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Clare
Clare, Solicitor
Category: Law
Satisfied Customers: 33953
Experience:  I have been a solicitor in High Street Practice since 1985 with a wide general experience.
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, Having to sell land/FMH as I have been unable to adhere

Resolved Question:

Hi, Having to sell land/FMH as I have been unable to adhere to the terms of the FDR consent order. My ex. is trying to sell to his brother and we already have a mutual offer from someone else. He's pushing the price up to ensure his brother and he both benefit financially. Is he allowed to sell to his brother or is this considered a conflict of interest and bias in favour of him?
Submitted: 2 years ago.
Category: Law
Expert:  Clare replied 2 years ago.
Hi
Thank you for your question.
My name is Clare
I will do my best to help you but I need some further information first.
Who has offered the highest price?
Clare
Customer: replied 2 years ago.

His brother so far, but each time the independent developer offers more my ex. is getting his brother to up the anti. I have it in writing from him that he would let the developer have the plot of land if he adhered to the original plan and he did. My ex's brother also wants to pay the money as a "loan" so he doesn't have to pay any tax!!

I await your response

Jacquie

Expert:  Clare replied 2 years ago.
Hi
Who receives the money?
Clare
Customer: replied 2 years ago.

I get 73% and he gets 27%. The plot of land and the FMH have been valued at between £500k & £550k so even at the top estimate and I stress ESTIMATE he is only entitles to £148,500 and I'm saying he can have £110K now and I pay off the joint mortgage. This will leave me in the FMH with no mortgage and when I sell when my youngest child finished secondary education I'll put the house on the market and he can have what's owing, which will be approximately £38,500.

Await your response.

Expert:  Clare replied 2 years ago.
Hi
But you will receive more if you sell to his brother?
Clare
Customer: replied 2 years ago.

Sorry if this comes across as being rude, but why does everyone think it's got to be about the money???

I wont a clean break I don't want him, or any member of his family living next door to me!!

Expert:  Clare replied 2 years ago.
Hi
I am sorry - the court system can seem money focussed - mainly because it is.
Have there been issues with domestic violence involving his family
Clare
Customer: replied 2 years ago.

He's more subtle than that - Lot's of threats but no physical violence.

I am I to understand that

1) The courts will allow his brother to buy the land, even though they will make even more money off the final sale and I won't see a penny of that? Or can I put a Claw Back Clause into any final agreement?

2) As I have the majority share is my ex. able to force me to sell?

Expert:  Clare replied 2 years ago.
Hi
Will the other potential purchaser agree to such a clause?
Clare
Customer: replied 2 years ago.

I feel sure if I asked him the answer would be yes, but he wants the land to build a home for him, his wife and their 2 children. He was born and raise a stone's throw from here. He grow up playing football in my garden. His parents and his sister and her family live on the next Lane down in my village.

The house I live in was built by his father 30 years ago and the 2 storey extension that was built 10 years ago was built by him.

So as I keep saying, it's not about the money. It's about family values and security.

Expert:  Clare replied 2 years ago.
Hi
The Court would see it as reasonable that the best return is received for the property - by which is meant the highest price.
It is not see as any kind of conflict that the purchaser is his brother
You have two possible options.
Ask both purchasers to sign a "Claw back Clause" - or agree with your ex that he can have a larger share of the equity if he agrees to the sale to the other person
I am sorry not to give better news - please ask if you need further assistance
Clare
Clare, Solicitor
Category: Law
Satisfied Customers: 33953
Experience: I have been a solicitor in High Street Practice since 1985 with a wide general experience.
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