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tdlawyer
tdlawyer, Lawyer
Category: Law
Satisfied Customers: 1096
Experience:  11 years experience of general practice.
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my son and his girlfriend bought a property together in September

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my son and his girlfriend bought a property together in September 2013. the £35000 deposit was paid by my wife and myself. The only equity his girlfriend put into the house was to pay the solicitors fees. the rest of the purchase was financed by the sale of his previous house which was in his own name. He split with his girlfriend 3 weeks ago. moved out and tried to negotiate an amicable solution for the sale of the property. He offered her 1000.00 for her to remove her name from the deeds. She stated she required 6000.00 to sign over. He has since offered her 2500.00 but she now wants 4000.00 but he pays all costs relating removing her name. I have 2 questions ! how safe is my 35000 ( I do have a document stating the money will be returned on sale of property) 2 What can my son do as she is being totally unreasonable
Submitted: 3 years ago.
Category: Law
Expert:  tdlawyer replied 3 years ago.

tdlawyer :

Hello, welcome to the website. My name isXXXXX can assist you with this.

tdlawyer :

Were you loaning the £35,000 to your son and his girlfriend? Or were you buying into the property with them?

tdlawyer :

Did they both sign the agreement recognising it would be paid back to you?

Customer:

loaning

Customer:

both signed agreement

tdlawyer :

Okay. Did you get security over the property for the loan, by a fixed charge?

Customer:

no

tdlawyer :

Okay. Is there enough enquiry in the house to pay you back the £35k?

Customer:

Yes

tdlawyer :

Okay. Then in reality, you're dependant upon your son and/or his ex- girlfriend agreeing to repay you from the proceeds of sale. If one or both refuse, then you may need to issue court proceedings to get your money back.

tdlawyer :

If she refused, for example, then you could issue proceedings against her to for you to get a court order in your favour, and then get an order requiring the money paid to the solicitors on the sale be paid over to you to pay back your £35k. Of course, this would slow everything down, but it's possible to do this in such a way that you would be protected, but you do need to go through the courts to achieve it.

Customer:

how does my son get her to sell

tdlawyer :

If she refuses, then he would have to issue a claim in the county court for an order for sale under the Trusts of Land and Appointment of Trustees Act 1996. Ideally, he should use a solicitor and I expect in reality she will quickly agree to avoid the costs etc. of resisting, when it's likely to be pointless to resist.

Customer:

how long does it normally take

Customer:

and what roughly are costs

tdlawyer :

To get an order for sale: about 3 months or so.

tdlawyer :

Costs are roughly about £5,000 to £8,000 or so to a final hearing, with lawyers, but it really does depend how it is contested, for how long, what issues are raised, the hourly rates of solicitors dealing etc. etc. There are a lot of variables.

Customer:

I think the best way is to pay her 4000 then

tdlawyer :

Maybe, and she will probably know that, but there is nothing wrong in threatening a letter from a solicitor.

tdlawyer :

Also, you need to make sure that if you pay her the £4,000, then you do it as part of the final settlement of monies once the house has been sold. Otherwise, you might find yourself held to ransom in respect of the £35,000 at a later stage. You want it all settled then she gets her money - if you choose to pay her.

tdlawyer :

The conveyancing solicitors can put such an agreement into place if needs be for you.

Customer:

thanks very much for your assistance

tdlawyer, Lawyer
Category: Law
Satisfied Customers: 1096
Experience: 11 years experience of general practice.
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