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DM house being sold-anything she can do?

(60 Posts)
Hedgehog80 Tue 13-May-14 13:09:13

My parents got divorced years ago (1998i think) at the time df was given a 37% share of the house which was meant to be sold when dsis, the youngest child was out if education or 18 yrs old.

That came and went, dsis is now 27. Df is now insisting the house is sold and DM doesn't want to. He said she can't even take him to court as once the divorce agreement was broken years ago its now just up to him to sell when he wants despite her having a bigger share. It was df choice not to sell he decided not to as dsis had been unwell and then he just moved away and didnt mention it till now.
DM said she can't afford costly legal advice so I wondered if anybody knew if what df says is correct that he can just go ahead and put the house on the market as he is going to see an estate agent?

Thanks

Hedgehog80 Tue 13-May-14 13:59:35

She didnt have any mortgage to pay as they owned the house outright before they split up.

holidaysarenice Tue 13-May-14 14:01:55

And if I was your father and she wanted to play hard ball I would be counting up the nine extra years she stayed and working out the rent that could have been had.

450k house at least prob 1400 a month depending on where u are. So 16800 a year x 9 = 151200. Even a third share of that is 50000. Eye watering.

BrianTheMole Tue 13-May-14 14:03:40

Df should bloody pay maintenance for all those years owing out of the house.

Hedgehog80 Tue 13-May-14 14:03:49

Its very difficult to get her to face up to it. I can see it ending up her being evicted.

She is livid as was a 'carer'fordsis for years. Until dsis decided she was suddenly perfectly well, got a bf and jets off everywhere etc and laughed at DM for everything. DM has been at fault at times too though.

Should have been done when dsis was 18

TheNumberfaker Tue 13-May-14 14:09:48

Get some legal advice and start showing your mum some lovely houses/ flats for £250-300k...

She needs to move on and downsize anyway.
Your sister sounds like a real charmer!

Hedgehog80 Tue 13-May-14 14:12:27

I tried to ask dsis to speak to DM to try and get her to face up to the prospect but her reaction was " don't phone me, I'm on a luxury mini break and I'm happy so I don't care"

specialsubject Tue 13-May-14 14:23:04

make sure your mum knows what your sister said. Wow.

Your mum has to face up to facts, she will be moving. Time to take control of her own life.

Hedgehog80 Tue 13-May-14 14:26:56

Its a horrid situation. I can see it from all sides (not so much dsis though!) just wish it had been resolved years ago.

LancashireMan Tue 13-May-14 21:07:26

The reason DF didnt act 9 years ago could be that he wanted to sit back and watch the property increase in value.

There is an argument for giving him 37% of the value of the 2005 value of the property.

Something for the lawyers to get their nashers into...

Hedgehog80 Tue 13-May-14 21:56:16

He did say today tht he wants it sold NOW! Before value decreases.

Been looking today for possible properties DM may be able to get (near her work and area she wants) and there's nothing. Most 1 beds a too expensive (nw London) so if it all goes ahead she will have to rent I think.

Mini05 Tue 13-May-14 23:31:28

I think you DF knew exactly what he was doing!
Leaves and then says he won't work so she doesn't get any maintenance for herself or dsis(just sums him up) and then doesn't act on getting his share( why because he knew he'd have to pay main thence!!!)
So left it till it went up in value!! (I'd be finding out how much the house was worth back in 2005) and then demand when HE thought he wanted his money back. Very selfish and arrogant

If your mum won't find out for herself, then you do it on her behalf if you know all the facts. Everybody is entitled to free half hour or maybe hour in any area.

As regards you dsis what makes her think DF will be giving her any money, let's face it he didn't care when he left weather she had food or clothes.

An other idea do they have any retirement apartments where your mum leaves, you know the newer ones where they have there apartment but also a lounge where residents can go for a chat if they want. Newer apartments mean less out goings and no maintence.

OwlCapone Wed 14-May-14 07:21:38

There can be a hefty service charge for those retirement apartments. Relatives recently decided to go for one and this out them off initially.

