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Hello, welcome to the website. My name isXXXXX can assist you with this.
Were you loaning the £35,000 to your son and his girlfriend? Or were you buying into the property with them?
Did they both sign the agreement recognising it would be paid back to you?
both signed agreement
Okay. Did you get security over the property for the loan, by a fixed charge?
Okay. Is there enough enquiry in the house to pay you back the £35k?
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.
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.
how does my son get her to sell
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.
how long does it normally take
and what roughly are costs
To get an order for sale: about 3 months or so.
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.
I think the best way is to pay her 4000 then
Maybe, and she will probably know that, but there is nothing wrong in threatening a letter from a solicitor.
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.
The conveyancing solicitors can put such an agreement into place if needs be for you.
thanks very much for your assistance