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I have split with my partner and we wish to sell a property…

i have split with my...
i have split with my partner and we wish to sell a property we own.
the tenants have caused considerable damage to the property, my ex is refusing to contribute to
the repair of the property (which i believe is worth less than the outstanding equity)
my ex partner has agreed to forgo her share of any profits, relying on myself to bring it to positive equity.
Does this agreement have to be made thro a solicitor or could it be done any other way ?
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Answered in 2 days by:
1/7/2018
JGM
JGM, Solicitor
Category: Scots Law
Satisfied Customers: 12,535
Experience: 30 years as a practising solicitor.
Verified

Thank you for your question. I am a solicitor in Scotland. Because this is an agreement involving heritable property the agreement MUST be drawn up professionally. The general rule about property in Scotland is that the title determines the property shares. If this is not to be the case a formally signed and witnessed Minute of Agreement is needed and both parties have to be separately represented. For that reason your own solicitor should draft an agreement in appropriate terms and send it to your ex to take legal advice as she sees fit. Once the agreement is signed, the property can be refurbished and sold and you can be reassured that the Minute of Agreement will take precedence over the terms of the title. I hope that helps. Please leave a positive rating so that I am credited for my time.

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Customer reply replied 7 months ago
on a similar vein, if for talking sake, the property sells for 10K less than the outstanding mortgage, the selling fees are 3K and there is debt on the property of 8K factor fees.
i believe the property cannot be sold with the debt of 8k factor fees on the property.
what would be order these debts would be paid and if the debt on the property wasn't paid would that mean the property couldn't be sold

The mortgage is a secured debt and would have to repaid first with the costs and factors fees being ordinary debts although the conveyancer wouldn’t settle without fees being met. From the figures you quote this property couldn’t be sold.

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Customer reply replied 7 months ago
Could that property be sold without the ordinary debt of factor fees
being paid ?

Provided the factor has not placed a Notice on the property in connection with the debt. A factor can now place a Notice of Potential Liability for Costs on the property under the legislation and you could not then sell without paying the factor.

JGM
JGM, Solicitor
Category: Scots Law
Satisfied Customers: 12,535
Experience: 30 years as a practising solicitor.
Verified
JGM and 87 other Scots Law Specialists are ready to help you
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Customer reply replied 7 months ago
tanks again JGM
Customer reply replied 7 months ago
thanks again JGM
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