How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • Go back-and-forth until satisfied
    Rate the answer you receive.
Ask Peter Collins Your Own Question
Peter Collins
Peter Collins,
Category: Property Law
Satisfied Customers: 8037
Experience:  Barrister at Self Employed
Type Your Property Law Question Here...
Peter Collins is online now

I own my property as tenants in common with my Ex parter.

This answer was rated:

Hi I own my property as tenants in common with my Ex parter. She is planning to move someone else in soon. I own 80% of the property and she owns 20% of the property, I was hoping to find out my legal rights regarding this and also as a majority owner.

Hello, my name is*****’ll do my best to assist you today and I’m sorry that you are going through this. I appreciate that is is important that you find a resolution as soon as possible.

Please bear in mind though that this is an email service and not live chat and therefore I may not respond immediately.

Please note that our discussions on this site are for general information purposes and do not create an lawyer-client relationship. It is always recommended that you consult with a local solicitor for specific legal information. You may receive a phone call request which is from the site, not me, and you may choose to ignore this request.

I'm reviewing your question and will revert back to you shortly. Please do not wait on line for a response, you will receive an email notification from JustAnswer to tell you that I have sent a reply.

Please be patient with me as I am generally assisting multiple customers at once! Thank you.

You have a couple of options here. To be clear though, legally you are both owners, just because you are a majority owner you don't necessarily have more rights.

With a property that is jointly owned, you can either:

a. agree to buy out the other party at market value of their share; or

b. sell the property and divide the proceeds according to the trust declarations, i.e. 80/20.

It's not an option simply to do nothing, unless the other party is happy for this to be the case. But, even if they agree to do nothing now, if they decide in the future that they want their money and you can't buy them out, then they would succeed in going to court for an order for sale, I'm afraid.

I hope that this answers your question?

Thank you for your enquiry today. I am happy to answer follow-up questions - please do get in touch with requests for extra information or further queries and I will do my best to help you.

Customer: replied 12 days ago.
Thank you for your response. What are my rights in regards ***** ***** other party moving an additional person into the property?My plan is to buy out her share using additional lending with the mortgage broker. When we bought the property I laid down a deposit of £100,000 and she paid nothing. Obviously she is now entitled to the 20% as that is what is in the mortgage but are there any legal avenues available to me for better leverage when buying her out?Many thanks,

Your leverage is the deed of trust - and the 80/20 is presumably to reflect the additional Moines you put in at the start.

The only other factors to consider are personal contributions that have increased the properties' value, for example.

Can I clarify anything further?

Customer: replied 12 days ago.
If it comes to selling the property who would be responsible for paying what associated fees to solicitors and such? Would this be split 50/50 or 80/20?

Actually it can be argued either either way - i.e. that shares of fees should be proportionate to shares in the property or that fees should be shared equally as this is separate from the trust deed. I'd start from a presumption of 50/50 on the fees in this case.

Customer: replied 12 days ago.
Thank you very much for your help, I may be back in touch if I think of any more issues but that is great for now thank you.

My pleasure.

Peter Collins and other Property Law Specialists are ready to help you

Thank you again for visiting JustAnswer, please do let me know if you have any additional questions in the future. I am also happy to answer any new questions on other topics that you may have, you can request me by putting “for PLCLEGAL” at the start of the new thread. Best wishes, Peter