To want more money from my ex friend?

[Othering]

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.

[purplecorkheart]

Would anyone else be interested in buying your share realistically?

[listsandbudgets]

Various options:

a) change your mind and keep your share
b) sale it to her for your original investment
c) take her to court to force her to buy half at current market rate ( I think youd lose cant force someone to buy if they dont want to)
d) come to a compromise somewhere between market value and original investment ( this would be my favoured least acrimonious option)
e) Find someone else to buy it at the price you want..Presumably if your assessment of market rate is correct you'll have no problem.

If someone did to me what you're trying to do to her I'd not be happy be happy at all. You entered an agreement with no get out clause. You decided after a relatively short period of time you wanted out and then you tried to make a massive profit at her expense... an expense shes almost certainly not budgeted for because when she entered into the agreement she assumed it was a long term thing.

[Othering]

@STAYTHEFUCKHOME

Anyone else thing the OP is loving the attention of people trying to guess?

Absolutely not. Couldn't give a shit about the attention. It's a real issue that's come between me and my sleep. Am checking out now. I won't be drawn on what it is and ive had really interesting and useful input. Thanks all.

[Tianalia]

Sell your share to someone else.

[prh47bridge]

You want to sell your share of the item to her. She has indicated how much she is willing to pay. You don't have to accept her offer. The courts won't force her to offer more.

If you want 50% of the current value of the item your only option is to ask the courts to force a sale. It is not entirely clear whether the courts have the power to force sale of a single item like this so there is no guarantee of the outcome. There are reasons to believe the courts do have the necessary powers but the legislation is unclear and there are no precedents as far as I am aware. It may be, of course, that she will settle if you make it clear you intend to take legal action if she doesn't agree.

[StillCoughingandLaughing]

The main question for me is, why do you want to sell it? Do you need the money? I’m guessing not as you’ve offered to buy her out instead of vice versa. Is it then that you simply don’t want to own something jointly with her now you’re no longer friends? If so, unless she feels the same, I’m afraid she holds the cards. She could easily just say, ‘Well, I’m happy for you to carry on owning half, so I’m not being forced into buying your half for more than you paid for it just because you don’t want it anymore’.

[Pelleas]

This thread is playing out like a game of charades .

[iano]

You're entitled to half the items current value. You've offered to buy her out presumably offering her half the current value and she said no. Equally she doesn't want you to sell to a third party.

I'd tell her you want half the current value or you're selling to someone. Up to her at that stage. She sounds a bit grabby here trying to end up with all the increase.

[Ponoka7]

The Court wouldn't force a sale because there wasn't an intention of creating a legal contract. There was a similar case on Judge Rinder. It was a piece of vintage jewellery. As a good will gesture and in the spirit of friendship, the difference was split. But as there wasn't a legal contract and the item wasn't bought for investment purposes, he did think that it the other party had a point to just offer the original cost.

The cost of going to court would wipe out any profit. There has to be a winner and they don't always award costs, anyway.

[LolaDarkdestroyer]

For the love of god just say what it is it's not like she wouldn't know you from this post anyway hate posts like this

[chipsandpeas]

you want to sell - shes made a offer - your want more so its a stalemate
i dont think a small claims court would deal with this
if you cant sell your share to someone else then you are stuck

[Footle]

Animal,vegetable or mineral?

[Cramitmaam]

I agree with others that it's hard to answer without any idea what this thing is, but I don't agree that you should be paid the original price if it has objectively gone up in value. Usually if you buy someone out of something then you pay them the value of their current share, not their original investment.

Is there no way you could just stick it out? I wouldn't want to lose all of that money over a gripe between friends, and you can't really force her to buy you out if she's happy with the current arrangement. It is you that wants to sell, not her.

[burnoutbabe]

If this was a house then if the co-owners did not agree what to do, they can take it to court to resolve and in most cases (assuming no one had a child or disability) the Court would order a sale to give the owners freedom. Which would be market value (and either side could offer that to keep the item 100%)

I assume the courts would do the same with this sort of thing.
Worth a chat with a lawyer, depending on value of object now and then.

[User8008135]

Get legal advice. If she hasn't paid you money yet then it's half yours to do as you please

Is it physically in her possession?

[TinkerPony]

Jewellery or vintage watch

[OpenWheelRace]

The information you've already posted would be outing to her if she read this, so you may as well say what it is and we can advise accordingly.

[CucumberTree]

Tell her you are paying to get it valued, she then either pays you half current market rate or you sell it to someone else and you both get the money.
Don’t understand people saying you should pay the original price.

[Daisydoesnt]

I can’t see how you can really value “half” an item, because as a PP pointed out who is going to want to buy a half from some randomer? The only realistic chance you have of selling your share is to your friend or if you happen to have another mutual friend that might want to buy it.

It’s really really illiquid. The “whole” item might have increased in value, but half???

And eve if the value has shot up that much (from hundreds to thousands) my current guess (yes I’ve moved on from horse) it designer handbag. I can imagine the value could go down again as much as it has up, on the basis that we’re probably heading into a massive global recession.

I’d take the money she’s offered and trouser it.

Although you’d be rightly sick if she buys your half from you, and then promptly sells it!!

[StillCoughingandLaughing]

Don’t understand people saying you should pay the original price.

The issue is, at least as far as I can see, that ex-friend doesn’t want to sell. If the OP wants to sell and XF doesn’t, you can see why people might think the OP should only expect her original stake back.

[Itwasntme1]

I think it might help to understand why you bought it jointly in the first place.

Was it an investment, or something to use and enjoy?

Will she sell it as soon as soon as she has sole ownership?

[MrsMcCarthysFamousScones]

you’d be rightly sick if she buys your half from you, and then promptly sells it!!

I agree. So I don’t see why op should accept the original cost when ‘friend’ could end up with thousands.

[draughtycatflap]

Is it one of these?

[DrFoxtrot]

I am looking to purchase an item that increases significantly in value over a relatively short period of time, I could do with knowing what to invest in

[VeggieSausageRoll]

Is it a field?