Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • Shimla999
    • By Shimla999 7th Feb 18, 6:55 PM
    • 15Posts
    • 0Thanks
    Shimla999
    Tenancy in common - selling my part
    • #1
    • 7th Feb 18, 6:55 PM
    Tenancy in common - selling my part 7th Feb 18 at 6:55 PM
    Hi,

    I own 50% of a flat in London with my ex-partner. We are tenants in common. The house is currently rented out and we do not live in the UK - we live in Spain. We have a young daughter and joint custody after separating in December 2017.

    I now want to sell my share of the property in order to buy a new house. However, I am pretty sure he will not want to sell his share. He does not need the money as he owns the property I am living in (I am now paying him rent). I own a flat in a city 2 hours away from here but cannot live there as our daughter goes to school in this area. I have read that I would probably need a court order to be able to sell my part. Is that true? If so, how expensive would that be and how likely would it be that a judge would grant me the right to sell my part of the flat? I don't think he has enough money to buy me out.

    I'm a bit confused about how this works!

    Many thanks in advance!

    Shimla
Page 1
    • seashore22
    • By seashore22 7th Feb 18, 7:00 PM
    • 923 Posts
    • 1,989 Thanks
    seashore22
    • #2
    • 7th Feb 18, 7:00 PM
    • #2
    • 7th Feb 18, 7:00 PM
    You can't sell half a property. Who would buy? Would they move in with your partner? I don't think so.

    He either buys you out or you both sell up.
    • Shimla999
    • By Shimla999 7th Feb 18, 7:19 PM
    • 15 Posts
    • 0 Thanks
    Shimla999
    • #3
    • 7th Feb 18, 7:19 PM
    • #3
    • 7th Feb 18, 7:19 PM
    OK - sorry, I'm very confused about all this. My ex-partner does not live there - the flat is rented out through an agency. So, if, as I said, he cannot buy me out, how do I sell my part? Would a court order work? I am not sure what it entails.

    Many thanks!
    • 00ec25
    • By 00ec25 7th Feb 18, 8:03 PM
    • 6,248 Posts
    • 5,769 Thanks
    00ec25
    • #4
    • 7th Feb 18, 8:03 PM
    • #4
    • 7th Feb 18, 8:03 PM
    OK - sorry, I'm very confused about all this. My ex-partner does not live there - the flat is rented out through an agency. So, if, as I said, he cannot buy me out, how do I sell my part? Would a court order work? I am not sure what it entails.

    Many thanks!
    Originally posted by Shimla999
    stop focusing on the how to sell and think instead of who is going to buy half a flat????

    OK, so it is let and has a tenant. Where are you going to find an investor willing to come into a partnership with your ex so that the investor gets a share of the rental income? That is a very, very narrow market. Yes there are undoubtedly a handful of investors who would buy in such a situation, but do you know where to contact them or do you know where to find an agency who has such contacts themselves??

    No one in their right mind is going to buy half a flat and try to live in it themselves. It would be impossible as they would need your ex to agree to to evicting the current tenant to start with.


    you own half the property. A court order is only relevant where you need to force him to sell his half so that the whole property can be sold as a single item.
    the fact the property is let would make it less hard to persuade a court that selling will not mean someone becomes homeless. But it will be very expensive to get to court
    • Shimla999
    • By Shimla999 7th Feb 18, 8:22 PM
    • 15 Posts
    • 0 Thanks
    Shimla999
    • #5
    • 7th Feb 18, 8:22 PM
    • #5
    • 7th Feb 18, 8:22 PM
    Thank you for your advice. I agree it would be very hard to find someone to buy half a house. So, I am not sure what I can do. I need the money - I need to sell my part of the house, otherwise I cannot buy another place to live with my daughter. If my ex-partner can't or won't buy me out, the only option would appear to be a court order to force the sale of the property. But if that is too expensive (I'm not sure how much) or it if were not going to work, what options have I got? None it would appear! I am very worried now.
    • 00ec25
    • By 00ec25 7th Feb 18, 8:31 PM
    • 6,248 Posts
    • 5,769 Thanks
    00ec25
    • #6
    • 7th Feb 18, 8:31 PM
    • #6
    • 7th Feb 18, 8:31 PM
    the only option would appear to be a court order to force the sale of the property.
    Originally posted by Shimla999
    it is your most likely option

    a court would look kindly on your case in view of the fact you have custody of the child and need to house her whereas the ex merely has the property as a source of rental income.

    if you win then the legal costs you have incurred would come out of his share of the sales, but depending on your lawyer you may need to pay legal costs up front.


    if you cannot get your ex to be reasonable, then going to court seems your end option, but if you have to resort to a no win, no fee lawyer you may still end up with no money to show for it anyway. You need real concrete facts so you must talk to real lawyers, not try to find answers from internet forums
    • getmore4less
    • By getmore4less 7th Feb 18, 8:46 PM
    • 31,868 Posts
    • 19,100 Thanks
    getmore4less
    • #7
    • 7th Feb 18, 8:46 PM
    • #7
    • 7th Feb 18, 8:46 PM
    Any mortgages on the 3 properties.

    How will you counter the argument if you want to buy sell your other property first?
    • Shimla999
    • By Shimla999 7th Feb 18, 8:55 PM
    • 15 Posts
    • 0 Thanks
    Shimla999
    • #8
    • 7th Feb 18, 8:55 PM
    • #8
    • 7th Feb 18, 8:55 PM
    Thanks for all the advice. Yes, I will contact a lawyer to get more detailed advice. We have joint custody by the way - 50% each. So, she spends equal time with each parent. I am renting the house we used to live in together and paying him the rent, but he will only let me stay here until December. So, I need to find another place to go and I can't go to live in the flat I own (it's too far away and I'm going to have to rent it out to pay the rent here). He is now going to live with his new girlfriend near here. I was the sole breadwinner here but the house is in his name, despite the fact he owes me over 42,000 euros (which he has 3 years to pay me according to the custody agreement, since he says he doesn't have the cash - he does have the house I'm living in and half the flat in London). It's a real mess and very confusing!

    Sorry, I don't understand the question about countering the argument, getmore4le.

    There are no mortgages on any of the properties.

    Many thanks!
    • G_M
    • By G_M 7th Feb 18, 8:57 PM
    • 43,791 Posts
    • 51,758 Thanks
    G_M
    • #9
    • 7th Feb 18, 8:57 PM
    • #9
    • 7th Feb 18, 8:57 PM
    1) are you receiving half the rent from the UK property?

    2) are you declaring it to HMRC?

    3) is there a mortgage on the property? If so, des thenlender know it is rented out?

    4) how much equity is involved (ie after paying off the mortgage)?

    5) the best solution is to pursuade him to buy you out - give you 50% of the current msrket value ( less 50% of costs)

    6) an alternative (if he can't afford to pay you) is for you both to agree to sell, and split the equity

    7) failing this, the only way you can sell is via a court order forcing him to sell his half as well. This will cost you both in the long run. That fact might help pursuade him to do 5) or 6) above

    8) I assume you are receiving income from both your properties - 50% of the UK one, + the 'flat in a city 2 hours away'?

    9) but the best solution is divorce! As part of the divorce, the courts will award a settlement on you both, determing who will receive which assets from the marriage. Oh! Or are you not marrrid? Why do people link themselves together so firmly through property and financial arrangements, not to mention children, yet not marry....?
    Last edited by G_M; 07-02-2018 at 9:36 PM.
    • Tiglet2
    • By Tiglet2 7th Feb 18, 9:08 PM
    • 95 Posts
    • 55 Thanks
    Tiglet2
    Could you not sell the flat in a city 2 hours away, in order to buy something for you and your daughter to live in near the school?
    • Shimla999
    • By Shimla999 7th Feb 18, 9:13 PM
    • 15 Posts
    • 0 Thanks
    Shimla999
    Hi G_M, Thanks for your answer. I'll reply below:

    1) Yes
    2) Yes
    3) No - no mortgage
    4) The flat is worth around 400,000 GBP
    5) Yes, I agree - but he says he doesn't have the money (in cash) right now (if he 87-year-old mother dies, he stands to inherit a lot though) and this house in Spain is worth around 300, 000 euros
    6) I doubt he will want to as the rent from this flat is his source of income - he doesn't work (because he doesn't want to - he is very lazy and has lived off of my income for years). Plus, this was his dad's flat before and I think he is emotionally attached to it - but who knows?
    7) Yes, it looks like it, unfortunately
    8) I am receiving income from the UK property (50%) but have not yet rented out my Spanish flat - I am in the process of organising that right now
    9) We can't get divorced because we never got married. In fact, it is just as well because under Catalan law, I'd be much worse off financially right now if we had been married (he would be entitled to a lot of my money). I don't believe that signing a piece of paper makes you any happier or feel any closer to a person - it is no guarantee the relationship will last. But that is my personal opinion. In terms of property and finance, perhaps it is better to get married - at least in some cases.
    • Shimla999
    • By Shimla999 7th Feb 18, 9:17 PM
    • 15 Posts
    • 0 Thanks
    Shimla999
    Hi Tiglet, Thanks for your reply. Yes, that is an option. And it would be easier, admittedly. However, I don't want to do that. I want to keep the flat - I love it and want to pass it on to my daughter or live in it again myself when she leaves home. It is a good investment too, because it is in a very good area and popular city. I want to cut off all ties with my ex and therefore stop being a co-owner of the flat in London. But yes, it would be easier to simply sell the flat. Anyway, meanwhile it is going to be easy to rent and that will cover my rent here.
    • bris
    • By bris 7th Feb 18, 9:22 PM
    • 7,522 Posts
    • 6,533 Thanks
    bris
    It's not a straight forward case as you already own another property so you can't say you need the money to buy somewhere else. Location isn't an excuse.
    This is a business, not a consumer issue. You rent the flat out in London but live in Spain, there is no reason why a judge would force a sale.


