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Ask Clare Your Own Question
Clare
Clare, Solicitor
Category: Property Law
Satisfied Customers: 34235
Experience:  I have been a solicitor in High Street Practise since 1985 with a wide general experience.
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I bought a property with a friend with the intention of selling

Resolved Question:

I bought a property with a friend with the intention of selling it when it was renovated we both have 50 50 share of the property.he now says he won't let it be sold because he wants to rent my share of the property.l don't know what I can do about it.
Submitted: 1 year ago.
Category: Property Law
Expert:  Clare replied 1 year ago.
HIThank you for your question My name is ***** ***** do my best to help you but I need some further information first.Did you sign any agreements relating to what should happen to the property when you purchased it?
Customer: replied 1 year ago.
No agreement was signed only a verbal conversation ,my partner was present and since then other mutual friends also new the purpose of buying this property was to sell but as we've been renovating it my the other party has fallen in love with this property and said he was going to buy me out once it was finished since then weve had a valuation and he refuses to pay a below asking price so has now said he wants to rent it off me and I want to sell and he said he's refusing to sell the property then and i need to know we're i stand
Expert:  Clare replied 1 year ago.
How much is the property worth and how much is outstanding on the mortgage?
Customer: replied 1 year ago.
There is no mortgage on it ,it was bought outright 50-50,and it's worth £180,000
Expert:  Clare replied 1 year ago.
Which part of the Uk are you in?
Customer: replied 1 year ago.
Bury Manchester bl98pp
Expert:  Clare replied 1 year ago.
Thank youAs joint owners of a property you and your friend hold the property on a "trust for sale"If either of you wishes to bring that Trust to an end you are entitled to do so and the property must be sold.On that basis you can if necessary apply to the court for an Order for Sale and it WILL be granted.You will also be able to claim costs from him.I hope that this is of assistance - please ask if you need further detailsClare
Customer: replied 1 year ago.
Thank you
Expert:  Clare replied 1 year ago.
You are most welcome I hope all goes well
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