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Hello and thank you for your question. I will be very pleased to assist you. I'm a practicing lawyer in England with over 10 years experience.
Is this a shared ownership property please with a housing association?
Thanks - from what you say you are jointly named on the shared ownership lease?
thank you. Normally, the housing association will not purchase your share back themselves. normally the procedure is that if you decide you wish to sell the property, you must notify the housing association and allow them a short period of time in order to find a replacement buyer based on an agreed valuation figure for the property
if they can find a replacement buyer at the agreed valuation price the sale proceeds to the by. If they are not able to locate a buyer then you have a right to market the property on the open market through estate agents for example.
if you wish to sell the property, your partner cannot prevent you from doing though you will both need to sign transfer documentation and accordingly, if she is not willing to sign, ultimately, you may have to make an application to the County court for an order for sale under the trusts of land and appointment of Trustees act. Hopefully this would not be necessary
accordingly, if it is your intention to sell, the first step is to contact the housing association to you pay rent under the shared ownership lease and notify them of your wish. As above, they will normally agree a valuation figure for the property with you and then seek a new buyer on your behalf. If no buyer can be found, it is then a case of marketing the property in the usual way on the open market
Although you have moved out of the property, unless your partner has obtained a court order to exclude you from the property which I do not think is the case from what you say, you do have a right to move back until the property is sold.
can i put an offer to my partner to buy me out.
if i put an offer towards my ex to buy me out. i would i come up with a reasonable figure, without being taken for a ride.
it is possible for your partner to buy out your share from you. You will still need to contact the housing association - most shared ownership properties have restrictions on who is eligible to buy but that should be no restrictions preventing sole ownership of the property usually. your mortgage lender will also need to agree to remove you from the mortgage and so you will need to contact the lender as well - they will not agree unless they consider that your partner's income sufficient on her own in order to cover mortgage payments. Providing there are no difficulties on either front, you can negotiate between you and if you are happy with a figure, you can agree to sell your share to her.
if you cannot agree figure, or the lender refuses to release you from the mortgage to lend your partner on her own, then your partner will not be able to buy out your share and you will have to consider selling to a third party as discussed above
so if the figure isn't able to be considered, then selling would be the right way to go. can my exes family get involved with that part by giving her money. i am worried that i will be forced to take what they feel is right,if push came to shove and i have a friend who wanted to come in with me, can i base trying to buy her out on that or is it solely on my wages
there is no difficulty with her family gifting her money to assist her with the purchase of your share. There are only three obvious obstacles to your selling her your share - your being unable to agree a price; the lender refusing to release you from the mortgage because they are not satisfied that your partner could afford the mortgage on her own or (and this is unlikely) the restriction in your shared ownership lease preventing your partner from living at the property on her own
if one or more of these obstacles cannot be overcome, the property will need to be sold in order that you can realise your share
Does the above answer all your questions or is there anything I can clarify or help you with any further?
no thats good. thank you