Ask a Law Question, Get an Answer ASAP!
In current state £675,000, there is £120,000 mortgage approx. Another property in wife's name only of £350000, 35,000 approx. oweing on that one, but her sister has an agreed share of 30% in it but there is no written docuementation this was a verbal agreement between the sisters the sister is not named ,on the property. Wife works full time night duty,earning possibly £42,000 husband has debts from his business which has never made money and he has now stopped paying the mortgage, he has no income at present he is now looking for a job so he states.
When the house was 1st bought it was to be in join names but because the sister had another property it was decided to put the house in her (wife) name only the sister lived in the property for 2years paying half the mortgage. The wife then had use of the entire property for whjich the sister did not calim half rent it was agreed that 30% of the house would be given to the sister when the wife decided to sell the share would pass to the sisters only daughter if the sister died before the house was sold.
There has been no income from the house as the wife did not rent it out it went into dis repair for some years and then she asked her nephew to live in it and do it up which he did and it was rented for 1100 in October 2013 the monies are paid into a joint account which the wife has agreed to give the sister her half share of the rent. Now that divorce has been issued the sister has no legal documentation to prove her share. The wife still wants to give her the agreed 30% but the husband wants his half share.