2 people own 1 house. 1 wants to sell, the other doesn’t. What is the best course of action?

[ItchyScratch]

Hi, any advice greatly appreciated here please.

If two people (not in a relationship) own one house, and one person wants to sell and take the money but the other refuses to sell it.... what happens?

What is the correct legal way for the stubborn one to buy them out?
Do they require a mortgage? Or is it a loan?
What service would you ask for with a solicitor?

Please and thank you 😊

lmgtfy.com/?q=can+i+force+the+sale+of+a+jointly+owned+property+uk&s=l&iie=1

I have already googled it.

Literally the first result tells you everything you need to know.

You would do a transfer of title from joint names to one sole name and they would remortgage to an individual mortgage and buy the other out.

@PolPotNoodle
It’s American answers.
Also there is no mortgage.

So so sorry that I am not quite as clever with you.

I asked as there might be others who can share with me the experiences.

Is that ok?

Thank you @rainbowsend4
What if the mortgage is fully paid?

The person buying you out would need to get the funds from somewhere

Unless the stubborn person has cash to buy the other ones share they stubborn one would need a mortgage.

1. both agree a price (get a range valuations to be fair)

2. stubborn person pays other person the fair amount for their share and gets property legally signed over to them (financing with a mortgage if needed)

Then the one who owns half of it and wants to keep it has to give the other owner 50% of its value. They may need to raise a mortgage of their own to.do.this.

If there is no mortgage, you need to get the house valued and the one who doesn't want to sell will need to raise the funds to buy the other out. Either with a new mortgage or with cash.

Thank you all.

Would else ask a solicitor to change the house into stubborn persons name only and then they give us the money?

Sorry if I am coming across a bit ‘thick’ but the fact is- I am!

Speak to a solicitor before starting the process to ensure you do everything in the right order.

If the stubborn one won't raise the funds to buy the other out, a court can force the sale. A friend of mine went through this when she split from her ex. He completely refused to engage. After a lot of back and forth, the court eventually appointed bailiffs to evict the ex and gave my friend authority to sell. The judge also awarded all costs to my friend, which were deducted from the ex's share of the proceeds.

No, don't ask a solicitor to change the house into the stubborn one's sole name. That would be giving them your share of the house for nothing. They must pay you your share before that happens, otherwise you are giving away your share, and they'll be under no obligation to give you anything.

My cousin found herself in this very situation, and sorry to say it all ended very acrimoniously in court.
Parties couldn't agree on the value of the house so it had to go to court to be settled. Basically, the court decided on the fair market value, party A got a mortgage to buy out party B and the deeds were transferred upon the sale.
Unfortunately it ended a very long standing friendship and neither party talks to the other anymore.

Thank you all for the advice.
Much appreciated