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Tenants in Common split question

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me_at_work
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REPLY QUOTE Posted :
Subject: Tenants in Common split question
I hope someone can help . . . .
I bought house with family member 4 years ago and am thinking that living together has run its course.
We have a legal agreement that confirms that I put in �67,000 deposit and the remaining mortgage is paid 50/50 but now I'd like to know my options.
Based on current house market prices and the outstanding mortgage we would stand to make approx �40,000 profit (before fees etc) if we sold the house however I am able to take on the whole mortgage and would prefer to do this than sell up but do I have to pay off family member even though the "profit" wouldn't cover the deposit I put in.
Anyone help ?
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Deleted User
REPLY QUOTE Posted :
Subject: Tenants in Common split question
Think you'd need a lawyer on this one, or could the Citizens Advice Bureau over there help out?
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