Active discussions

Meet the Other Phone. A phone that grows with your child.

Meet the Other Phone.
A phone that grows with your child.

Buy now

Please or to access all these features

Talk
AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

To want more money from my ex friend?

265 replies

Othering · 28/06/2020 09:42

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.

OP posts:
category12 · 28/06/2020 14:17

This is why it matters what it is - because if it's not something someone else would be able to use half of as a non-friend, then OP's half is worthless to anyone else. Either she'd have to force a sale, which I can't see how she can, or it's worth however much her ex-friend is willing to pay - the market value is neither here nor there.

Tink88 · 28/06/2020 14:40

Of course it depends what it is for people to give advice. How do you know it has a market value? Say for example it's a handbag no one's going to buy half a hand bag you share with a friend so market value there wouldn't be worth anything

Coyoacan · 28/06/2020 14:49

There is "should" and what is possible. Be a realist:

  1. Can she get away with not paying you anything?
  2. Might she go down that route if you get her back up?
  3. How can you get your money back?
iklboo · 28/06/2020 14:54

Go on Judge Rinder.

puzzledpiece · 28/06/2020 14:55

You are only entitled to what you put in unless you had a contract drawn up saying you were to get market value. The problem with market value is markets go up and down. So she may give you half the current market value only for its value to drop in a years time and she sells at a loss. That's why you either have a binding contract or accept your initial payment.

DisobedientHamster · 28/06/2020 15:00

Well, if you think you're so correct about this cryptic item, then go to court and try to force her to cough up. Or put your 50% share of some item that's not even in your possession at this increased value for sale and see if you have someone willing to buy it.

zingally · 28/06/2020 15:03

Absolutely not! You CF!

You wanted out, you got out. Anything that happened after that, including a rise in value, is none of your business. She owes you diddly-squat!

DisobedientHamster · 28/06/2020 15:04

Or take the money and run; that seems the most sensible option.

SmileEachDay · 28/06/2020 15:11

When posters are all coy like this it’s invariably something really dull like a storage garage or something.

IncrediblySadToo · 28/06/2020 15:17

@zingally

Absolutely not! You CF!

You wanted out, you got out. Anything that happened after that, including a rise in value, is none of your business. She owes you diddly-squat!

What are you on about??

She wants to sell her share. She hasn't yet. She's not 'out' of anything yet.

It's worth a lot of money, why shouldn't she get what it's worth?!

DisobedientHamster · 28/06/2020 15:26

She wants to sell her share. She hasn't yet. She's not 'out' of anything yet.

It's worth a lot of money, why shouldn't she get what it's worth?!

Because a) it's worth nothing if there isn't someone to buy it. And which third party is going to buy her share of the item at this appreciated market rate if it's not even in her possession? Not much of a leg to stand on there. Possession is 9/10 of the law, as the saying goes. And b) there's no contract to cover this appreciation if one person decides they want out. Again, puts her on the back foot.

It's a lesson to learn. If you want to cover your arse against situations like this then buy with a written contract.

category12 · 28/06/2020 15:27

It's worth a lot of money, why shouldn't she get what it's worth?!

Half of it may be completely worthless to anyone else.

LegitSnack · 28/06/2020 15:30

This was annoying and pointless.

DisobedientHamster · 28/06/2020 15:31

@category12

It's worth a lot of money, why shouldn't she get what it's worth?!

Half of it may be completely worthless to anyone else.

Exactly, especially as it's not in the OP's possession. Who's going to buy that, especially at this more expensive rate? C'mon.
TinyTickler · 28/06/2020 15:37

Why don't you accept the original price, then have a solicitor draw up a declaration of trust so you get half the increase in value up to the date you sell it to your friend (Ie you don't benefit from any future increase) if / when she sells in the future?

monkeymonkey2010 · 28/06/2020 15:57

If the value had decreased, she'd know it and no way would she offer what we'd originally paid
Be prepared that if you sell it to her at the original rate - she will make thousands in profit when she goes on to sell it later on.....which she will at some point.

Maybe get some legal advice?
If she refuses to buy you out at the market rate, you retain your legal 50% ownership and if she ever sells it you get half?
Put a charge on her house for the value of the item taking into consideration future appreciation?

If she wants to be a bitch about it then you need to stand up for yourself....just cos she's used to cheating people out of money doesn't mean you have to let her do it to you too.

monkeymonkey2010 · 28/06/2020 16:00

your 'friendship' is over anyway, so i'm not sure how you'd know if she went to sell it on in the future.
i doubt she'd offer to tell you....

Euclid · 28/06/2020 16:10

OP has disappeared. The moral of the story is that anybody who enters into an "arrangement", whether a loan, a purchase like this or anything else, with a friend, family member, business associate etc should have a clear agreement in writing setting out what will happen in the event of any of the various possible scenarios (one party wanting out, interest on a loan etc).

ClareBlue · 28/06/2020 16:46

The really interesting part of this is that she bought with her boss in a market they both know well after boss morphed into a friend. Suggesting work expertise. Boss then took possession and won't let her realise the value even though boss has the goods which OP stated is part of the problem. Boss is not now a friend. I think she had been set up by a scheming boss/friend who knew what they were doing from day one. No chance of getting an amicable solution to this and Boss knows that most don't persue debts etc and take low offers to get out of the hassles. I know people like this who never pay what they should in full. They seem to get away with it too.

Yellownotblue · 28/06/2020 17:04

Is it a cat?

Is it a piano?

Is it a cat that turns into a piano?

Yellownotblue · 28/06/2020 17:05

Is it a baking tray of curly kale?

Yellownotblue · 28/06/2020 17:06

A crate of sparkling water?

Yellownotblue · 28/06/2020 17:07

Or is it just a pointless post, as OP has gone cryptic

OhhhPeee · 28/06/2020 17:15

If everyone on this thread promises to chip in and buy it off you for current market value, will you tell us what the fuck it is?

Happy20 · 28/06/2020 17:15

Something else to consider is when you sell your half to her for the original cost, she then decides to sell it and makes a huge profit off of you, leaving you no better off but her considerably.