R
Reg
Guest
Just wondered if anybody had any knowledge or experience of a situation like mine. I am joint owner of a house bought three years ago with my ex partner (we were not married). Shortly afterwards we split up and now live in different, separate residences, said house having remained as a weekend home. Although the property deeds and mortgage are in both our names, 50/50, I have financed, and am still financing, the entire operation (downpayment, mortgage, bills, furniture, upkeep, taxes, etc. etc.) with many years of mortgage still to go. We are both now in new relationships and I need to sell the property. Despite having financed everything, I totally realize, and agree, that I have to give my ex partner 50% of the money received on the house after deducting the remaining mortgage, and will just have to consider it a lesson learnt. However, she says she refuses to sell, and given that she makes no kind of contribution whatsoever (no mortgage, tax, repairs...) she stands to gain far more if I spend the next twenty years paying the entire mortgage off and she then claims half the worth of the house. I saw some interesting articles on another thread (buying together) about how sensible people who are buying a house together make special agreements in the event of the relationship breaking up, or one party wanting to sell the house and the other wanting to hang on to it. Unfortunately I’m not one of those people and I would like to hear if anyone knows the procedure to follow if one partner steadfastly refuses either to sell or buy the other out, nor to contribute to any of the costs. I believe that in the event of one co-owner wanting to sell (50/50 ownership), the other owner can eventually be made to sell by taking them to court, but what happens if the unwilling party does everything to make the process as long and as drawn out as possible while refusing to make any kind of contribution? What is the best way to deal with it? How long could it take? Also what is the minimum sale price the unwilling co-owner would be obliged to accept?
I am particularly interested in knowing if the person who does not want to sell, or places serious obstacles in the selling process, can be obliged to repay costs incurred (non-payment of their part of the mortgage, legal costs, etc.) from the moment the other owner makes clear his wish to sell, and is looking for or has found a buyer. I feel this could be the only leverage I might gain in my attempt to prevent an interminable legal process, given that the main motive for my ex’s attitude is financial benefit. If there were a choice between gaining X quantity of money today, and X quantity of money at a later date minus costs, I’m pretty sure she would suddenly have a change of mind.
I will shortly be consulting a lawyer about the whole process, but would like some “real input” as well as to have an idea of what to expect from a legal professional.
I’d greatly appreciate any insights.
Thanks!
I am particularly interested in knowing if the person who does not want to sell, or places serious obstacles in the selling process, can be obliged to repay costs incurred (non-payment of their part of the mortgage, legal costs, etc.) from the moment the other owner makes clear his wish to sell, and is looking for or has found a buyer. I feel this could be the only leverage I might gain in my attempt to prevent an interminable legal process, given that the main motive for my ex’s attitude is financial benefit. If there were a choice between gaining X quantity of money today, and X quantity of money at a later date minus costs, I’m pretty sure she would suddenly have a change of mind.
I will shortly be consulting a lawyer about the whole process, but would like some “real input” as well as to have an idea of what to expect from a legal professional.
I’d greatly appreciate any insights.
Thanks!