Mortgaged property bought jointly, who owns it?

Annisele

Even if you started out as beneficial joint tenants, it's possible to sever a joint tenancy. If your mother has done that, she'd then be free to will her part of the property (whether that's a third, a half, or some other amount) to anybody she wanted.

If your mother hasn't severed the joint tenancy, you still might want to consider it. (To be clear, I'm not recommending you actually do that - only suggesting you think about it, and take advice). If you're right about holding as joint tenants, then if you and your wife were to die together (in an accident or something) the house would pass entirely to your mother. Your wills (if you have them) would have nothing to do with it, and the property wouldn't pass to any children you have.

I think it's unlikely that letting the property is part of the solution. For one thing, do you really want to set up a business with your mother? If you become joint landlords, that's what you'd be doing. For another, if you still have a mortgage you'd need permission from your mortgage lender to let the property - and you'd also need to comply with a whole raft of rules and regulations. It's not something to undertake lightly, especially not if there's a risk one of the joint owners would be minded to sabotage things.

If you really thing the relationship is unsalvageable, then I think you need to consider whether paying for two properties is going to be possible long term. If not, then you'll have to consider trying to force a sale. And for that, you will most definitely need legal advice.