Property Dispute With Joint Venture Partner

[legal101]

Hi All

2010 entered into JV with property investor, I sourced property deal (adverts etc) and he paid legals, he on deeds me placed rx1 land registry and restriction.

I moved in to property at agreed rent after previous tenants left with unpaid £4,000 rent. He wanted x amount written in Tennancy agreement to use to show rental income to Mortgage companes to refinance his other BTL properties.

JV partner decides to retire 2015 and we cannot agree price to sell he wants "reasonable" price written in agreement I want the price valuation by 2 Estate Agents written in agreement to sell.

JV Partner has not been paying mortgage and I have had letter from Mortgage Company Receivers property is being repossessed.

He has issued a County Court Claim against me for £20,000 unpaid rent (the difference between the verbal agreement rent and the rent amount written in the tenancy agreement).

Any advice on defending and counter claiming for the lost profits of £20,000 ( the difference between the mortgage owed and the valuation price by 2 Estate Agents ), appreciated.

If the property had been sold the net profit would be £20,000 my share,as JV partner has retired and he has not paid mortgage the Receivers are now in control of the sale of the property.

Unlawful eviction took place as I returned to property and locks changed, I showed Tenancy Agreement to police who then left ( neighbours saw locksmith drilling and called police), I have police report of incident and Solicitors letter as I contacted them for advice.

I have to ammend my defence and counter claim £255 N224 fee, just received the police report, and the repossession letter from Receiver about collecting the rent.

Thanks

[Crazy council]

Re: Property Dispute With Joint Venture Partner

hi

Do you have an agreement with the other person, if so, can you post it with the personal detail retracted, same witht eh tenacy contract on the property.

He has issued a County Court Claim against me for £20,000 unpaid rent (the difference between the verbal agreement rent and the rent amount written in the tenancy agreement).

Full detail needed on the above

and the repossession letter from Receiver about collecting the rent

copy of that as well if possible

[legal101]

Re: Property Dispute With Joint Venture Partner

Thanks will do asap, i have an email from JV partner i sent to court as defence " nothing is binding in the tenancy agreement"

[Openlaw15]

Re: Property Dispute With Joint Venture Partner

Hi All

2010 entered into JV with property investor, I sourced property deal (adverts etc) and he paid legals, he on deeds me placed rx1 land registry and restriction.

I moved in to property at agreed rent after previous tenants left with unpaid £4,000 rent. He wanted x amount written in Tennancy agreement to use to show rental income to Mortgage companes to refinance his other BTL properties.

JV partner decides to retire 2015 and we cannot agree price to sell he wants "reasonable" price written in agreement I want the price valuation by 2 Estate Agents written in agreement to sell.

JV Partner has not been paying mortgage and I have had letter from Mortgage Company Receivers property is being repossessed.

He has issued a County Court Claim against me for £20,000 unpaid rent (the difference between the verbal agreement rent and the rent amount written in the tenancy agreement).

Any advice on defending and counter claiming for the lost profits of £20,000 ( the difference between the mortgage owed and the valuation price by 2 Estate Agents ), appreciated.

If the property had been sold the net profit would be £20,000 my share,as JV partner has retired and he has not paid mortgage the Receivers are now in control of the sale of the property.

Unlawful eviction took place as I returned to property and locks changed, I showed Tenancy Agreement to police who then left ( neighbours saw locksmith drilling and called police), I have police report of incident and Solicitors letter as I contacted them for advice.

I have to ammend my defence and counter claim £255 N224 fee, just received the police report, and the repossession letter from Receiver about collecting the rent.

Thanks

I am not certain whether you're a business tenant or a domestic tenant. I provide the following on the basis you're a domestic tenant. If you're a business tenant the law is more complex in that it may not be illegal for the other person to change the locks. Secured tenancy protection also I believe only applies to domestic tenancies.

The mortgagee (person who supplied the mortgage) has a duty to get the best price for the property (ie market value), or they could be liable for any losses. You had a tenancy agreement which means it is a legal right to use the other person's land, to be protected for however long the joint tenancy lasts. It means that no one can force you out of the tenancy. You put a restriction on the land register which means any persons interested in the land would have been aware of your interest in the property. So it is likely intentional eviction as the person likely knew it was an illegal eviction. Only a business tenant can be evicted by a landlord for example who changes the locks; the law has changed relatively recently where domestic tenants cannot be forcefully evicted. Other laws protect the tenants paying rent, called 'secure tenancies.' It is also a criminal act to evict someone illegally under sections 1-3, Criminal Law Act 1977.

