Q:Need Tenants in Common explained PLEASE, particularly if A wants to sell but B won't. Let's say they each own 50%.
Can A sell his/her "half" of the house only? Surely the estate agent would laugh at somebody trying to sell "half of a house"? And any potential buyer would be getting a hostile co-owner which would make selling almost inpossible.
Does A have to go to court? Does he/she need B's signature to sell his/her half of the house – even if that's possible?
What if B is ordered to buy A out but can't?
Thanks for any info.
Marty
Co-parenting NightmareA:It IS unthinkable, but Google has failed me too!
Marty
Quotes Of InspirationA:This trick is an old one and is one to watch out for……
Let's see if any of our property experts here know what it is.
Have you kept us in suspense long enough yet? I bet your dying to let us all know how clever you are.
I don't claim to be a property expert but google has failed me on this one.
Owner Finance EbookA:Oh Mugwump – you've muddied the waters even more.
Marty
How to buy owner financed homesA:One intriguing question (or 2).
Would the new owner have the right to live in the house? or even charge the current tenant rent for his/her half if they did not move in?
Co Reg MasterA:Yes, unlike joint tenants, someone with a tenancy in common doesn't need the other tenant/s permission to sell their share. Obviously it's not as easy to sell as a whole property, so you would generally find that you would not get as much for your share as it is actually worth. One obvious solution is for the existing tenant to buy you out, but presumably you have explored that option?
I am not sure what the scam is but I would imagine that someone might buy a share of a tenancy in common cheaply at auction, then offer to buy out the remaining occupier, that way they'd have bought a whole house at quite a discount.
For Sale By Owner Help.A:Will try Shelter and I'm intrigued by the &
quot;scam&
quot;. Wonder if anybody knows what it is?
Thank you, Marty
Easy Ferret Care: The Ultimate Owner’s GuideA:One half of the &
quot;tenants-in-common&
quot; can sell their share independantly of the other and while you don't see them advertised in estate agents windows there is a fringe market for these types of shares in property.
They are often sold at auction and there is one particular scam to be aware of
This trick is an old one and is one to watch out for……
Let's see if any of our property experts here know what it is.
50 Kit Home Owner Builder Mistakes and How to Avoid ThemA:Don't know the answer but try the Shelter website. Lots of good legal info.
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