Tenants in common

mo786uk

Pixie5740 wrote: »

Good grief Charlie Brown. If you want meaningful advice could you please give us the facts instead of your abridged version of them?

From what I can gather, back in September only Matt was named on the mortgage and the deeds? When did this change so that A and B, one of whom is either Matt or Rob, became joint owners and took out a joint mortgage?

It's a bit early in the morning for riddles but if I had to guess I would say that you are Matt (going by your user name) and that Matt is B. Am I right?

The information in that thread is not relevant to this question so I am not sure why you are going back through old threads trying to link them together.

As for your next post, where you say the mortgage company do have an interest I will look into this further.

My reading was that even people who are not listed on the mortgage can have a beneficial interest. So I was unclear why someone cannot sell their beneficial interest without mortgage company approval.

Pixie5740

mo786uk wrote: »

The information in that thread is not relevant to this question so I am not sure why you are going back through old threads trying to link them together.

As for your next post, where you say the mortgage company do have an interest I will look into this further.

My reading was that even people who are not listed on the mortgage can have a beneficial interest. So I was unclear why someone cannot sell their beneficial interest without mortgage company approval.

It is relevant because I suspect that A and B do not have a joint mortgage at all and are not joint legal owners of the property which is not the information you gave in your OP and is very relevant to how A, B and C proceed.

People give up their spare time to help others on this forum it would be nice if those seeking advice gave the facts as they are instead of wasting people's time with half baked stories and multiple threads about the same thing.

mo786uk

Pixie5740 wrote: »

It is relevant because I suspect that A and B do not have a joint mortgage at all and are not joint legal owners of the property which is not the information you gave in your OP and is very relevant to how A, B and C proceed.

People give up their spare time to help others on this forum it would be nice if those seeking advice gave the facts as they are instead of wasting people's time with half baked stories and multiple threads about the same thing.

You are assuming that the other post has anything to do with this post/house - if I felt there was additional information to do with THIS transaction I would have added it in.

steampowered

mo786uk wrote: »

As I understand the mortgage company cannot stop A selling their share can they?

Absolutely, they can.

Legal title to property vests in whoever is registered as the owner at the land registry. When you have a mortgage, a restriction is entered which prevents any transfer from being registered without the consent of the lender.

My reading was that even people who are not listed on the mortgage can have a beneficial interest. So I was unclear why someone cannot sell their beneficial interest without mortgage company approval.

The beneficial interest is subject to the mortgage, not just the legal title. C can't take any interest in the property (whether legal or beneficial) free from the mortgage, that is the point of having a mortgage.

A mortgage is a property right. It is security over land. Not just an obligation to repay.