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Clare
Clare, Solicitor
Category: Law
Satisfied Customers: 34272
Experience:  I have been a solicitor in High Street Practice since 1985 with a wide general experience.
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As I haven't had a response to my question yet I am adding

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As I haven't had a response to my question yet I am adding another one as time is tight for me and I need to respond. Referring to my previous threads. My ex partner has agreed to my selling the property to buy a smaller one. He has stipulated that his name be on the deeds of the new property until we can agree on his percentage and in the absence of an agreement on his percentage redeemable in two years time, he wants it to say that he is entitled to 50%. I am very uneasy about this because he is not entitled to 50%. Can we have a charge that states that we are in negotiation over the percentage. Also my terms are the original 18.44% that we agreed minus the £9,000 that he should have paid in insurance and service charges. I am decided on this and do not see that mediation would be of any use to me. He is not happy with my terms and so is pushing me to go to mediation. I can't afford mediation and I am not going to change my terms. Where does this leave me?
Submitted: 2 years ago.
Category: Law
Expert:  Clare replied 2 years ago.
Hi
Thank you for your question.
I am sorry but if you hold out for that you will lose.
You have been living in the property and he has not so the Service Charge was your responsibility and not his.
There cannot be a charge that does not specify the actual percentage that he will receive
Given that you are the one who wants to sell the property sadly you are the one who is under pressure to negotiate - not your ex.
Clare
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Customer: replied 2 years ago.

HI Clare. Thank you. But can a charge be applied after the purchase has happened once the percentage is agreed and if so in the absence of an agreement can he demand that his name is ***** ***** deed as holding 50% of the equity? If this turns out to be the only way to go ahead is it reversable once an agreement is in place/how can I protect myself?. Thank you.

Customer: replied 2 years ago.

Hello, I trhink I still have three questions? Please respond to the last question. Apologies if you are already in the process of doing this, the whole situation is stressful. thanks

Customer: replied 2 years ago.

HI Clare. Thank you. But can a charge be applied after the purchase has happened once the percentage is agreed and if so in the absence of an agreement can he demand that his name is ***** ***** deed as holding 50% of the equity? If this turns out to be the only way to go ahead is it reversable once an agreement is in place/how can I protect myself?. Thank you.

Expert:  Clare replied 2 years ago.
Hi
My apologies I have been unwell
I am afraid that you are going to have to commit yourself to one option or the other.
Your ex is entitled to want his position protected and to withhold his agreement to the sale unless this is resolved.
You could potentially purchase the property in joint names with a written agreement that the exact percentages will be agreed at a later date - but that increases the risk that it will eventually be 50/50.
Alternatively once you reach agreement you can then agree to the house being transferred into your sole name and there being a Charge on the property in his favour.
All of this will be complicated especially if there is a mortgage involved - and the costs will be high
Clare
Customer: replied 2 years ago.

Hi sorry to hear that you've been unwell.No there is not a mortgage involved. Can you explain how this will be complicated and costly. The flat I am selling is in our joint names. Say we transfer my ex's name to the new property with a written agreement attached re percentages to be decided. We will then continue the negotiation and it may go to court.; I have made it clear that I am sticking with the 18.44 % of the current market value, so surely any legal costs will be predominantly his, as he wishes to contest this on the basis that he has had to wait for his share of the equity. His share is not redeemable until our son is 18 in two years time anyway and he accepts this and says he will be content to allow the transfer of property on the proviso that his name is ***** ***** deeds of the new property. If it is possible to do this with a written agreement to continue the process of deciding his percentage I think this will be okay for the time being. Can you be more specific about your reservations. Many thanks, ***** ***** you are feeling better now. Caroline