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Costs of rented common house / joint mortgage
#1
We have a house in south of UK "Tenants in common"  60:40 share to me
I've offered to buy her share as i don't want to continue a joint mortgage with her... i want a clean break (we were not married so no divorce to sort out the finances) ... she wants to stay on joint mortgage ... you can see the obvious risks eh?

We rent it out (as its not where we now work) but recently it needed some repairs to make it attractive to the next tenant 

We have both agreed the repairs but ex is refusing to contribute to the costs of those repairs

What to do... anyone experienced similar?
"Being a good father, for its own sake, does not require your ex to see it or agree"
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#2
(10-18-2017, 11:16 AM)LTCDAD Wrote: We have a house in south of UK "Tenants in common"  60:40 share to me
I've offered to buy her share as i don't want to continue a joint mortgage with her... i want a clean break (we were not married so no divorce to sort out the finances) ... she wants to stay on joint mortgage ... you can see the obvious risks eh?

We rent it out (as its not where we now work) but recently it needed some repairs to make it attractive to the next tenant 

We have both agreed the repairs but ex is refusing to contribute to the costs of those repairs

What to do... anyone experienced similar?

Not first hand experiance, so check this out, but my take on this, is that this 60/40 relates to net Profit.

If her name is on it, she has to pay her share of the monthly payment.

However, distrubution of the Income from it, should only happen once any costs have been paid.
Posts made by me are my opinion and any factual information should be checked out. If you do not have a Solicitor, often your local CAB can get you some initial advice.
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#3
Exactly but issue at the moment is the house is empty... does not have a tenant in it so there is no 'profit'

in order to make it rentable ... it needed a small makeover ... which is a cost

But she is refusing to pay... i guess I can withhold any profit from her until bills are paid
"Being a good father, for its own sake, does not require your ex to see it or agree"
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