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Remus2004
Remus2004, Barrister
Category: Property Law
Satisfied Customers: 2447
Experience:  Over 5 years in practice.
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I am looking expert in dispute resolution and/or civil

Customer Question

I am looking for an expert in dispute resolution and/or civil litigation.
Hi. I co-own a property (jointly and severally responsible for the mortgage) with somebody who now wishes to sell.
He owes me a sum in the low hundreds for monthly bill payments, which he does not dispute. However, he has decided to "offset" this amount against future proceeds from the sale of our furniture (which, to me at least, we own 50/50 since paid those proportions. He may hold a different view, but he has not expanded on this).
This seems to me very unfair, so by the same "set off" principle I have now withheld my share of the monthly mortgage to him (he pays the bank) for the same amount that he owes me.
He has now threatened the following: "To be clear, I will continue to meet our mortgage obligation to the bank until the flat is sold. However, once the default date passes, I will advise the bank that you are no longer paying your share and, therefore, an immediate sale is required to redeem the mortgage. You will be in breach of the trust deed, such that immediate sale can take place, either by me or due simply due to bank repossession (though the latter will very likely fetch a lower sale price). I will then take my share of the funds and buy a new place."
We do have a trust deed in which we covenant to both keep up our respective share of the mortgage. From my perspective, however, if he is allowed to invoke "set off," then by the same token I can say that he currently holds my share of the mortgage in the debt that he owes me (i.e. I wouldn't be in breach of the trust deed).
Please advise on whether what he suggests is at all feasible (for which I would, presumably, need to be in breach of the trust deed).
Submitted: 2 years ago.
Category: Property Law
Expert:  Clare replied 2 years ago.
Hi
Thank you for your question
My name is Clare
I shall do my best to help you but I need some further information first
How much is the house worth and how much is outstanding on the mortgage?
Who actually lives there?
XClare