U
urbanhell
Guest
Hi,
Just wondering if anyone has any "constructive" solutions to my problem.
I bought a hse in dublin city centre with my brother a number of years ago.
I asked my then sol. what we should do if one of us wanted to sell/buy the other out etc. and he advised that a written agreement wasnt worth anything and the best thing to do was make a verbal agreement that we would sell if either of our circumstances changed.
Roll forward a couple of years and my brother moved in his girlfriend on the condition that she paid rent to me, which she did for a number of months but then suddenly stopped paying and began threatening that she had "rights" over the house. Alarm bells ringing I confronted the brother over this and he said "tough" basically. I then said as per agreement that we should sell the house (I got a valuation of EU500k approx). He said he was not in agreement and again "tough". Following more discussions it turned out that he had married the girlfriend, so she now has legal rights over the sale consent of the house.
The situation I now find myself in is that:
I am now married and have moved out of the house (3 years)
The house has been on sale for this length of time.
My brother is paying half the mortgage and I have been paying the other half for the past 3 years on a hse I dont live in.
My sister in law is living in the house rent free for this time and has stopped contributing to the utility bills-she is now estranged from my brother.
All the bills are in my bro's name and he is in arrears to the tune of circa Eu3k, last time I checked.(I dont know the rest of his financial issues but I suspect he is in serious debt.)
The house hasnt sold and is not kept in any condition to be sold at the mo' as the two of them are happy to live in squalor and not clean it.
Has anyone got a solution to this??
The mortgagor is willing to transfer the equity into my name but not my brother so I couldnt even give him the house if I wanted to
The house it not habitable so I wouldnt be able to let a bedroom to pay for my share of the mortgage (+ its only a 2 bed and my sister in law isnt moving)
I have considered cancelling the DD to the mortgagor and letting my brother set up a DD through his bank to let him worry about paying the full mortgage but I suspect he would default and although losing the house and having to pay off the neg equity wouldnt be the worst thing, I am concerned about my credit rating when looking for a new mortgage with my wife.
I have also considered contacting the mortgagor and selling my share of the mortgage, but am not sure that would even be an option
Any views?
Financial advise?
Legal opinions?
As I said, I have had enough throwing money away at this stage!
Rsvp
Just wondering if anyone has any "constructive" solutions to my problem.
I bought a hse in dublin city centre with my brother a number of years ago.
I asked my then sol. what we should do if one of us wanted to sell/buy the other out etc. and he advised that a written agreement wasnt worth anything and the best thing to do was make a verbal agreement that we would sell if either of our circumstances changed.
Roll forward a couple of years and my brother moved in his girlfriend on the condition that she paid rent to me, which she did for a number of months but then suddenly stopped paying and began threatening that she had "rights" over the house. Alarm bells ringing I confronted the brother over this and he said "tough" basically. I then said as per agreement that we should sell the house (I got a valuation of EU500k approx). He said he was not in agreement and again "tough". Following more discussions it turned out that he had married the girlfriend, so she now has legal rights over the sale consent of the house.
The situation I now find myself in is that:
I am now married and have moved out of the house (3 years)
The house has been on sale for this length of time.
My brother is paying half the mortgage and I have been paying the other half for the past 3 years on a hse I dont live in.
My sister in law is living in the house rent free for this time and has stopped contributing to the utility bills-she is now estranged from my brother.
All the bills are in my bro's name and he is in arrears to the tune of circa Eu3k, last time I checked.(I dont know the rest of his financial issues but I suspect he is in serious debt.)
The house hasnt sold and is not kept in any condition to be sold at the mo' as the two of them are happy to live in squalor and not clean it.
Has anyone got a solution to this??
The mortgagor is willing to transfer the equity into my name but not my brother so I couldnt even give him the house if I wanted to
The house it not habitable so I wouldnt be able to let a bedroom to pay for my share of the mortgage (+ its only a 2 bed and my sister in law isnt moving)
I have considered cancelling the DD to the mortgagor and letting my brother set up a DD through his bank to let him worry about paying the full mortgage but I suspect he would default and although losing the house and having to pay off the neg equity wouldnt be the worst thing, I am concerned about my credit rating when looking for a new mortgage with my wife.
I have also considered contacting the mortgagor and selling my share of the mortgage, but am not sure that would even be an option
Any views?
Financial advise?
Legal opinions?
As I said, I have had enough throwing money away at this stage!
Rsvp