Overseas Property

RoyallySkint

A couple of years ago my father purchased a small overseas property, he exclusively financed the purchase, but he did add my mother, two brothers and me as joint owners.

If i was to go BR what are the implications for this property, could the OR force the family into selling the property to realise my share, even though i have not paid a penny towards it.

Would i be allowed a period of grace to raise my share or for my OH to contribute.

Thansk for your thoughts

Conor_3

Provisionally, I'd say yes as you have a beneficial interest in it although someone who knows better may contradict me.

You are allowed a period of grace to a point and the other owners can buy out your share of any equity and pay the money to the OR. If they then choose to still let you keep your share then that's between you and them - the OR would have had their money. Just to add that this is only the equity, not the full value and should it so happen to be valued at what it was bought for...