MidniteScribbler Wed 14-May-14 09:50:33

She should consider all of these years she has lived rent/mortgage free that she wasn't entitled to. The house should have been sold when they first split. Time for her to face up to reality.

SolomanDaisy Wed 14-May-14 14:36:31

How recent is the 450k valuation? If she is looking in the same area and can't afford a 1 bed flat for 300k I'd be surprised if a 3 bed house was only worth 450k.

Hedgehog80 Wed 14-May-14 15:01:54

Df spoke to an estate agent last week who gave him a rough estimate and looking at similar properties in the area it seems about right. I've had a look for 1 or 2 beds and they are so expensive round here and DM would struggle to find anything suitable. I think she will have to look at relocating completely as her share will not get her anything.

SolomanDaisy Wed 14-May-14 15:04:14

It must be a very unusual property market there.

Hedgehog80 Wed 14-May-14 15:11:24

The cheapest 2 bed in area DM would like near to where she is now was an ex council property 329000 pounds!

NatashaBee Wed 14-May-14 15:12:05

Could she pay rent to your DF for his share of the property? To be honest though, she has stuck her head in the sand about this and should have dealt with it earlier.

Hedgehog80 Wed 14-May-14 15:13:15

Df wants a lump sum

Hereward1332 Wed 14-May-14 16:02:25

Unfortunately there is no legal remedy permanently to deprive your DF of his entitlement. Your mother could have sold the property earlier - there is no legal burden on your DF to have demanded it. She is now left in a situation where she cannot afford a property of the size she wants in the location of her choice. It does sound as though she is clutching at legal straws to blame someone else.

poshfrock Thu 15-May-14 14:42:49

She could consider equity release. That may allow her to borrow sufficient to pay out your dad and she could stay in the property. The loan would be repaid when the house is ultimately sold (most usually on death). The downsides are:
1. She is quite young so if she lives another 25 years that's 25 years worth of interest rolling up
2. 37% is quite a lot to borrow - she may be restricted to 20-25%
3. If she wants to downsize in later life ( eg the house may become too much for her as she gets older) then she will have to repay the loan although often it is possible to port it over to a new property

Personally I think she should downsize now and let your dad have his share but ER is an option.

poshfrock Thu 15-May-14 14:51:35

So if dad is due 37% of £450k that would be about £166,500.

Mum could sell house for £450k and buy 2 bed property for £330,000 ( based on your figures). Give dad immediate cash lump sum of £120K from sale proceeds.

Then do equity release on new property for balance owed to dad of £46,500. That would only be 14% of property value so more likely to be approved. Also far less interest to roll up. Again no payments to make in lifetime and loan repaid on ultimate sale of property.

Of course that's all dependent on dad being prepared to wait for balance of funds while mum buys new property and arranges finance but it could work.

Hedgehog80 Thu 15-May-14 15:05:42

DM wants to remain in the house but df said that even if she can raise the exact amount to pay him off he doesn't want it from that,he only wants the money AND the house to be sold.

PeterParkerSays Thu 15-May-14 15:14:23

I doubt he can say that the house has to be sold but, as she's unlikely to magic up 37% of £400k +, I guess it's a moot point.

Is the issue about 1 or 2 bed properties that they are going to young couples / professionals so aren't as comparatively lower than houses as would usually be the case?

I'm sorry but your mum is going to have to look at a neighbouring borough. She'd be better off buying, and have an asset, than renting with the house sale balance as a lump sum, but I guess you know that.

lunar1 Thu 15-May-14 15:27:06

I would advise your mum to be careful here. The house I bought was on the market for far more than we could afford but I fell in love with it.

I put in what I thought was a stupidly low offer and was very confused when the estate agent accepted it immediately.

Unknown to us the owners divorce became so messy that the court sent someone out to value it and ordered it to be sold at the first offer of xxx or above. It was valued in the midst of the house price crash and we bought it for £75,000 less than other houses had sold for just 2 months before.

If there is anyway this can be done amicably I would try and encourage her to sort it out.

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