Tenants in Common x4

xylophone

This really does not make sense.

It seems that a mother and her elder son took out a mortgage and bought a farmhouse with attached barn (the Property).

The younger son wanted the barn converted for his occupation and became a party to an increased mortgage - the title to the Property was registered as tenants- in common - a third each?

The younger brother subsequently married and gave half his share to his wife - this would mean that the whole of the property, farmhouse and barn together was owned by all four of them?

How have the younger brother and his wife ended up as sole owners of the barn conversion?

Does the OP really mean that the younger brother and his wife are the sole occupants of the barn conversion?

Is there still a mortgage to which all are parties?

G_M

The headless chickens are running around ever faster......!

TBagpuss

It may be that the title to the barn was separated from the title to the farm and put into the brother's sole name.

Hwever, if Op is correct and the barn is owned by brother + wife, and the farmhouse is owned jointly by Mother and 2 brothers (or by mother, 2 brothers and brother's wife) then in selling the farm they should be looking at achievingthe best price. the fact that ypunger brother may not want to live next door to the potential buyer is not relevant to whether or not thatbuyer's offer is reasonable.

If younger brother wants to control who lives then then he would need to buy out his co-owners (at market value) and then he could decide who he sold to.

If he refuses to sell and then the property is sold to a different buyer at a lower price then the other owners could argue that the loss should come out of his share.

However, these are complicated areas. I'd suggest that the mother and brother get some advice to clarifyy:

1. Do they have any claim against the barn converstion? depending on the situation, they may have a claim under resulting or constructive trusts which could potentially be used as a negotiation tactic where the ownership of the farm house is concerned.

2. Where to they stand in insisting on a sale to the buyer who is available? What steps should they take to protect themselves in the evente the sale collapsing results in more costs or a loss of value?

3. What can they do to ensure thatt any new sale doesn't fall through?

Is there any possibility that younger brother is hoping to make the farmhosue so hard to sell that his mother and brother will sell it to him at a knock-down value?

Is there any legiotimate reason for him to be worried about the curent buyer or is he simply being awkward? If there is a genuine reason why this person would not be a desireable neighbour then it may be worth negotiating about re-marketing the house. If there is nothing obvious wrong with him and brother is simply being awkward then you may want to be more robust.

G_M

Squark cluck squark....... (do chickens cluck once they are headless?).

Unless OP comes back and explains, further speckling is as pointless as grating the cheese for an omelette before the hens have laid the eggs.

PeterLWilson

The younger brother originally initiated the sale after acquiring his share of the farm through a technicality, brought about by the benevolence of the elder bother and mother. He then leveraged his position to force the mother and elder brother to move out of their own home.... Wow!

I would advise the elder brother and mother to tell the younger brother that if he does not accept the proposed sale, the property will be taken off the market since they revoke their agreement to sell.
Sounds like a nasty neighbour with dogs is the least of what this guy deserves.

hazyjo

I'm not even gonna attempt this one...


I'll get me coat.


Jx

M1JWR

Hi all
As the hen is on holliday, and i know about this situation i can clarify
There are 3 tennants in common from 2004 to present, a mother and two sons
on the main property, not the barn conversion which is owned by the younger son
with his wife.
it was agreed and signed by all 3 tennants in common in 2012 to sell the main property
because of a family dispute, which i dont think will ever end.
the question is as they have an interested party who is not liked by the younger son,
he is going to refuse any offer from the interested party
does that put the sale in jepordy.
or in otherwords does it take all three to accept an offer or will two do
it would help this situation greatly as currently its in stalemate

Mojisola

M1JWR wrote: »

Hi all
There are 3 tennants in common from 2004 to present, a mother and two sons on the main property

it was agreed and signed by all 3 tennants in common in 2012 to sell the main property

does it take all three to accept an offer or will two do

All the owners will have to agree unless the buyer would be willing to buy out two of the owners but that's extremely unlikely - the new owner would then be a tenant in common with someone who dislikes him.

M1JWR

thanks for reply, looks like stalemate
looks like the only option is to split the property
the other two do have corrispondance from 2012 of younger brother
one says in a nutshell sell or else court action
and the other says that he will accept any offer on the property

Mojisola

Have the mother and brother taken legal advice - they really need professional advice from someone who has all the paperwork in front of them.

The whole thing sounds like a real mess.