[Crazy council]

Re: Property Dispute With Joint Venture Partner

wrong thread sorry

[legal101]

Re: Property Dispute With Joint Venture Partner

I am not certain whether you're a business tenant or a domestic tenant. I provide the following on the basis you're a domestic tenant. If you're a business tenant the law is more complex in that it may not be illegal for the other person to change the locks. Secured tenancy protection also I believe only applies to domestic tenancies.

The mortgagee (person who supplied the mortgage) has a duty to get the best price for the property (ie market value), or they could be liable for any losses. You had a tenancy agreement which means it is a legal right to use the other person's land, to be protected for however long the joint tenancy lasts. It means that no one can force you out of the tenancy. You put a restriction on the land register which means any persons interested in the land would have been aware of your interest in the property. So it is likely intentional eviction as the person likely knew it was an illegal eviction. Only a business tenant can be evicted by a landlord for example who changes the locks; the law has changed relatively recently where domestic tenants cannot be forcefully evicted. Other laws protect the tenants paying rent, called 'secure tenancies.' It is also a criminal act to evict someone illegally under sections 1-3, Criminal Law Act 1977.

Hi

tenant agreement attached soon.

Receivers appointed.

I as tenant house not commercial building not heard anything , as btl is commericial mortgage tenant ME will not get any letters from lender they just turn up and repossess?

i have moved out.

how do i protect my share of profits, how do i force JV partner to give me 50% OF PROFIT WHEN HE GETS WHATS LEFT AFTER PROPERTY SOLD BY RECEIVERS?

how do i know when property sold, should i then issue statutory demand to JV partner for monies?

thanks

[Openlaw15]

Re: Property Dispute With Joint Venture Partner

Hi

tenant agreement attached soon.

Receivers appointed.

I as tenant house not commercial building not heard anything , as btl is commericial mortgage tenant ME will not get any letters from lender they just turn up and repossess?

i have moved out.

how do i protect my share of profits, how do i force JV partner to give me 50% OF PROFIT WHEN HE GETS WHATS LEFT AFTER PROPERTY SOLD BY RECEIVERS?

how do i know when property sold, should i then issue statutory demand to JV partner for monies?

thanks

Hello legal101

A detailed timeline would be useful.

You say you had a JV, is this a joint venture, ie a joint business? You're not explaining how this joint venture for investment purposes is related to you living in property as though a tenant. Is this a different property you're renting. It sounds like to me that your tenancy is commercial as you're just not making things clear. If you're a commercial tenant, the landlord has the right to change the locks under an ancient but still existing law. What did the police actually say, was the landlord charged with a criminal offence for changing the locks? The mortgagee's receivers have the same power as the mortgagee (usually banks), as they're appointed by the mortgagee.

Please provide some details about the alleged claimant's £20,000 loses. What was the verbal agreement and what was actually stated word for word.

[legal101]

Re: Property Dispute With Joint Venture Partner

Hi

JV business with rx1 restriction placed by me at land registry. Its a BTL mortgage, th elender has repossessed the property and Estate Agent has received offer ( for sale board only been up 2 weeks so friends or property investors getting a low ball deal with kick back to EA ).

The "offer" is £25,000 less than 2 independent estate agent written valuations i obtained last month.

The mortgage company have duty to sell the property at the best price, but Estate Agent 2 weeks at marketing and place ad on their website saying offer received for £x anyone wanting to offer more write to EA before exchange of contracts.

Looks lik emy investment of £7,500 for marketing etc to help buy property several years ago is going to turn into zero profit as property is being sold for what it was bought for by myself and JV partner (he alone on mortgage).

We could not agree price to sell property for so he retired and stopped paying mortgage after i gave him the payments.

Anything i can do to get mortgage company to actually sell the property for near market value and they to instruct EA to do so? then i could get £1ok roughly or m i wasting my time ?

Thanks