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To want more money from my ex friend?

(266 Posts)
Othering Sun 28-Jun-20 09:42:50

Me and a friend bought something together, 50:50. We both paid several hundred pounds each. Exactly a year later, I wanted out. Friend (now an ex friend cos shes disgruntled that I wanted out) said she will buy me out, paying the original price back to me. Trouble is, the asset is now worth several thousand pounds. It has appreciated significantly. Aibu to think she should pay me half the current market value? She can very easily afford it BTW.

OP’s posts: |
calmcoolandcollected Sun 28-Jun-20 09:45:13

Your choices are to accept her offer, keep your 50% interest, or sell your interest to someone else at its current fair market value.

Thisismytimetoshine Sun 28-Jun-20 09:45:20

No. Not unless she was the one pushing you to sell. You don't want it any more, recouping your initial outlay should be enough for you, without trying to profit from your friend.

Singlebutmarried Sun 28-Jun-20 09:46:08

Depends what the something is and what agreement (if bought as an appreciating asset) was entered into at the time.

purplecorkheart Sun 28-Jun-20 09:49:12

Is it a property?

Waitingforboristoletusfree Sun 28-Jun-20 09:50:11

Yabu

Meredithgrey1 Sun 28-Jun-20 09:51:29

What's the item? And did you know it would gain value? Was anything discussed when you bought it?
If nothing was discussed, then she's made you an offer and you're free to accept or refuse. If she doesn't really want to buy your half, you can't really expect her to happily pay loads for it.

DDiva Sun 28-Jun-20 09:53:52

I can see why you'd want the increase reflected but maybe a compromise is the way to go. It also depends if your friend can afford it....

LagunaBubbles Sun 28-Jun-20 09:54:10

What is the asset, is it a horse?

Howlat Sun 28-Jun-20 09:55:17

YABU. Either accept her offer or sell your share to someone on the "open market". Unless you're not able to do that because of some agreement.

But it is a horrible situation to be in - for you both.

Soubriquet Sun 28-Jun-20 09:56:40

No. She paid exactly what you did, and then covered what you paid on top to buy you out

You don’t deserve any more money as you wanted out. You didn’t want it, until you heard it had gone up

ShandlersWig Sun 28-Jun-20 09:58:48

It really depends on the item and if it was bought as an investment at the time.

Othering Sun 28-Jun-20 09:59:51

It's not property, no. We didn't discuss up front what would happen if one of us wanted out. We didn't buy it as an investment. It just so happens to have gone up in value. I was equally as happy to buy her out and told her so. I said I didn't mind and she could chose. She's an ex boss who morphed in to a friend. It'll be hard enough to get her to pay me the original stake as it is. She's notorious for not paying anyone...... Tradesmen, bills of all kinds. If I want the market rate, it'd inevitably mean small claims or something like it.

OP’s posts: |
Whysomanyexcuses Sun 28-Jun-20 10:02:25

She sounds like a bully and is used to getting her way or not paying...

Insist she buys half of current value or buy her out.

What is the item - a picture?

Chaaaaaching Sun 28-Jun-20 10:02:54

I don’t blame her wanting to pay the original price. You’re being greedy.

Thisismytimetoshine Sun 28-Jun-20 10:02:57

You can't force her to pay the market rate confused. In fact you can't force her to buy you out at all, unless you'd agreed this at the time?

Othering Sun 28-Jun-20 10:09:52

Soubriquet

No. She paid exactly what you did, and then covered what you paid on top to buy you out

You don’t deserve any more money as you wanted out. You didn’t want it, until you heard it had gone up

Not even close to true.

OP’s posts: |
kazzer2867 Sun 28-Jun-20 10:10:03

She's notorious for not paying anyone...... Tradesmen, bills of all kinds. If I want the market rate, it'd inevitably mean small claims or
something like it.

So if you knew what she was like, why did you buy this item with her. Why do people think when people are a certain way that they will be different with them? You never discussed what would happen if either of you wanted to buy the other out. If it were me, I would not pay you more than your original 50%.

Elsewyre Sun 28-Jun-20 10:10:26

What exactly is the item?

Because its going to make a differnce small claims isnt going to help you unless you have a written contract coming this.

You said yourself your friends so when you do something like this without a contract it is assumed by a court you did not intend to create legal relations with each other. Ie you weren't going to take the other to court for failure to do anything

Lend your friend 1k without a contract or some supporting evidence and as far as the court is concerned you gave your friend 1k with the hope they'd pay you back if they could but it's still a friendly thing with the friend never expecting to be sued if they didn't pay you back.

So if you go the legal route she'll likely win and then be able to screw you with impunity.

So you need to sort this amicably as friends

whichteaareyou Sun 28-Jun-20 10:11:25

YABU. Sell it to someone else who will pay the current market rate

Othering Sun 28-Jun-20 10:12:32

I won't say what the item is as its too specific but its not a horse or a painting.

She's not a bully but she's totally used to getting her own way.

OP’s posts: |
Somethingkindaoooo Sun 28-Jun-20 10:13:56

What is it?
Context is important here.

DifficultPifcultLemonDifficult Sun 28-Jun-20 10:13:59

Why dont you buy her share at current market rate instead?

Sounds like that would be the simplest thing all round.

As there wasnt an agreement in place I think you would struggle in small claims court, especially as you have options to buy from her, or sell to someone else.

mrsbyers Sun 28-Jun-20 10:14:48

Interesting you suddenly starting calling her a bully when people responded saying she was acting reasonably - just take back your initial stake or kelp the asset

SunbathingDragon Sun 28-Jun-20 10:15:09

Just sell your half to somebody else. Although bear in mind it’s only as valuable as someone is prepared to pay.

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