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Property: First Right of Refusal
BP1ME
Posts: 21 Forumite
Hi,
I bought a house 2 years ago with a declaration of trust drawn up between us.
Boyfriend smashed the TV up last Sat and was removed from property by police and is now staying with Mum.
The Declaration of Trust says I own 50% (no mortgage) and that in the event of a separation I have the Fist Right of Refusal.
What does this mean? That I get the chance to offer to buy him out first? What if he doesn't agree? What if he wants an unrealistic amount of money?
Any advice on the first right of refusal very welcome. Thanks.
I bought a house 2 years ago with a declaration of trust drawn up between us.
Boyfriend smashed the TV up last Sat and was removed from property by police and is now staying with Mum.
The Declaration of Trust says I own 50% (no mortgage) and that in the event of a separation I have the Fist Right of Refusal.
What does this mean? That I get the chance to offer to buy him out first? What if he doesn't agree? What if he wants an unrealistic amount of money?
Any advice on the first right of refusal very welcome. Thanks.
0
Comments
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...What does this mean? That I get the chance to offer to buy him out first? ...
It normally means that if he wants to sell his share, you have the right to buy him out before a third party gets the chance....What if he doesn't agree? What if he wants an unrealistic amount of money?...
Lawyers. Court.0
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