can i shared house be sold

[thefisherman021]

my freind mother died about 9 months ago and left the house to three brothers,so one of the brothers borrows £15000 from a freind on the strenght of the house,now the freind wants his £15000 back as hes waited 7 months for it,but the eldest brother who has the paperwork for the house as said there not selling it yet as house prices are going up,but his younger brother is begging him to sell and wont,and the younger brother is needing his share out of the house to pay his freind back of and well hes now considering sighning over his share of the house to the guy he owes £15000 to,can he do this?or can the younger brother force his older one to sell up?

[society]

The debit is between the friend and the younger brother. The eldest brother had nothing to do with acquiring the £15,000 which the younger brother did. The burden is on the younger brother to provide the money to pay his debt.

[buildersmate]

If he signs his share of the house over, he'd be even more of an idiot than borrowing the money using a third-share of a house he didn't yet have in the 1st place.
I suggest the lender will just have to tough it out.

[thefisherman021]

but the lender lent him the money out of the goodness of his heart and wants it back after 7 months wait.if the older brother put up the house which belongs to all 3 then the younger brother would be able to clear his debt before he gets a good hiding

[brenda]

Hard luck on the younger brother . This debt has nothing at all to do with the other 2 brothers.The younger brother cannot force the others to sell ,it is nowt to do with them.

[thefisherman021]

i no its nothing to do with them,but if the house was left to all 3,then maybe his older brother should consider on putting it up for sale like the 2 younger brothers want,but the older brother doesent want to yet,as seems to think the houseing market is going up,has he no thought for the 2 younger brothers who are skint,or should he be able to hold the house because hes the older brother,no he shouldent in my opinion hes taking the Fosters and wants all the money to himself,

[Nosha123]

how can he want all the money to himself - when he clearly owns one third???

Also - the housing market IS going up??? Unless you seem to know otherwise!!!

Seems little brother was a bit bloody daft to be borrowing money on the strength of a property that wasnt his at the time - and the lender was even more silly to lend it!

Maybe he'll learn his lesson now!

Inheriting a property between 3 brothers is never going to be easy to agree on what to do - and selling it also will take time.... as property always does!

Silly billy

[thefisherman021]

how can he want all the money to himself - when he clearly owns one third??? you tell me

the houseing market is going up slightly only as estate agents have said,houses on his row go for about 90.000 he seems already to think he going to get 150.000 for some pathetic reason

his brother was daft lending money as for the lender he will get it one way or another,and thats what im dreading as hes a good mate,and well the lender is one of those heavy ones where he will go through all his family till he gets his pounds back

the brothers decided 7 month ago to sell the house,but big brother been lyeing to them and never even put it on market when he told them he did,now to me that sounds like big brother is pulling some of his own strings for himself

[ChuckFickens]

Hold up, houses on that row go for £90, so he took a loan out for £150k against one third of 90k? so where's he planning to find the other £120k even if the house does sell?

[bednobs]

has the brother tried explaining the situation to the older brother?
however, i have to agree - even if he put the house on the market today, and recieved an offer tonight he would still have to wait at least 3 months for the money (probably). However, recieving an offer is far from certain - the house could be on the market for a year or more, so it wouldn't help would it?

[bednobs]

fifteen thousand, chuck

[grasscarp]

Chuck he borrowed £15,000 not £150,000. Read the first post again.

[ChuckFickens]

Opps, sorry, misread that, carry on as you were :)

[thefisherman021]

well i dont no what to suggest as i feel for him,his big brother wont sell and its his house to,so he needs to find a legal way to be able to make his brother sell his bit of the house,there must be some kind of legal way he can go about it

[tamborine]

The sale can be enforced through your local Court. Lil-bruv should start legal proceedings (DIY) by booking the case in Court.

[thefisherman021]

cheers m8 ill tell him

[Nosha123]

Your post above states " he wants all the money to himself".... Well clearly he can't can he!!! As he only owns one third of the house!
As for selling the house... In today's climate it could easily take 6 months to find someone and to process the papers. The loan is not about to get paid off quickly and in my mind the borrower shouldn't have borrowed the money!!! He was banking on tha sale to repay the loan! Very foolish!

[thefisherman021]

if my post stated he wants all the money to himself it was wrote wrong,as all he wants is his cut,and it sounds like to me the older brother wants all the money,the guy who lent him the money is fuming as nothing is on market,if he got house on market he will be more chilled and knowing somethings being done where at moment he feels as nothings been done in the 7 month,which i think i would in the same position,if his brother does not put it on the market hes going to have to deal with the guy himself somewhere along the line when his younger brother gives him the share of his house,then big brother has a problem,and all for not listening to his younger brother

[Nosha123]

THATS MY POINT EXACTLY!!! Jees


You state "it sounds like to me the older brother wants all the money"

and I respond - WELL HE CANT HAVE ALL THE MONEY AS HE ONLY OWNS ONE THIRD!!!

I give up!!

[thefisherman021]

lol sorry bud,it does sound like that to me too,and hes going to end up getting sorted out for trying to rip his own family of,as money lender wants his address now

[dzug2]

Doesn't have to go on the market. He can ask the other brothers to buy him out at an agreed valuation - and ultimately force that buying out through the courts.

But neither will be a quick process.

Meanwhile the moneylender can put a charge on the house so it can't be sold.......