You being joint tenants is irrelevant for this issue. (unless you're saying something im not seeing?)

Your previous post read as if a new partner would be entitled to a share, but I would be entitled to nothing.
I mentioned that we are joint tenants as opposed to tenants in common. From what I have read that means we each own 50%.

System

millie84 wrote: »

Your previous post read as if a new partner would be entitled to a share, but I would be entitled to nothing.
I mentioned that we are joint tenants as opposed to tenants in common. From what I have read that means we each own 50%.

Incorrect, you both own the whole property not 50% each

From https://www.gov.uk/joint-property-ownership/overview

Joint tenants

As joint tenants (sometimes called ‘beneficial joint tenants’):

• you have equal rights to the whole property
• the property automatically goes to the other owners if you die
• you can’t pass on your ownership of the property in your will

So you could always have him killed, pushed under a bus or off a cliff and you get the whole house for nothing :lol

DandelionPatrol

Guest101 wrote: »

No, no they dont. I really though you knew better...

Obviously, the context of my comment went right over your head.

If the equity is split 50-50, then I cannot see any reason to charge the ex half rent.

But in response to a comment suggesting that the ex should get substantially more than 50% of the equity, I think that it is worth taking the notional rent into consideration.

I don't think that there is ever a right answer to all of this, but there are plenty of factors which can be thrown into the mix.

Kynthia

The OP would have a very strong case for asking for 50% of the equity if she had been paying half the mortgage less half what the rent would be (as the ex should theoretically pay half rent for living there while the other owner pays rent to live elsewhere). If half the mortgage and half market rent are comparable then the OP still has a strong case for 50%.

However considering how little equity there is and the fact that costs will be involved, whether forcing a sale or being bought out, the amount of money to ask for really isn't important. Clearly with so little money involved the priority is for the OP to get her name removed from the mortgage. Therefore the main thing is whether the ex can get a lender to give him a mortgage in just his name. If not then it's likely the OP will have to force a sale to get her name removed as the ex is unlikely to do this voluntarily.