Mortgage paid but no deeds

[classixuk]

Hi everyone, I hope you can help as I'm in a bit of a property mess. In 1990 my brother and his wife moved into a new home before their old house had sold. From his �23500 mortgage he had paid �6000 and I wrote a cheque for the remainder of �17500 to the mortgage company from my bank. 6 weeks ago he and his wife barged in and announced that it's now time to move out so they can sell the house (which is now worth �210000 because of the housing boom). I explained that I paid 74% of the original asking price with my own cash. They plan to evict my partner and I and sell the house for �210000. They say that they can do this because they own the house as their name is on the deeds. When I reminded them of the �17500 I paid off their mortgage they will give my mum �17500 (she paid my bank this amount in 1994 to clear my debt) and keep the rest to pay their own mortgage off, pay their debts off and put the rest in the bank. Where do I stand legally on this? I can prove that I paid �17500 of the mortgage by cheque in 1990 as apposed to their �6000 contribution. Surely if they sell my home from under me, I am entitled to the same 74% share I paid into it 14 years ago? But even if that is true, more importantly, I do not want to move from my home. I have offered 26% of the current market value to them but it's no good. Please help me, where do I stand legally? What can I do to keep hold of my home?

[thewillow]

Why are you wasting time asking here? Go to a solicitor immediately. You need professional advice.

[smudge]

I agree with thewillow,the situation you have found yourselves in is far too complicated for us to comment on. You must consult a solicitor immediately. Yes it's going to cost you more money, but let this be a lesson to you & anyone else thinking of entering an agreement without professional verification!

[mr gary]

there is a company in london (may have branches elsewhere) called 'THE FAMILY LAW CENTRE' they are a firm of solicitors but not like the usual ones. they are honest and will outline exactly where they think you stand and what you will stand to gain / lose. GOOD LUCK

[Sylday]

You seem to have acted very unwisely in not coming to a clear agreement with your brother when you first paid the �17,500 and moved into the property; and you will certainly have to consult a solicitor. But whatever you do, don't move out! You may have some rights of possession or residence as a squatter or a tenant.

[cheyenne]

nice brother, listen you have to get legal advice now ,not tomorrow. im afraid when it comes to making money often your relatives are the first to screw you??good luck.

[smudge]

P.S. Sorry to state the obvious here, but: 'Money IS the root of all Evil' & 'Blood is NOT always thicker than water', believe me!

[saffstar]

What an awful thing to do to someone - I wish you the very best of luck x

[secretspirit]

Yeah good luck, you've got the moral high ground so I'd gather together any evidence of how long you have lived there and see if the bank can confirm you paid that money to their building society or mortgage lender. A solicitor really will make sure you get the best possible deal and you probably do have squatters rights at least, as manky as that sounds.

[Maude]

To prevent the house being sold under you go to www.landregistry.gov.uk, Forms/Publications, then Forms from the drop down menu, and then print off Form UN 1. It is a simple form (but if in difficulty please post and I will unravel) and send this as quickly as possible with a cheque for �40 to your District Land Registry Office (this may not be the one in your telephone book - check the same website under Contact Us and then Offices (or Areas). This prevents the property from being registered in another name until your claim is settled, and thereby puts you on an equal negotiating footing with your brother. The �17500 between your mother and you is an entirely separate matter into which your brother must not and cannot be allowed to enter. From now on you must state your position in terms of shares, you having 74 shares in the property and your brother 16. You must now introduce into your position that you always believed that these shares were held as a tenancy in common. Do not deviate from "shares" and "tenancy in common".Your brother is entitled to force a sale to realise the capital from his shares, and you are entitled to purchase his shares. It is usual to get 3 valuations, to ignore the lowest and average the 2 highest to get a fair valuation. Whatever you do try to stay away from solicitors (except to change the names on the Land Certificate if you purchase your brothers shares). You will spend the next 2 years in misery and spend at least �50,000 each to get nowhere if you do not. If you require further information please post, but after you have submitted UN 1 I stress that you will be on equal negotiating terms with your brother and I do urge you again to compromise and settle between yourselves rather than even think of solicitors and courts.

[Maude]

Corection: Your brother has 26 shares.