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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

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Original poster

To want to sell my half

52 replies

Verycold · 20/07/2014 22:55

of a house I jointly own with my brother?

He won't have the means to buy me out.

My financial situation means that I need the money, is there any reason I shouldn't do it?

OP posts:

TheSpottedZebra · 20/07/2014 23:24

Because he is male or does he have additional needs?

TheSpottedZebra · 20/07/2014 23:25

What if you spoke to them and the outcome was you split the rental income 50/50 - would that make enough difference to you?

Original poster

Verycold · 20/07/2014 23:28

Because he is male.

I have recently had a grumble to
dm and his fee was reduced from 400 to 200 per month!!

OP posts:

iamsoannoyed · 20/07/2014 23:29

Then I think it's about time you did what's best FOR YOU and not let yourself be bullied into accepting whatever they decide you are entitled to. The property is half yours.

Your DB can look after himself, presumably, so let him. It's between you and your DB, and not really your DMs business.

If your DM has an issue with this, I'd ask her why his needs/financial situation is more important than yours? You are entitled to do what's best for your financial situation, and you've already put up with far more favouritism over this house than I'd have stood for. It doesn't say a lot for your DB that he went along with it.

I also would insist on an equal 50/50 split and no added extra's for DB for his "administrative work".

ICanSeeTheSun · 20/07/2014 23:31

If your mum tries to talk you out of it she could always buy out your 1/2.

TheSpottedZebra · 20/07/2014 23:33

Agree. They are not playing fair, not looking after you both.
So look after yourself and do what you want.

200 fee is ridic. Unless it is yen.

NoArmaniNoPunani · 20/07/2014 23:33

He was getting 400 a month for admin?! Definitely sell

Original poster

Verycold · 20/07/2014 23:39

I know... and I just put up with it not to upset my mum

OP posts:

ICanSeeTheSun · 20/07/2014 23:40

Well if your mum likes the set up offer her first refusal

thecuntureshow · 20/07/2014 23:45

Do you pay capital gains on foreign homes? Is it worth selling if you do?

WhereYouLeftIt · 21/07/2014 00:58

"my mother in particular rates his financial needs higher than mine."
"I think the family, incl my mother, wont be happy with me"

Wow. In your shoes, I'm not sure I'd care much how happy she was about you wanting to sell YOUR property. Maybe if she hadn't interfered and your inheritance was not being denied you (because this unequal sharing of the rental income simply should not be!), you wouldn't even have thought about selling it. Her actions must inevitably have consequences.

Original poster

Verycold · 21/07/2014 07:03

Trouble is my mum doesn't think she's doing anything wrong.

Looking at the legal side apparently my brother will have to agree to a sale or to buy me out

OP posts:

MaryWestmacott · 21/07/2014 07:08

Tell your db you want to sell, see what he says, point out if he mortgages it, he'll still get to keep the half he currently gets, only using the other half of the tenant rent to pay the other half of the mortgage. Eventually he'll own the lot.

ScottishInSwitzerland · 21/07/2014 07:12

As far as I know, the law in Scotland in this situation would be that either you would need your brothers consent to sell the property or else you would need To go to court to force a sale. Easiest options would be selling whole house with consent or getting somebody to buy just your half.

I would assume the law will be similar in the country the house is in. I can't see how you can sell the house against his will without somehow involving courts. And that may be expensive and would probably cause bad feeling in the family.

Could another family member buy your share if your brother can't/won't ?

bragmatic · 21/07/2014 07:43

My brother wanted to sell mums house. I didn't. I bought him out. Had I not had the means to, I'd have sold. I understood his reasons for selling (upgrade for his family), so it was fair enough.

As for rental admin? There is barely any! Plus the agent does it all!

Optimist1 · 21/07/2014 07:56

You have to tell your brother that you want to liquidise your share of the assets in the house, and give him a reasonable proposed timescale. This will give him time to explore the possibilities open to him.

I'd advise caution in regard to the true value of the house and what is paid to you, though! You'll need someone (lawyer?) in the country to look after your interests IMO.

HecatePropylaea · 21/07/2014 07:59

If it is in your joint names and you want to sell, you have the perfect right to.

Sounds to me like your brother is doing bloody well out of it. I think that anything given to you, ought to work for you at least fairly!

See how it can be done, particularly what would be required if he did not agree.

If you need the money, then you need the money and you have the right to sell something that is yours.

WaywardOn3 · 21/07/2014 09:47

Have you paid half of all maintenance work/ getting it ready to rent out stuff that the house has needed? Or since your DB has been the main LL has he paid in full?

If he paid for it all are you sure you'll get half from the sale or will he knock off your half of those expenses from your share? He could also bill you if you expect him to do the lions share of the house sale work...

YANBU to sell but he also WNBU to take your share of any bills relating to the house from your half of the money released from the house if you hadn't helped with stuff

TeacupDrama · 21/07/2014 09:57

the important question is precisely what does the will say and then what the law is in the country where the property is,
you say it is your father's property is he still alive? ( I don't mean to be insensitive) if your father expected the house to be kept in family then maybe you have to go for fairer rent; normally an agent takes 10-12% so it BU for your brother to take more

Original poster

Verycold · 21/07/2014 10:14

A proportion of the rent goes into a separate account to pay for the upkeep, but db deeals with all repairs, liaises with clients, pays bills etc

OP posts:

partialderivative · 21/07/2014 18:53

Are you getting an income from this property?

Original poster

Verycold · 21/07/2014 19:10

Yes

OP posts:

hamptoncourt · 21/07/2014 19:23

I would sell. This is dreadfully unfair on you.

Time to stand up for yourself.

Original poster

Verycold · 31/07/2014 09:12

So... My brother is keen, turns out because he is planning to leave my sil to set up house with his new girlfriend...
Think I might not want to sell after all!!

OP posts:

MimiSunshine · 31/07/2014 10:14

Woah, now there is a twist.

I’d still sell if i were you, you aren’t benefitting from this financially. However how much as a % does your brother get extra in monthly rent for “managing it”?
Because i suggest, you manage the sale (even from the UK it shouldn’t be difficult) and then tell him and your DM that you are taking your half plus x% (the same as his extra %) from the proceeds “as your fee”.

I bet that goes down like a turd inthe swimming pool but i’d still do it.

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