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.

[Patsypie]

Just say what the item is ffs. It doesn't make sense otherwise!

[blackpoe]

@Allthebestusernameshavegone

I disagree with everyone else. You bought it together and therefore you should both benefit from the increased value.
I bought my house off my ex, he was entitled to have the current value not what we paid for it. Despite the fact he hadn’t paid anywhere near 50:50 for it.
If she wants it she can pay you half the current value of it. Otherwise hang onto it.

you were ripped off there, it's the norm to take into account who paid what share.

OP we need to know what the item is, you have nothing to lose by saying as your ex friend will already recognise herself and the item if she reads the thread.

[TooTrueToBeGood]

She should be paying you for your share based on its current market value. That is the only approach that makes any sense unless you agreed at the outset that one could buy the other out based on original purchase price. That said, you can't force her to buy you out for the market value, or anything else. Your mistake was entering into this arrangement in the first place, learn a life lesson from it.

[FizzyGreenWater]

Such a silly thread - of course OP can't get good opinions without people knowing what it is, it's essential to understanding what leverage she might or might not have.

There aren't many things I could think of where someone is going to want to buy half a stake in something with a tricky other owner that they don't personally know. So I can't imagine you having much leverage with saying you'll sell your half (at top of market rate) to someone else. I would tell her that she either pays you the original stake plus some on top or you will stay as you are and by the way you want your turn now so you'll pick it up Friday. Then start being really awkward with the whole thing until she gets sick of it.

If she starts refusing to physically share it, I'd be straight to court - I wouldn't care about money at that point, I'd be right up her arse.

[lindaclark1018]

You need a judge on this. Hard to give a verdict without the full picture. Maybe aim for fairness, if the situation is opposite, how much would you pay her. For example, if your counter offer is buying her out with market price then you can demand the same from her. So if has to be a price where both of you are indifference of who gets it.

[FizzyGreenWater]

We also don't know if there's a way for you as the other owner to make it awkward for her to use the item, but if there is, then start being awkward.

[randolph78]

I think without knowing the item we are hard pushed to be helpful. It's bad form of you to expect to get out of the arrangement so quickly and suggests you did not think tings through properly. Your friend may not be able/ willing to share this with someone else - we don't know how intrusive that would be with absolutely no idea whether we're talking about a boat, a garage, a beach hut, a painting, a fancy kitchen mixer, a field etc. I think you should accept half of what it was originally worth not least as compensation for the headache you are causing for your friend. Or, just stick with the current arrangement.

[Needtheadvice]

I don't agree with those that say friend should pay purchase price, that isn't how it works. IF and when someone wants out of ownership then it's the marked price that counts, not what it was brought for at the time of purchase.

[StillCoughingandLaughing]

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

I completely get it would be an absolute kick in the fanny to see the ex-friend make a big profit, but the OP is the one trying to force the sale. You can only dictate the cost of an item as the seller if someone wants it and you don’t need to sell. As things stand, the OP wants to sell to a buyer who didn’t want the OP to sell her share in the first place - at the price the OP wants to dictate!

[LaurieFairyCake]

Yes you should get full value of the increased price

Your ex friend sounds like an arse, sue in small claims

[SummerDayWinterEvenings]

50% of market value or sell your stake.

[burnoutbabe]

Thing is this may be top of the market and then it falls again?
So if friend pays full market value and does keep it, she will make a loss when eventually sells.

It can't be a piece of land (field etc) as that would be covered by co-ownership rules.

[Firstawake]

You want to change the agreement and profit?

[Jeremyironsnothing]

Be awkward then. Make sure you have it in your possession at least 50% of the time even if you don't want it.

[category12]

If it's the sort of thing you can sell your share of and someone else would be interested in having half of whatever it is, then do that.

If it's not the sort of thing anyone else would get the benefit of having half of, then it's only worth what your friend is willing to pay to buy you out.

[SkiddySkidz]

This is like a game of 20 questions.

[ArseholesOnToast]

Thrash it out on Judge Rinder. It’s the only solution.

[Cherrypie098]

Is it something that was bought as an investment and that she is likely to sell sooner or later?

Or was it bought to use, with no particular intention of ever selling it?

What is your reason for no longer wanting to be part of the arrangement, and offering her the choice between you buying her out or her buying you out? Is it that you no longer want the item, and would sell it if you became the 100% owner, or because you don’t want to own it jointly with her, or something else?

[Ellmau]

Are there ongoing costs of ownership?

[WhoWouldHaveThoughtThat]

Your share is worth what someone will pay for it. I suspect we've all sold things where we haven't got what we believe it's worth. Think of cars - I've always ended up getting less than I thought I should do. I'm still keen to know what it could be though. Is it a Faberge egg? I know they can increase in value even in these Covid times.

[Pinklynx]

This is a good lesson not to buy anything with another person. As it is there's stalemate and friend has OP over a barrel by refusing to sell to her or buy at current market value. Even worse friend has possession of the item.

A reasonable person would at least try and reach a compromise but friend is obviously not a reasonable person as she tries to rip off tradespeople. Lesson learned.

[LegitSnack]

Current market value or don't sell it.

Potentially, she could sell it the next day for the increased market rate, getting 100% of the profit. Why would you even question this?

[Flymetothetoon]

Is it a cannabis crop?

[YouDirtyMare]

Put it on the open market, it doesn't matter if she really wants it. You've told her the price. That's it
She is still going to own half of it

[garino]

Is it bitcoin or another crypto currency?