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Original poster

Co-owner won’t let me buy his share of flat. Help

18 replies

Prosperhigh · 01/03/2021 14:04

Hi there,

I need some advice about this as I’m filled with worry and it would be greatly appreciated.

Me and my ex split in 2013. We jointly owned a flat mortgage free and I’ve lived in this flat myself for the last 7 years. I’ve tried for the last 7 years to amicably buy him out as we have moved on from each other and he bought his own house but he’s just ignored my lawyer’s letters and every time I try to speak to him about the flat he’s just verbally abusive.

Eventually his lawyer has responded to me saying he will accept an offer to buy his share. I got the flat valued last month by two estate agents and a surveyor. It was valued between 78k and 90k so I offered him 38k because I thought that was fair given I have solely maintained the property for the last 7 years and upgraded it since then (new kitchen and bathroom).

However his lawyer replied that he would only accept 55k as he believes the flat would go for more on the open market. In an attempt to resolve this long standing issue I sent another final offer of 45k so it was spilt 50/50 down the middle from the highest end of the values. But he has rejected this offer and his lawyer has threatened going to court to raise an action of division and sale unless I pay 55k. I’m really worried about what happens now, are they going to put the flat on the market forcefully even though I happily want to buy him out?

I’ve tried to be fair but I’m not getting the same back from him.I don’t want to lose my home. Please help me. Thank you

OP posts:

RubyViolet · 01/03/2021 14:10

Wouldn’t you possibly stand to gain if the sale went to the open market ? There may be no other offers, or any buyer may be put off as it’s a complicated sale.

Unfucked · 01/03/2021 14:14

What a king-sized prick.

Not to mention a terrible negotiator. Turn it back on him - let him put it on the market, and see what price he gets when the prospective buyers learn there’s an incumbent part-owner who’s refusing to sell .

womaninatightspot · 01/03/2021 14:15

I'd agree to put it on the market and then put buyers off. Then reoffer the 45k at a later date.

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Freddiefox · 01/03/2021 14:25

Put it on the market.

VinylDetective · 01/03/2021 14:32

@Unfucked

What a king-sized prick.

This. Would an agent even take it on without the resident co-owner’s signature?

Original poster

Prosperhigh · 01/03/2021 14:34

Forgive me for being a bit dim but when you say put it on the market does that mean it’s only his 50% share that is up for sale basically or is it the whole flat? I really don’t want to move. It’s the whole legal speak of ‘action of sale and division’ that I don’t fully understand. I just want to buy his share for a fair price and I think he’s just trying to be difficult

OP posts:

ArcheryAnnie · 01/03/2021 14:35

Just as a backup, make a list, with evidence, of all the upgrades you have done.

loveisagirlnameddaisy · 01/03/2021 14:38

@Unfucked

What a king-sized prick.

I'm not familiar with the court action he's threatened but if he were successful presumably this would mean the OP can't refuse to sell and can't interfere with a sale.

MrsTerryPratchett · 01/03/2021 14:39

I really don’t want to move.

Ask yourself if you really do want to live in a flat co-owned by a controlling and abusive arsehole. Because out of the two options, selling does seem the best one. And for negotiating, you have to be a bit cold and heartless and as long as you are attached, he's got you over a barrel.

They are talking about selling the whole flat and dividing the money.

SadderThanEeyore · 01/03/2021 14:40

What are the costs of selling? Agent's fees, solicitors etc. They would have to be taken in to account.

loveisagirlnameddaisy · 01/03/2021 14:41

OP, I would assume the action of sale and divison is usually applied in acrimonious divorces where one party is refusing to sell and the financial aspects of a divorce are effectively put on hold.

Your situation is different and your ex has demonstrated in the past that he was not interested in selling and is only forcing you into this position now because he disagrees with the valuation you've received.

I would imagine a court would view this dimly as you have acted fairly but it may be worth speaking to a solicitor who specialises in this area.

SendMeHome · 01/03/2021 14:43

put it on the market does that mean it’s only his 50% share that is up for sale basically or is it the whole flat?

It’d be the whole flat, you couldn’t list half of it for sale. So his solicitor is suggesting that they’ll apply to court to get a sale order, and then split the proceeds. That’s not to say that they would get the order.

Did you send proof of upgrades and things to make your half worth more? They will be useful for court, if it gets that far. You’d have the opportunity to argue for why it shouldn’t be a 50/50 split.

I wouldn’t send a final offer again, as you’ve already done that; and it’ll make your position look weak. But you may have to accept that selling is the best option here, unfortunately.

NoSquirrels · 01/03/2021 14:46

I’d have thought there must be some sort of expectation of independent mediation before a court would pronounce on this, and as he’s acting obstructively I’d imagine it would be hard for him to pursue the action he wants.

Gather all your evidence - how often you have tried to buy him out, how many times he has ignored approaches, all the valuations, all the maintenance and upgrades etc. Go see a solicitor who can write his solicitor a stroppy letter.

Stop worrying. He’s an arsehole. Get arsey back.

VinylDetective · 01/03/2021 14:52

I imagine the cost of a new kitchen and bathroom would be offset against the unpaid rent for 50% of the property for seven years - assuming this is the case. I think if I could I’d offer him £50k, pointing out that selling costs would probably reduce his share to close to that amount if it went on the open market.

He’s undoubtedly doing it to be awkward but only you know whether it’s worth the stress of going down the legal route @Prosperhigh.

iwishiwasatcentralperk · 01/03/2021 14:52

He should have got his own valuations, and then you compared yours with his, and take an average of the 4. Get your own solicitor on to it and request that he provides 2 valuations to back up his figures.

He is just being a controlling dickhead . You may love the flat, but maybe the best thing to do would be to sell and split the money equally if that is how you own it. You would be free of him for good then.

Original poster

Prosperhigh · 01/03/2021 14:59

Yeah I’m definitely going to contact a solicitor. Surely there must be another way in court so that a judge could decide for us. Clearly I’m willing to pay half for it so rather than forcing it to sell on an open market it would be good if a judge could force the sale to me as he is being unrealistic. Wishful thinking Maby 😞

OP posts:

firsttimewoofy · 01/03/2021 15:15

You need legal advice but read this link, particularly the end bit - sounds helpful and like division and sale could possibly end up work in your favour.

www.tcyoung.co.uk/wp-content/uploads/2018/11/Division-and-sale.pdf

gospelsinger · 01/03/2021 15:19

Personally, I'd just let it go cold for a while. It's amazing how you are handing all the advantage to him, when actually you have the advantage. You are living in the flat. You are not paying him any rent. Posession is 9/10 of the law. He doesn't seem bothered about getting his money, yet you are chasing him. Leave it and let him think about it for a bit. If he comes back to you, restate your original request of 38K. Don't sound desperate. It would be very difficult for him to put it on the market without your cooperation. Time to play hard to get.

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