Hi,
My son was in a de facto relationship for 4 years, 2 years cohabitating, bought a house together 1 year ago. Both names on the mortgage. Now she has ended the relationship, they have agreed to sell the property and split all assets 50/50. My son has just moved out as he feels uncomfortable as she is bringing her new partner to the house.
My son just wants out, to sell the house to cover the cost of the loan, real estate fees/commission and conveyancing. They had received an offer to cover these costs but she declined that offer without my sons knowledge. Now she has priced the house unrealistically high with the real estate. Now our worries:
Since they have separated, they had agreed to pay for all bills associated with the house 50/50 while he was living there. She was not always able to do this so my son covered her shortfall. From this point on his is paying his half of the mortgage repayments, house insurance and rates.
What happens if she fails to pay her half?
What happens if they don’t come to an agreement on the price to sell?
Can she stop him from going to the house to see their dogs? Or to maintain the house?
What should he do to protect himself as he doesn’t want to default on the loan and get a bad credit rating?
Any help would be greatly appreciated.
My son was in a de facto relationship for 4 years, 2 years cohabitating, bought a house together 1 year ago. Both names on the mortgage. Now she has ended the relationship, they have agreed to sell the property and split all assets 50/50. My son has just moved out as he feels uncomfortable as she is bringing her new partner to the house.
My son just wants out, to sell the house to cover the cost of the loan, real estate fees/commission and conveyancing. They had received an offer to cover these costs but she declined that offer without my sons knowledge. Now she has priced the house unrealistically high with the real estate. Now our worries:
Since they have separated, they had agreed to pay for all bills associated with the house 50/50 while he was living there. She was not always able to do this so my son covered her shortfall. From this point on his is paying his half of the mortgage repayments, house insurance and rates.
What happens if she fails to pay her half?
What happens if they don’t come to an agreement on the price to sell?
Can she stop him from going to the house to see their dogs? Or to maintain the house?
What should he do to protect himself as he doesn’t want to default on the loan and get a bad credit rating?
Any help would be greatly appreciated.