We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Joint ownership of a house
Options

Billybob55
Posts: 2 Newbie

Hello All
I am looking to be pointed towards some advice on a issue a friend has (honest it is for a friend) I have tried the net, but no real advice.
If 3 friends own a house and are on the mortgage, they all pay the mortgage, the friendship breaks down, 1 moves out, the other 2 stay in house and carry on paying the mortgage.
We are now 10 years down the road. If the 2 now want to sell the house, will the 1 who has not paid anything towards the house or mortgage still be entitled to there 33% of any profit. I am unclear at the moment if there is declaration of trust in place.(trying to find out), but let says there isn't.
I am looking to be pointed towards some advice on a issue a friend has (honest it is for a friend) I have tried the net, but no real advice.
If 3 friends own a house and are on the mortgage, they all pay the mortgage, the friendship breaks down, 1 moves out, the other 2 stay in house and carry on paying the mortgage.
We are now 10 years down the road. If the 2 now want to sell the house, will the 1 who has not paid anything towards the house or mortgage still be entitled to there 33% of any profit. I am unclear at the moment if there is declaration of trust in place.(trying to find out), but let says there isn't.
0
Comments
-
find out the facts rather than indulge in speculation.
is it Tenants in Common (unlikely not to have DoT) or is Joint Tenants (impossible to have a DoT)?0 -
Thanks bookworm105, I wasn't indulging in anything. It was to preempt that question being asked, that I currently don't have the answer to.
It's held as tenants in common.0 -
Billybob55 said:
It's held as tenants in common.
Random google result:
https://osborneslaw.com/blog/declaration-of-trust/#:~:text=For%20tenants%20in%20common%2C%20the,purchase%20price%20than%20the%20other.
Unpaid mortgage is a matter outside of the legal and beneficial ownership, and would need to be negotiated between the 3 of them (or worst case end up in court).0
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 351.1K Banking & Borrowing
- 253.2K Reduce Debt & Boost Income
- 453.7K Spending & Discounts
- 244.1K Work, Benefits & Business
- 599.2K Mortgages, Homes & Bills
- 177K Life & Family
- 257.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards