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I love my optimism. I bought a house 5 years ago with a girlfriend. We then split up and we have been amicably renting the place out to a 3rd party for the last 3 years. I now need to sell up. Is there any way I can force a sale as she does not want to sell? I am desperate for an answer.
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Shoot her.
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If you jointly own the house, then you cannot force a sale of the freehold without her consent.
Get her to buy you out? |
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don't think you can force a sale against her wishes ;why not offer her slightly over a 50/50 split of proceeds.
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You can't force a sale, get it valued by a couple of agents. You'll get an idea of what equity there is in the gaff and you'll have to cut a deal. If she doesn't play ball you're stuffed.
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she wont play ball....she absolutely wont. Technically the bank own it as we have a mortgage.
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we went 50/50....................I got the outside
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They don't Blades. My ex wife is living in a massive house near cambridge that she
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..never chipped in a dollar for. I paid for everything.
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I was thinking that if I stopped paying my share of the mortgage, then the bank would repossess and sell and then I would get my share...all seems a bit drastic though??
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I'd be extremely careful about stopping payments on your share of the mortgage!
You should be able to force a sale, but you'll probably have to resort to a court order to do it. If you have a Joint Tenancy, it might be easier if you 'sever' the joint tenancy first (not very difficult to do), and turn the agreement into Tenants in Common instead. That would allow you to sell your half (if you could find a buyer), and might well make it easier to force a sale. Forcing the sale through court order will be costly and quite time-consuming, but if she realises you're serious, she might be more sensible about it and agree to a normal sale of the property instead - which would probably save both of you a lot of money, and may well get you a better price on the property as well. You probably need a good solicitor, but there are ways round it, if you're determined. |
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Q Some years ago I inherited 50% of a property and two other family members inherited the remaining 50%. I believe we own the property as tenants in common.
I have been living in this property since then and would like to buy out the other two owners. What is the best way to approach this? Can they force the house on to the open market in order to get the best price they can? Or can we appraise the house and offer them their relative percentage of the appraisal? I fear they will be able to force an auction sale and I will lose the whole house in the process. However, can they really do this if I own 50% of it? GP A To answer your last question first, yes your co-owners can force a sale of the property, but as this would involve getting a court to order the sale – and substantial legal fees – I doubt they would want to bother. I also doubt your relatives would be moved to force you to put the property up for auction, as those sold at auction typically sell for less than those sold to private buyers. What I suggest you do is get three estate agents to value your home as if it were to be sold on the open market. You could then take an average of these figures and offer to pay your co-owners half that figure to buy out their share. You could also point out that selling to you would save money on estate agents' fees and other costs associated with selling on the open market. |
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RB - do you have a source for your 10:01 post?
Thanks |
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Why don't you rent it, move in with your new bird and trash the place, she'll probably be fairly keen to sell up then.
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http://www.theguardian.com/money/2013/jan/30/co-owners-force-auction-sale
type in how do i force a sale 50% owned property uk in google search for more information. |
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Thanks for your comments
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