Family Dilemma

[Caribeing]

Father and son buy a house, work on it and sell it for a profit! They verbally agreed to share the money 50 50 but father wants a quarter more than agreed,says his son didn't work hard enough etc.
naturally the son is upset about this but the father is adamant with his decision and won't compromise! What is the legal situation!! Causing a lot of family friction!!

[Barmaid]

How is the property owned legally? By father and son jointly?

The starting point is that the legal ownership (ie who is on the deeds or registered at the land registry) should be reflected in the beneficial (ie the true) ownership. It is for the person alleging something different to the legal ownership to prove it. So if father and son are jointly on the deeds, dad is going to have a bit of an uphill stuggle.

What was agreed between them as to what work would be done? What actually happened?

[mandimoo]

in addition to that, they made their contract together, that each would get 50 / 50. did they specify how hard one would have to work for 50%? probably not. and so i would say that father hasnt really got a right to say he's changing his mind now. im not saying i think father or son is in the right and my understanding is a verbal agreement is supposedly legally binding so he should have to cough up.

[Teleph0ne]

If the house has sold and the father got the money then the son will have to take legal action which meand that the only person likely to profit from this deal will be solicitors! if the house is jointly owned then the money would automatically split 50/50 between them or however the the property is owned. A solicitor will not pay out the proceeds of a sale to a sole party on a jointly owned property without permision from both parties

[Suetheramble]

Did father mention his thoughts at the time he thought his son was not pulling his weight? If he didnt it seems unfair to move the goalposts when son can not rectify the situation.

[whitelady]

If the house is in joint names when it is sold the solicitor will take his fee and send out 2 cheques for the same amount representing the balance divided by 2.

[Tim123]

You can analyse the legal position to the Nth degree, but it won't settle the family friction.

Bang some heads together.