My fiancee has a property with an ex-partner of 6 years and has been under the impression she was taking the property over, however in this time it has decreased in value and now can't afford it and is seeking money.
The property has dropped 50k (apparently) and her parents went guarantor for roughly 100k. If the property is forced sold is the guarantor responsible for the shortfall or does this get split between the owners?
She has also claimed her legal advice was that if we pushed for the forced sell, we would be left with a bigger % of the 50k shortfall because we are in a partnership earning money while she is younger, studying and only working part time. Surely this isn't the case under Property Law?
The property has dropped 50k (apparently) and her parents went guarantor for roughly 100k. If the property is forced sold is the guarantor responsible for the shortfall or does this get split between the owners?
She has also claimed her legal advice was that if we pushed for the forced sell, we would be left with a bigger % of the 50k shortfall because we are in a partnership earning money while she is younger, studying and only working part time. Surely this isn't the case under Property Law?