    It's a gamble and it will be an expensive one at that as the legal cost will be significant.
    • Shimla999
    • By Shimla999 7th Feb 18, 9:27 PM
    • 15 Posts
    • 0 Thanks
    Shimla999
    Thanks, Bris. I can see what you mean. So, a court order would be a waste of time and money, it would appear. Therefore, the only way I can get the money from this flat is if he buys me out, it would appear. Is that right? Oh dear!
    • Red-Squirrel
    • By Red-Squirrel 7th Feb 18, 9:54 PM
    • 2,545 Posts
    • 6,837 Thanks
    Red-Squirrel
    I own a flat in a city 2 hours away from here but cannot live there as our daughter goes to school in this area.
    Originally posted by Shimla999
    Would it not be easier to sell this property to raise funds if you need to do so asap?

    Does your ex maybe know anybody who would want to go in on the investment with him and buy you out? A friend? A family member?
    • Shimla999
    • By Shimla999 7th Feb 18, 10:15 PM
    • 15 Posts
    • 0 Thanks
    Shimla999
    Hi Red Squirrel, Thanks for your reply! Yes, it would be easier - in theory - but, as I mentioned, I don't want to sell my property in the city. I love it very much and want to leave it to my daughter. She might want to study in that city in the future or I might want to live there again after she leaves home. So, I would rather rent it out now and not sell it. I can use the rent to rent another place here. But I just want to cut all ties with my ex and not co-own a property with him (it is a very acrimonious split - he left me for another woman in a very nasty way) and also buy another place. In theory, I don't think anyone else would want to invest in the flat with my ex, but I suppose it is a possibility. Thanks for your suggestions!
    • Drawingaline
    • By Drawingaline 7th Feb 18, 10:16 PM
    • 414 Posts
    • 1,403 Thanks
    Drawingaline
    Sell the flat in Spain, buy your ex out of the London flat, then sell the London flat and fund a house in the area you and your daughter live.
    • Red-Squirrel
    • By Red-Squirrel 7th Feb 18, 10:25 PM
    • 2,545 Posts
    • 6,837 Thanks
    Red-Squirrel
    Hi Red Squirrel, Thanks for your reply! Yes, it would be easier - in theory - but, as I mentioned, I don't want to sell my property in the city. I love it very much and want to leave it to my daughter. She might want to study in that city in the future or I might want to live there again after she leaves home. So, I would rather rent it out now and not sell it. I can use the rent to rent another place here. But I just want to cut all ties with my ex and not co-own a property with him (it is a very acrimonious split - he left me for another woman in a very nasty way) and also buy another place. In theory, I don't think anyone else would want to invest in the flat with my ex, but I suppose it is a possibility. Thanks for your suggestions!
    Originally posted by Shimla999
    So you've made a choice, that's totally up to you. But that would have been an easy and sensible way to release some funds to move and you have decided not to do it.

    You won't be able to cut ties with your ex, you have a child together, but I do understand not wanting to have any more joint finances. Other people with more experience might know if that is considered an acceptable reason to force a sale.
    • Shimla999
    • By Shimla999 7th Feb 18, 10:41 PM
    • 15 Posts
    • 0 Thanks
    Shimla999
    Thanks for your replies, Drawingali and Red Squirrel.

    Yes, the logical thing to do - and the easiest . would be to sell my flat, but at the moment I really do not want to do that. I realise that I can't cut all ties - we have joint custody - I was referring to the joint finances, as you say. I want to have a little to do with him as possible. Plus I want to access my equity but realise that it is not easy. When I entered into the deal to buy half of the flat, I thought we would be together forever and I trusted him 100%. I now realise that he was not the person I thought he was. So, in hindsight, it was a very naive thing to do. But I suppose most people don't suspect their partner of many years and the father of their child is going to go off with someone else and try to make their life hell in all possible ways. Hindsight is a great thing. But I would never have a joint account or own a property with anyone ever again!
    • Tom99
    • By Tom99 8th Feb 18, 2:02 AM
    • 1,933 Posts
    • 1,275 Thanks
    Tom99
    Since the flat in London is not mortgaged, could you ex get a BTL mortgage on it in order to buy you out? That way he will probably still end up with about the same net income from the flat plus 100% of any future growth in value?
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

1,552Posts Today

5,804Users online

Martin's Twitter
  • I've decided my weekend starts here while the sun's glow is still baskable. So I'm signing off. Have a great weeke? https://t.co/9FxNEpDs6p

  • No not correct. The big six do, but you can get fixed tariffs guaranteed not to rise and about 25% cheaper. Just tr? https://t.co/B2ft5OS3Ig

  • Baaaa! Scottish Power has bleated and followed the herd, today announcing it's putting up energy prices by 5.5%. R? https://t.co/vi3hBxo4Hn

  • Follow Martin