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Joshua
Joshua, Lawyer
Category: Law
Satisfied Customers: 25458
Experience:  LL.B (Hons), Higher Prof. Dip. Law & Practice
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If I could get my brother to agree to selling his share to

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If I could get my brother to agree to selling his share to me for £1 . The house would be in my name. I would sign an agreement to fix up the house at my expence and give him half the money after the sale or half the market retail value. There would be a time limit to fix house. He would also agree to not live there, or ever come back, or have any rights overs or claim the house or anything else except to have half the money of the sale (or market value) after the time period. Also how ever I have fixed the house, he excepts it. Would this be an idea that would work ? Do I need to specify anything else to make it work ? I don't want it in litigation.

Submitted: 2 years ago.
Category: Law
Expert:  Joshua replied 2 years ago.
That could be an option if he would agree. The agreement in this respect would have to be carefuly drafted to prevent potential claims in the future. You may need a solicitor to assist you with the drafting of the agreement if he were agreeable to the proposal. If he is prepared to transfer the house to you there is no way he could come back to live in it in any event because it would belong to you. also, I would question whether he should receive half of any eventual sale because you would have spent your own money not to mention time on improving the property. I cannot see why he should be entitled to any of this improvement value but if you consider allowing him to share in the improvement value, it may be prudent to offer him a percentage of the improved value rather than the entire improve value of his half share. that would be a matter for negotiation
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