My niece and her partner bought a house together, they split up and were in the process of selling. It appears that he has absconded leaving a mountain of debts and my niece in a bit of a sticky situation. I understand that she now can't sell but where does she stand legally? She thinks her best bet is to go bankrupt! Any advice please?
2007-02-12 00:57:23 · 9 answers · asked by soul_lovesearcher 1 in Business & Finance ➔ Renting & Real Estate
Legally she can't sell the house without him being here. There is a possibility that he has fled to Thailand!
2007-02-12 01:20:48 · update #1
Tell her to try and cover the mortgage repayments - don't speak to the mortgage people before she speaks to a solicitor. (The mortgage people will want to reclaim the house and sell it - they may not sell it for it's full asking price and she will be responsible for the balance).
She really needs to act fast.
2007-02-12 01:40:59 · answer #1 · answered by Curious39 6 · 0⤊ 0⤋
Don't understand why she can't sell unless the house is in both names. Don't ask for advice like that on these sites. She needs a lawyer's advice. Never consider bankruptcy until all other avenues have been exhausted. Again, an attorney can better explain that. Her partner was only a partner and not a spouse. Men and women don't marry for reasons of lack of responsibility and commitment. That lack of responsibility and commitment has bit her in a bad way. By not being a spouse, it is possible the attorney will not be able to do anything.
2007-02-12 09:17:39 · answer #2 · answered by ThePerfectStranger 6 · 1⤊ 0⤋
If the deed is in both names, she cannot sell without his signature. If the loan is in both names, or hers alone, she's stuck for the payments and needs to continue making them.
Legally, I don't think she can even sign a lease with someone without his signature if the house (deed/title)is in both names, but that still might be her best bet. Or get a friend to move in and share the expenses.
If he cannot even be found, then maybe there is a way for a lawyer to get his name off the title. i don't know if it's possible, or how much that would cost, or how long the courts would require waiting and looking...
Here's a note on a different kind of real estate problem, but a "missing" owner is one of the reasons that a lease-purchase, or lease-to-own, or contract for deed is not a good way to buy a house.
2007-02-12 10:21:43 · answer #3 · answered by teran_realtor 7 · 0⤊ 0⤋
Why cant she now sell the house? Selling the house would be a good move as she could pay off all the debts.
She should seek some advice as if the debt is actually half his, she should be able to claim something back from him through the courts if she can prove he was to blame for it also.
I wouldnt advise her to go bankrupt, she would be left with nothing after they've paid her debts with the equity in her house, and have a lot of trouble buying another one in future.
2007-02-12 09:06:36 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Bankruptcy is the worst thing she can do. Bad credit would then stay on the records for at least seven years. She should call the nearest lawers' referral service and get a lawyer who specializes in real estate law. There may be a way to sell the property without the deadbeat.
2007-02-12 09:02:07 · answer #5 · answered by regerugged 7 · 3⤊ 0⤋
I think that you need to see a lawyer first and go from there... Since her bf jumped ship and no longer there I think that they can get around that but I don't know the proper procedure... I know when I left my fiance he asked me to sign over our house... Maybe you can have your niece do that.
Bankruptcy will hurt your niece even worse down the line with future creditors so I would definitely seek additional help
2007-02-12 09:25:56 · answer #6 · answered by De 5 · 0⤊ 0⤋
I'm afraid I don't know, but would advice her speaking to her local Citizen Advice Bureau, Law Centre or get a lawyer's advice.
Going bankrupt can have serious implications in the future, and I wouldn't recommend it.
2007-02-12 09:01:24 · answer #7 · answered by ஐ♥PinkBoo - TTC #1♥ஐ 5 · 2⤊ 0⤋
Did they purchase the house as "joint tenants" or as "tenants in common"?
The distinction is essential in determining whether she can sell without the other owner's permission.(Subject to the Court's approval)
Is the mortgage in joint names?
Is there an agreed split of ownership registered on the Land Certificate?
2007-02-12 17:37:38 · answer #8 · answered by Do not trust low score answerers 7 · 0⤊ 0⤋
She has options. Tell her to get a lawyer ASAP before the the sale of the house is final.
2007-02-12 09:00:32 · answer #9 · answered by Anonymous · 3⤊ 0⤋