My ex-partner & I jointly own a house & he would like to buy me out.
The title deeds are a 50% split, so he should be buying me out at 50%.
I can't afford to buy him out, but he doesn't want to sell, whereas I do.
We are in a part of Scotland (Edinburgh) where properties sell for significantly more than the home report value (usually 10-20%).
The house has been valued by a surveyor for mortgage purposes, and ex-partner wishes to buy me out based on that figure.
I feel there should be some compensation for what would have been achieved on the open market - so to add some extra for me -is this unreasonable? And the way the courts would look at things?
He put in significantly more of a deposit than me (although there is no agreement in place) & would take me to court on the sale proceedings based on that.
I would be happy to subtract our respective deposits from the sale price (even if there is no agreement in place) and divide the equity remaining equally, which I think is fair.
But being bought out at the basic valuation leaves me in the worst possible situation.
Any advice or thoughts?