House share, one wants to sell and move on, the other doesn't.

[Newmodel]

Re: House share, one wants to sell and move on, the other doesn't.

If I was to move out, legally would I only have to pay the mortgage and no utilities? I don't think my friend could afford to run the place on his own, or if he could he would drastically have to alter his life style which I know he wouldn't want to do.

[Openlaw15]

Re: House share, one wants to sell and move on, the other doesn't.

If I was to move out, legally would I only have to pay the mortgage and no utilities? I don't think my friend could afford to run the place on his own, or if he could he would drastically have to alter his life style which I know he wouldn't want to do.

As on owner, you're still responsible for maintaining the property...as the property is owned by the bank, technically...you just have the right to pay the mortgage off and or sell the property. You would also be responsible for the mortgage and utilities. As you have the mortgage in joint names, if your friend stopped paying the mortgage the bank would come after you for it all, and vice versa.

[wales01man]

Re: House share, one wants to sell and move on, the other doesn't.

Think you need to try and reach an agreement to sell explain what may happen and the consequences of you moving out this may need to go legal for both of you do you and the other owner want to line the pockets of/ Solicitors.
Have you got a valuation of the property and the costs involved in its sale anything you can use to persuade them to agree to a sale may help

[Newmodel]

Re: House share, one wants to sell and move on, the other doesn't.

So i would have to pay electricity and gas etc even though I wouldn't live there? We had it valued a few weeks back as we got offered one by a local estate agent. We know roughly how much we can sell it for, and how much would be left after the mortgage and fees etc.

I personally don't care if I make a profit or not tbh I just want my dad's money back and to get out. I will have to see if I can make him see sense.

Thanks guys, you've all been a great help, given me a few ideas, I have a solicitors appointment on Monday, I will take all I've learned from here and see what he says.

[Openlaw15]

Re: House share, one wants to sell and move on, the other doesn't.

So i would have to pay electricity and gas etc even though I wouldn't live there? We had it valued a few weeks back as we got offered one by a local estate agent. We know roughly how much we can sell it for, and how much would be left after the mortgage and fees etc.

I personally don't care if I make a profit or not tbh I just want my dad's money back and to get out. I will have to see if I can make him see sense.

Thanks guys, you've all been a great help, given me a few ideas, I have a solicitors appointment on Monday, I will take all I've learned from here and see what he says.

You do not need to get your friend's permission to get an order for sale, you can do this in your own right: section 14, Trust of Land and Appointment of Trustees' Act 1996. it will be better though if you could reach an agreement to avoid the legal avenues and expensive costs for lawyers, court fees etc. No, you should only pay for your consumption, so gas, electricity, water, council tax if you're not in occupation (possession of the property) is non consumption. I meant you have to still pay the mortgage and make sure the property is maintained, housing insurance etc. Your dad could get a court order for a sale potentially if it was his money.

[wales01man]

Re: House share, one wants to sell and move on, the other doesn't.

Dad and court orders? gets more complex by the hour.
The dad would need to prove the loan and the purpose of it and if it was tied legally into the purchase
the way forward here MUST be to reach and agreement to sell or take the easiest and hopefully cheapest legal rout interesting to hear what the solicitor has to advise the OP to do

[Openlaw15]

Re: House share, one wants to sell and move on, the other doesn't.

Dad and court orders? gets more complex by the hour.
The dad would need to prove the loan and the purpose of it and if it was tied legally into the purchase
the way forward here MUST be to reach and agreement to sell or take the easiest and hopefully cheapest legal rout interesting to hear what the solicitor has to advise the OP to do

If the dad has purchased the property for the OP he only needs to get a Notice or Restriction entered on the property's land register so the world and his son are aware of his interest affecting the property. If the father were to have forked out a substantial amount it would not be difficult to prove. I believe the terminology is that the owners hold the property on trust so the father more than likely has beneficial interest. It does not get more complex...the situation is the same and always has been...if the friend digs their heels in Op's own ownership interest is benefitted by their parent's interest to favour a court order for sale.

[Newmodel]

Re: House share, one wants to sell and move on, the other doesn't.

We have a solicitors letter explaining about the loan and that its repayment is to be made to my dad upon sale of the house.

Only catch is, just to make this more interesting, my dad passed away 7 years ago.

[Openlaw15]

Re: House share, one wants to sell and move on, the other doesn't.

We have a solicitors letter explaining about the loan and that its repayment is to be made to my dad upon sale of the house.

Only catch is, just to make this more interesting, my dad passed away 7 years ago.

Sorry to hear about your dad. Well whomever was left the interest (beneficial interest) in his Will has the right to claim his (late father's) interest. It will come under the Successor rules.. which means any beneficiary he left loan monies to has the right to claim his interest after a sale.

[Newmodel]

Re: House share, one wants to sell and move on, the other doesn't.

Been to see a solicitor this morning, he has put me straight in what I cam and cant do, I can force him to sell and the fact that my dad invested money is even better, its on the house registry/deeds so as far as he is concerned, I'm home free.....excuse the pun ��Thanks for all of your help guys, much appreciated.

[Openlaw15]

Re: House share, one wants to sell and move on, the other doesn't.

Been to see a solicitor this morning, he has put me straight in what I cam and cant do, I can force him to sell and the fact that my dad invested money is even better, its on the house registry/deeds so as far as he is concerned, I'm home free.....excuse the pun ��Thanks for all of your help guys, much appreciated.

Just as I told you could.