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Clare
Clare, Solicitor
Category: Law
Satisfied Customers: 35432
Experience:  I have been a solicitor in High Street Practice since 1985 with a wide general experience.
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I was hoping to seek some advice with regards to a property

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Hi, I was hoping to seek some advice with regards ***** ***** property I bought with someone else while at university.We bought a property with a plan of renting it out at profit, neither of us ever lived in the property. I unwillingly had to fund full renovation of the house and pay full bills mortgage and council tax etc during the long renovation period. After renting the property out I still had a deficit with the house with regards ***** ***** spent on renovation and mortgage. I requested to sell but kept being told he would buy me out or a family member would. The property stood empty for a while, while I solely paid the bills. I had to move far away for work by this point and upon having a council tax refund for two months called the council to be told the property was tenanted without my permission. Since then I have been requesting sale and still having to pay some mortgage payments for months where it has remained unpaid.Overall I believe the amount I have paid extra to the property equates to in excess of his entire equity stake. At time of purchase our equity stakes were 50/50.He has now agreed to sell on the open market on the basis that we split the property 50/50 with regards ***** *****Have I lost my extra invested capital or do I stand able to reclaim any of this money?Please help advise!Thank youJames
Customer: replied 5 months ago.
One additional point which may be important is that we bought the property as joint tenants as opposed to tenants in common.

My name is Clare

I shall do my best to help you but I need some further information first

How much is the property worth and how much is outstanding on the mortgage?

how much did you spend on the renovations?

Customer: replied 5 months ago.
Hi Clare, thank you for your quick response.The property was bought in 2012 for a price of £46,000, I last had the property valued three years ago at £48,000. The Outstanding mortgage is around £32,000.As I did all the work myself the total cost of the materials for the renovations only came to £700 however before the property was let the first time I had paid over £3,000 on the mortgage and was the sole payee for the original solicitor and survey at just under £900. Since then I have also paid the larger share of the mortgage despite the property having been let out without my knowledge / permission while he has taken sole profit on the rent.Thank you,James

May I ask why you have paid a larger share of the mortgage?

Customer: replied 5 months ago.
Hi Clare,The guy I own the house with hasn't answered 100s of my calls and has replied to very few text messages. I have had to pay the mortgage to prevent arrears and damage to credit rating.I have on the rare occasion had him explain he can't pay due to financial difficulty.Thank youJames

Ok

have you kept a record of all the mortgage payments you have made (and any other necessary outgoings)

Customer: replied 5 months ago.
Hi Clare,I do not have a record per se but this is all recorded on the bank statements.Thank youJames

Just for clarity - and to ensure I give you all the necessary options - will he still agree the sale if you do not agree the 50/50 division?

Customer: replied 5 months ago.
Hi Clare,No - unfortunately he will not agree to sale on a non 50/50 basis.Thank you,James

That is fine.

You are entitled to apply to the Courts for an Order for the sale of the property using the Trusts of Land and Appointment of Trustees Act - and within the application to ask for the Court to give you credit for the extra contribution you have made - and for your share of the rent that has been paid.

the process is described here

https://www.slatergordon.co.uk/media/2347003/land-disputes-a-guide-to-procedure.pdf

I hope that this is of assistance - please ask if you need further details

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