Joint Owner,
Other party left over 9 months ago and never returned.
Threatened Partition Proceedings at one stage.
Wants me to leave property for one day to collect belongings. No problem with that but I am worried that I might lose possession (not let me back in, call garda, etc)
Also in negative equity would court force sale under partition act, leaving one party without a place to live and in debt?
I agreed to sale (other party does not want this) but wishes either to "take over mortgage". Am I correct in assuming a completely new mortgage is needed to be taken by one person. (including loss of tracker + part payment of -ve equity + deposit & fees, etc?)
Or can one name simply be removed from mortgage and title as other party seems to think is possible?
In addition if partition proceedings go ahead how is -ve equity dealt with. i.e. if one party has paid more of mortgage re-payments are they seen as owning a larger interest in the property and there liable for more of the debt.
Is it wise to continue mortgage re-payments in such a case??
Thanks
Other party left over 9 months ago and never returned.
Threatened Partition Proceedings at one stage.
Wants me to leave property for one day to collect belongings. No problem with that but I am worried that I might lose possession (not let me back in, call garda, etc)
Also in negative equity would court force sale under partition act, leaving one party without a place to live and in debt?
I agreed to sale (other party does not want this) but wishes either to "take over mortgage". Am I correct in assuming a completely new mortgage is needed to be taken by one person. (including loss of tracker + part payment of -ve equity + deposit & fees, etc?)
Or can one name simply be removed from mortgage and title as other party seems to think is possible?
In addition if partition proceedings go ahead how is -ve equity dealt with. i.e. if one party has paid more of mortgage re-payments are they seen as owning a larger interest in the property and there liable for more of the debt.
Is it wise to continue mortgage re-payments in such a case??
Thanks