Donate SIGN UP

Sale of 50% Share of House

Avatar Image
office123 | 21:05 Thu 02nd Feb 2006 | Business & Finance
5 Answers

I own a house 50/50 with someone else. The house is paid for - there is no mortgage. I have never lived at the house and the other person rents it out and keeps the rental income (I have agreed to this). I am no longer on speaking terms with the person who I own the house with and I wish to sell my half. The other person is not in a position to buy me out as they do not have any income other than the rental income. Is there anything stopping me selling my 'half' of the house to someone else?

Gravatar

Answers

1 to 5 of 5rss feed

Best Answer

No best answer has yet been selected by office123. Once a best answer has been selected, it will be shown here.

For more on marking an answer as the "Best Answer", please visit our FAQ.
Are you joint tenants or tenants in common ???
I think there is; it used to be possible to "force" a sale on the co-owner but this is no longer possible. Now you need to convince the court that it is a good idea to make an order that the house should be sold.

If you are joint tenants then you do not own 'half' the house .... you both own all of the house, that makes things a little different.

Question Author
We are tennants in common - does this make a difference?
I am fighting for the same - I am having to take them to court. Been informed by more than one solicitor that I win the right to force the sale by default. Though the value and circumstances can change the financial split and time that the defendant has to sell. The costs are estimated at �8,000 with �2,000 to me. My ex is totaly illogical and in a dangerous financial position because the court can demand up to �1500 per day in cash for costs. In my case I am still on the mortgage and liable for it and I am prevented from buying elsewhere. At present my ex has all the financial gains.

1 to 5 of 5rss feed

Do you know the answer?

Sale of 50% Share of House

Answer Question >>