Helping a friend - Ex wants to buy her out

Ath_Wat

Momanns said:

Not really sure what that adds? 

He has not wanted to live there and moved into rented to shack up with someone 15 years his junior. Obviously, she can't stop him buying any other house but that isn't what anyone is asking about. I suspect he is trying to buy the other 50% on the cheap to sell on the open market for profit. This is not a pleasant man we are talking about. 

That's a completely different question.  Obviously she shouldn't sell it "on the cheap" and can't be forced to. 

What she can't do is stop him living in that village.

TripleH

IF he can afford it, let him buy her half as open market value (get an external 3rd party valuation for the property, not his word).

In a village, word would get round and if your friend's family are established there, I would not like to be the innocent new lady in this. She may well find it hard to fit in if she gets the cold shoulder from everyone and I doubt they would remain in the house long term anyway.

molerat

Momanns said:

Not really sure what that adds? 

He has not wanted to live there and moved into rented to shack up with someone 15 years his junior. Obviously, she can't stop him buying any other house but that isn't what anyone is asking about. I suspect he is trying to buy the other 50% on the cheap to sell on the open market for profit. This is not a pleasant man we are talking about. 

Momanns said:

I think it's more she would have to continue living in the village (with family or her own rented) knowing he was in "their" house with the woman he had an affair with. It's more of an emotional thing at the minute but finances will come into it I'm sure.

Thank you all

Which one is it ?

Momanns

Both - they are two separate things. We suspected he is trying to buy the house cheap (using intimidation and his usual controlling ways) and she doesn't want the stress/emotion of them living in the that house if she can avoid it. 

Thank you to those who posted useful replies but I remember when this forum used to be helpful not full of pathetic posts full of sarcasm. If your response doesn't add anything, maybe just don't respond. It's also not a crime to post on behalf of a friend, particularly one in a slightly vulnerable situation which we as her friends are helping her through. 

Momanns

Ath_Wat - No one is suggesting he can't live in the village or buy the house next door. The question was whether she would have to sell the house they own to him if he could buy her out as joint owners. 

Titus_Wadd

I bought out my first husband when we split and it was a huge mistake (early 90s with galloping interest rates, which galloped even faster after I remortgaged!).  We had a couple of estate agent valuations and then I had a survey for my mortgage so we agreed the price was fair.  I paid off the old mortgage and started a new one on my own.  I hope this helps. 

Whatever the solution it just has to be a clean break, so the OP's pal should take their share of any equity and move on.  I lived in a small village too but I never crossed paths with my ex, even accidentally.

jonnydeppiwish!

Momanns said:

It's more of an emotional thing at the minute but finances will come into it I'm sure.

Thank you all

Then that’s where the issue is. She’s needs to separate it from emotion. Difficult I know, but that emotion will potentially cost her a lot of money if the ex forces a sale through the court, or refuses to sell via the open market.

Get her to treat it as a business transaction, 3 values from different EAs and go from there.

jonnydeppiwish!

Momanns said:

Ath_Wat - No one is suggesting he can't live in the village or buy the house next door. The question was whether she would have to sell the house they own to him if he could buy her out as joint owners. 

But can she afford to stay in the house if he doesn’t? That’s possibly more the question.

jonnydeppiwish!

Titus_Wadd said:

I bought out my first husband when we split and it was a huge mistake (early 90s with galloping interest rates, which galloped even faster after I remortgaged!).  We had a couple of estate agent valuations and then I had a survey for my mortgage so we agreed the price was fair.  I paid off the old mortgage and started a new one on my own.  I hope this helps. 

Whatever the solution it just has to be a clean break, so the OP's pal should take their share of any equity and move on.  I lived in a small village too but I never crossed paths with my ex, even accidentally.

But one buying the other is also a clean break - saves potential issues further down the line if one party doesn’t agree to a sale price etc. This way, assuming the price is correct. It can over and done with with minimal input from the Op’s friend.

As for them living in the village - it happens and your friend can’t dictate where the ex can or cannot live. There may people who want to gossips but ultimately, no one really cares.  People will just get on with their lives, even though the friend may not be able to.

Brie

TBagpuss said:

Broadly speaking, yes, if he can buy her out and leave her in the same (or better_ position thabshe would be if  the house were sold on the open market then it would be unreasonable for her to block the sale.

Of course, if she is in a position to buy him out then she can propose that instead, and if he is no able to raise enough to buy her out and clear the current mortgage then he can't force her to remain on the mortgage or to accept less than market value for her share of the house. 

Is this correct?  I thought that if he can't raise sufficient credit to remortgage and thus buy her out then they would have to continue being joint on the mortgage even if one or the other isn't paying their share.  Happy to be corrected if I'm not right.