Can I be forced into selling to my ex?

artfulldodger86

Hello,

we currently own a home together but she wants to buy me out and I would rather sell on the open market even if I take a loss. Can she force me to sell it to her?

she has offered £2.5k to walk away
the house is valued at £125k,
£87k outstanding on mortgage,
£23k deposit from her parents plus building work so around £30k
We brought the house for £110k

It's not about the money for me, but I just want to know if she can force me to sell it to her.

Thanks in advance

Alter_ego

Any children involved?

artfulldodger86

Not as such, I do have children from a previous relationship, but as she struggled to cope with them they don't stay at my home, we stay at my parents every other weekend.

Pixie5740

She can't force you to sell it to her but as a joint owner of the property she can block the sale of the property to anyone else. You could then go to court to force the sale of the property which will cost you time and money. Who knows which way the judgement would go since your ex is willing to buy you out.

It would be easier for you just to negotiate a price with your ex so you can walk away severing the financial link sooner rather than later.

AnotherJoe

artfulldodger86 wrote: »

It's not about the money for me, but I just want to know if she can force me to sell it to her.

It would be if you went down this route since you could lose a LOT of money on legal expenses. I was reading one this past week where the costs for fighting against selling (and it was the person living in the house who lost) were £200k.

Now, that went all the way to the Supreme Court, but even so would you be willing to gamble say £20k of your money so you could prevent her buying it ? She might lose out instead of course, if the two if you want to go for a War of The Roses slugfest knock yourselves out

artfulldodger86

AnotherJoe wrote: »

It would be if you went down this route since you could lose a LOT of money on legal expenses. I was reading one this past week where the costs for fighting against selling (and it was the person living in the house who lost) were £200k.

Now, that went all the way to the Supreme Court, but even so would you be willing to gamble say £20k of your money so you could prevent her buying it ? She might lose out instead of course, if the two if you want to go for a War of The Roses slugfest knock yourselves out

I am more than happy to sell, I just would rather not sell it to her If possible.

bouicca21

Tough as it is, you need to take the emotion out of this. It's a marital asset and no longer a home. I totally get where you are coming from, but it's not just the price of her freedom, it's the price of yours too.

AnotherJoe

It depends how hardball you want to play and who blinks first.
She can prevent you selling and you can prevent her buying.
Then it goes legal and most likely the first time it does that you've both spent a fair bit of money and both lost. If you don't care about that and are happy that for every (say) £1k in legal fees you spend she has to spend the same then you can push it right up to the point it goes to court because after that, if you lose, the money she was spending all of a sudden becomes yours as it's shown you were acting unreasonably and she is awarded costs.

Your best bet is most likely to ask more.

. What else did you contribute to the property ? Why aren't you getting 1/2 the equity after her deposit is accounted for which I make £4K ( 1/2 of £8k). So, I'd just ask for a bit more and then sell to her and be done and move on with your life. Be grateful you aren't in negative equity

Keep_pedalling

You have 2 choices really, but you really need to stear clear of your current idiotic one, and like and any muture adult should do, go for the simple option of a quick clean break in letter her buy you out.

I would agree to let her buy you out, but I would want half the capital gain, so ask her nicely to raise her offer to £4000.

Oakdene

Was it written as a condition of the deposit that it was repayable upon sale of the house or upon termination of the relationship? If not then, I guess if you really wanted to play hardball, you're entitled to more...

artfulldodger86

This is never about the me being Spitefull. She can only raise £2500 to buy me out.

Basically her parents gave us the deposit, which at the time of signing all the paperwork i made sure that she gets the depot back before i get anything. So basically she gets the first £23k from any sale then its 50/50 after that. of which i want to pay her parents back materials and things..

As i earn the most I pay over 60% of the bills and have always done that. She moved career and took a pay cut so the only fair way of paying bills was to do it over a percentage. Part of which was £150 a month to pay her parents back.