My Mum who now lives with me in Australia bought a house in Spain with her ex partner; both their names are on the deeds as 50/50. Does she have title to 50% of the property value and can she force a sale to recovery her half share. Regards
My Mum who now lives with me in Australia bought a house in Spain with her ex partner; both their names are on the deeds as 50/50. Does she have title to 50% of the property value and can she force a sale to recovery her half share. Regards
Dear Duncan
Your Mum is entitled to 50% of the value of the property. If she was to realize this should would need to:
- Agree with her ex-partner to put the property for sale. This is the best option because you would be able to sell at market price, even if it is currently low.
- If the above is not possible, she can force the sale through the Courts. This option is the least recommendable because the property would have to be sold at public auction and the price achieved would never be market price but a rather lower figure (perhaps 50%).
- A third option is to get the ex-partner to take over the property from your Mum, against payment of a pre-agreed compensation. This would attract a mere 1% Stamp Duty and some fees (notary, legal and land registry).
Should you wish that we help you kindly advise.