House owned 50% each - one wants to sell

[wheeler]

Hi,

Can anyone give advice on the following situation:

Mary has a PPR which she owns 50% of. The other 50% is held by her friend Louise.
Louise wants to sell her half and move on.
Mary wants to buy her our but can't afford it so her boyfriend Jamie has offered to buy Louise's share.

Question:
Can Louise sell to Jamie without getting Mary involved?
If not then what are the options?

 

[mf1]

I'd be pretty certain that they'd all have to be involved to some extent. Taking up the Deeds will require all of the owners' signatures and if the same mortgage remains on the title, with the same lender, Louise will have to be released and Jamie joined in. If the old mortgage is being redeemed and a new one put in place it will be in the joint names of both Mary and Jamie.

Why would Mary not want to be involved?

mf

 

[wheeler]

Mary wants to just continue paying the mortgage as is and to leave the change of ownership of 50% fully to Jamie and Louise.

If they have to go down the road of officially selling the house, paying off the mortgage in full, and then getting a new mortgage then it will mean having to pay the fees associated and getting all the paper work together again.