Quick bit of advice - Legal crap

Charltonparklane

Try and shorten it with the facts.

Mother in law bought house with Boyfriend
She put in £100k Deposit, him nothing.
Written in agreement She owns 75% him 25%
They've now split and hes demanding she sells and wants 25% of the house.
The have both been paying mortgage for 7 years.

Should she get her £100k deposit and then give him 25% or should he get the full 25% from the sale.

Cheers.

MattTeesHeader

What does the agreement say? Does it mention the mortgage? If not the strict interpretation would probably be he is entitled to 25% of the sale proceeds.

stonemuse

Agree, the wording of the written agreement will be key to this.

LenGlover

Is there no clause in the agreement specifically mentioning the deposit and prior repayment of that before distributing any equity once the mortgage has been repaid?

If not then I'd say they have to repay the mortgage and then split any surplus 75:25.

Read the agreement!

DaveMehmet

More importantly, make sure there's no clause which states she comes to live with you as a result.

Charltonparklane

Thanks for replies I will find this out.

The issue is She doesn't want to move and hes forcing her to sell, however because of her age shes being refused a new mortgage to buy a new place.

Shes tried to get a loan to pay him off but cant get that either.

I will find out more facts when I can

Cheers all.

cafcfan

She should see a lawyer. But if she does end up having to pay him off, maybe an equity release scheme would free up the capital and allow her to stay put?

Dippenhall

Presumably there was no equity from day one so if property sold on day two she was giving away £25k of her £100k. Not a sensible arrangement to start with. Probably the flaw has only been realised on looking at effect of sale. Unless there is some other agreement can't see what grounds there are for claiming the money she agreed to give away on day one.

Daggs

Dunno. But if it were Father in law living with girlfriend. She would get everything and you would get Father in law .........................

brogib

Go no comment

iainment

I don't think she can be forced to sell her primary residence. But get proper advice from good housing/matrimonial lawyer.
Or tell him to F off and let the court decide

golfaddick

As long as she has only to give him 25% of the value of the house then once its been valued can she not remortgage the property & raise the capital that way ? Someone else mentioned equity release - that could be an option but generally you have to be aged over 60 for that type of scheme (there are a few at age 55) but also means a roll up of the interest & if she is still young that could mean wiping out most of the equity if she lives past 80.

need more info really....

rikofold

Get. Legal. Advice.

I think it will be relevant who's name the mortgage is in. That agreement may also be unenforceable, it may not specifically mention what happens if you split up, and it might not necessarily be to MIL's advantage. Part ownership doesn't necessarily mean he can force the other party to sell just because he wants to liquidise, either, and his position will be weaker as they weren't married. But a solicitor needs to hear the circumstances and scrutinise the agreement. Sooner than later.

Charltonparklane

I will get more info but let's say the circumstances for the split was he was a heavy heavy drinker and was going slightly mad believing a gang of kids were taunting him all day at work (20mile away) and at home through the night, sslept with an axe, went out through the night looking for them and also constantly thought they were following him in his car.
We tried to get him to get professional help but he didn't see any problems his end, he then moved out as he couldn't face the group of teenagers waking him up all night (which there wasn't any)

She then got to the stage where she wouldn't take him back without professional help ttried but he wouldn't.

Now, next calls and texts she gets is him threatening her that he wants his25%.

It's a shame as he was a lovely fella, only 45.

Like I sam, I'll try get more of the written facts later.

3blokes

If that is what has been going on then that puts quite a different perspective on this matter in my view.
He sounds pretty unstable and potentially dangerous from what sounds like bouts of paranoia.
Threats and intimidation need some police advice I would suggest as well as some legal input.
Hope it all works out ok .

Charltonparklane

Cheers bud, MIL has only recently found out that he had history of paranoid schizophrenia in theffamily and he has suffered similar symptoms years and years ago.

AFKABartram

Loose cannon with tragic potential. Not for casual advice on a football board pal, get proper professional advice, and quickly I'd suggest.