Can I be forced into selling to my ex?

AnotherJoe

Fosterdog wrote: »

I guess the other thing would be, who's name is on the mortgage? Would she qualify for it on her own if you say she has taken a pay cut in work? She may not even get a mortgage on her own so it would have to go on the open market.

I did wonder about that, this may be a moot point if she cant get a mortgage anyway. Has she checked?

Ozzuk

Life is too short, move on and focus on the future. If you are petty (and it sounds like you are) then what if she also digs her heels in? You might never be able to sell the house, which will impact your ability to buy something else. What if she stops paying mortgage? You are liable for it - do you want to pay the full mortgage and rent?

take the offer (if she can get the mortgage on her own) and move on.

always_sunny

artfulldodger86 wrote: »

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

So you bought a house without chipping in for a deposit (She didn't either, but neither have you, her folks may gift her and not you that money, not your problem).
The house has increased 12% in value.
I assume that without that deposit, you'd have been renting (so would have nothing anyway)?

Did you split the mortgage payments evenly and for how long?
If it's not about the money, then what is it about?
If you're going to sell at a loss to a stranger or to her, what's the difference?

If the house was bought for 110K - 23K deposit = 87k mortgage which is the same as the outstanding balance you mentioned. So really there is no money, value is hypothetical in case you sell. If she's as bitter she may start to comb through who paid what and be even less.

Sounds like a good deal to me!

D.W.27

Niv wrote: »

In my opinion the OP should not even consider this, they were in a relationship and in a relationship these things happen (I pay approx. 70% of bills - so what? I earn more), when that relationship breaks down you cant 'charge' for your generosity over the years, next I guess the cost of all gifts should be considered...

Agreed. Op seems to want to stick it to his ex in the process here and that's really not worth it. Settle it and walk away clean.

harz99

The crux of this matter is not how much the relatively small amount of money the OP may get back is, nor whether he is being spiteful, it is whether or not the couple's mortgage can be transferred solely into the Partner's name or not.


If not, there is no option but to sell on the open market (unless of course the Partner's philanthropic parents are proposing to pay off the mortgage as a gift to their daughter...).

questionss

Can your ex get a mortgage for the whole amount in just her name, given that she paid lesser share of bills etc...
If she can then her offer is ok, especially if she's covering all the legal fees.

GingerFurball_2

artfulldodger86 wrote: »

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

You won't be living there so what difference does it make?

cashbackproblems

i think you played it all wrong you are entitled to 50% of the deposit as well unless the parents had some sort of legal contract in place.

Also the fact you have been contributed more you should have taken into consideration. I personally would fight it and not take her offer, you are barely getting anything out of it

MobileSaver

cashbackproblems wrote: »

you are entitled to 50% of the deposit as well unless the parents had some sort of legal contract in place.

The OP has already said that there was an agreement with the parents that his ex would get the deposit back before the OP got a share of anything.

martindow

Assuming your ex can get a mortgage in her own name I would accept her offer and break your financial links. If you start demanding more she has the option of letting the current situation continue which would cause you problems if you wanted to buy yourself a house in the future.