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Tenants in Common with Mother + Dispute over division of property

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Comments

  • lincroft1710
    lincroft1710 Posts: 19,540 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    edited 1 April 2016 at 3:45PM
    Manxman_in_exile wrote: »
    lincroft - I was deliberately understating it when I said "pretty substantial"!


    I don't know for sure, but I wouldn't be surprised if house prices had risen 20 fold since 1970. Where I live £1 million would buy a nice house. But maybe we live in the wrong part of the country!


    Manxman, I was emphasising your point, OP's house would be subbbbsttttantialllll, if he paid £40K in 1970. Today's house prices are over 60 times what they were in 1970. My grandparents' house was actually sold for £3,200, similar unextended houses now go for £200K plus.
    If you are querying your Council Tax band would you please state whether you are in England, Scotland or Wales
  • Cheeky_Monkey
    Cheeky_Monkey Posts: 2,072 Forumite
    The OP has changed his username hasn't he - I wonder why?
  • AdrianC
    AdrianC Posts: 42,189 Forumite
    Eighth Anniversary 10,000 Posts Name Dropper
    Cheeky_Monkey wrote: »
    The OP has changed his username hasn't he - I wonder why?
    Yep, started off as mdkzeus
  • Fh1984
    Fh1984 Posts: 5 Forumite
    Sorry to tally on this post but i can't find anything else. I have the below question?

    Hi I brought a property with a friend 10 years ago, for the last 7 years I have had nothing to do with it as we had a falling out and the house has since been let out by the other party. He has since contacted me saying he wants to sell it which I am fine with. Will I still be in title to 50% of the profit even if I have had nothing to do with it for so long. ?
  • AdrianC
    AdrianC Posts: 42,189 Forumite
    Eighth Anniversary 10,000 Posts Name Dropper
    That's down to two grown adults to negotiate. If it'd been you left with the property, and your friend was absent, would you feel giving him 50% was fair?
  • Fh1984
    Fh1984 Posts: 5 Forumite
    Considering how much has been made on the rent over the years then yes. I was wondering if it was law that it's 50% as both parties contribution to the depsoit was the same
  • missbiggles1
    missbiggles1 Posts: 17,481 Forumite
    10,000 Posts Combo Breaker
    I'd start a new thread rather than tack on this (very questionable) one.
  • AdrianC
    AdrianC Posts: 42,189 Forumite
    Eighth Anniversary 10,000 Posts Name Dropper
    Fh1984 wrote: »
    Considering how much has been made on the rent over the years then yes.

    Then ask for 50%.
    I was wondering if it was law

    No. The law says nothing about what's an equitable split.

    If he refuses 50%, then - after the house is sold - you can take him to court for the difference between what he pays you and what you feel he should pay you. You might win, you might lose.
  • Fh1984
    Fh1984 Posts: 5 Forumite
    Thanks for your advice it's greatly appreciated. I will make sure that the percentage is agreed before agreeing to the sale as I am on the deeds and land registry
  • AdrianC
    AdrianC Posts: 42,189 Forumite
    Eighth Anniversary 10,000 Posts Name Dropper
    Joint tenants or tenants in common?
This discussion has been closed.
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