My liabilities on a house willed to both of us.

Hi All - I have a bit of a follow up on this story and wanted to get some advice. Sister has ignored letter from solicitor and it now looks like I'll have to take her to court in order to get an order for the property to be sold. However, I've been aproached my someone familiar with the property who is willing to purchase my interest for a sum that I'm happy to accept. My question is, can I simply sell my half of the property to this person and let them deal however they see fit with my sister? Any advice would be welcomed. Thanks.
 
I'm involved in a shared ownership of a house it's been going on 15 years & is a nightmare - people moaning about costs/work to be done etc. It's generally left up to 1 person to do the basic maintenance & it's unfair, frustrating and annoying, but if it isn't done the house would fall to bits. If I had a chance I'd sell it & get rid, it costs a fortune just to keep the place heated (has to be done otherwise it'd get damp as it's an old house & nobody living in it permanently). If you can sell I'd advise do so & get rid! Relationships go down hill quickly when shared houses involved! Sorry I can't give advice but wish you the best of luck
 

I think you can sell your half to whoever you please.
 


You will have to ask your solicitor for more details on the ownership of the house.

There are different legal ways of jointly owning a house.
Here is a website that explains the differences. ( I am not involved in this website, I found it by googling, but it seems to explain the issues)
http://www.lawyer.ie/property/tenancies

If you are "joint tenants" , then you both jointly own the whole house, you dont own half of it to sell. (in the same way that if you and your spouse own a house, you cant sell your half to someone else).
 
Thanks very much for the replies guys. Would I not be correct in saying though that if my sister could buy out my share in the house ,(in other words I'd be selling my half to her)then I would be equally entitled to sell my share to another interested party?
 


No, it is not as simple as that.

You either own the house as joint tenants or tenants in common.

In either case, she can buy your share, as you are both agreeing to the deal,

If you own the house as joint tenants, you cannot sell your share without her legally agreeing to it. This is a complete simplification of the situation and I am not a lawyer, so you need to know what the ownership situation is and you need proper legal advice from a lawyer who has seen the deeds of the house,
 
Thanks so much for the replies, I really appreciate it.
Is there any logic to holding off pushing for a court order for sale?
Some friends have advised that no matter how long my sister remains in the house, I can get a court order for sale at any stage. They advised it may be more prudent to continue to pay NPPR charges and then if/should the property market pick up and/or I myself have real need for my share of the house then proceed with a court order for sale. As such, I'd be treating the property as an investment (albeit a risky one, given the situation) What would you guys think of that situation?
 
Hi Snowdrift,

Sorry to hear about your problems!

Organising a mortgage with your sister will lead IMO to all sorts of trouble, particularly if relations are not good to begin with. Also if she cannot secure a mortage now from a bank, what makes you think you'll ever get the full repayments for her? What happens if the euro collapses? What happens if interest rates rocket and your own mortgage repayments shoot up leaving her a handy low rate? To many complications for me.

As regards trying to play it cute and hold out for when property picks up in value - the phrase "A bird in the hand" comes to mind. I'd be taking the money and running. By all means re-invest in property if you wish, but then you get to decide what/where to buy and to whom you rent it to.

If your sister does come up with the readies to buy your half, then unless ye both get it right (unlikely) then one of you will lose out on the price agreed vs what the house would fetch on the open market. It sounds to me, based on your earlier posts, that you'd be happy with a lesser amount. This sounds OK until you realise that you are giving your sister money belonging to you. Should property prices fall further then be prepared for endless moaning about how you fleeced her. If prices rise, things will be quiet.

If your sister plays hardball and doesn't want to sell then I would advise her that you'll be moving into the house also (spend a few weekends in a row there and bring some mates).

I would also remind your sister that any legal fees would be settled from the proceeds and that in these times there are plenty solicitors looking for work

Finally, I would push selling the house as the only option if I were in your situation.

Firefly.
 
Thanks Firefly,

I'm afraid moving into the house with some friends at weekends is out of the question. I guess my real problem is going to court. I hate the thoughts that I have to drag the family name through the courts in order to have the house sold.
 

That would certainly be unfortunate, but I would imagine it would be more difficult for your sister as she is living there. Still, I suppose she could put a spin/slant on the story seeing as you're not there to defend yourself. If it were me though I would push on with the sale. Short term pain and all that.

I don't think anybody would find it unreasonable that you are only making sure you get what you have been left either.

Good luck!
F
 
Snowdrift said:
I'm afraid moving into the house with some friends at weekends is out of the question. I guess my real problem is going to court. I hate the thoughts that I have to drag the family name through the courts in order to have the house sold.
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I think this is the wrong way to view it. Do you want a solution, if yes be legit and go the legal route. No shame in this. In any case most people when they get a court date suddently wake up and settle. Until you do this it seems based on your posts that your sister will not treat you seriously.

I'm all for reasonable family compromises, including selling your half share for a bit less than it's value, but if that gets you no where then you have to be decisive.

If you don't want this resolved then what you proposed about holding onto it as an 'investment' sounds like an ideal protracted family battle. Which will end in blood sweat and tears and a family forever divided.
 
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