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Thomas
Thomas, Lawyer
Category: UK Property Law
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Experience:  BA (Hons), PgDip, Practising Solicitor
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My Father and my self jointly bought a house over 10 years

Resolved Question:

My Father and my self jointly bought a house over 10 years ago, we were advised to become 'tenants in common' from the start, which we did, we have lived together for all that time, my father passed away 8 months ago, and in his Will he left his half share of the property equally between myself and my sister and brother giving us a third share each, which means I now own 4 shares and my sister and brother 1 share each, my brother and sister are trying to force me to move out so the whole property can be sold, but I do not want to sell, or move out, what are my options please
Submitted: 1 year ago.
Category: UK Property Law
Expert:  Thomas replied 1 year ago.
Hi

Bearing in mind that you now own 66.3% of the property and the each own about 16.6% can you afford to buy them out?

Is there a mortgage in the property?

Tom
Expert:  Thomas replied 1 year ago.
Hi,

Are you able to respond to the above post in order that I may provide you with an answer please?

Kind regards,


Tom
Customer: replied 1 year ago.

I can not afford to buy them out and there is no mortgage on the property either, I have had a word with the the bank and they will not lend me any money on the salary I earn, especially with the house not being solely owned by me

Expert:  Thomas replied 1 year ago.
Hi

Thanks for your patience.

Basically, unless your siblings are prepared to litigate then nothing will happen over this.

However, if they have a consultation with a solicitor about the situation they will realise that litigation in this area is quite straightforward.

Your siblings (if minded to litigate) would make an application to county court for an order for sale of the property based upon their respective interests in the property. The Courts are generally quite reliable on granting these orders where one party is not able to buy the others out.

There is quite a distinct possibility that they would ultimately be successful in getting an order for sale in these circumstances. However, it can drag on before the order and also after because a Court will only very reluctantly order that the property is sold for less than market value.

You probably have a bit of time before you get to this stage. So, you should focus on avoiding prompting them to get legal advice for as long as possible. Keep things amicable.

If they apply for the order then you have to drag things out but avoid being in contempt of court to give yourself enough time to attempt to refinance and come up with some offer to buy them out.

I am sorry that I could not have better news for you.

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Kind regards,


Tom

Thomas, Lawyer
Category: UK Property Law
Satisfied Customers: 6656
Experience: BA (Hons), PgDip, Practising Solicitor
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