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Given the very high property prices these days, more and more people are buying properties jointly, or with the help of others, whether they are in a romantic relationship or not.
However, what happens if the relationship breaks down or some owners want to sell and others do not? There may then be a dispute over what happens to the property, and even if it is sold, a further dispute may arise as to how the proceeds should be divided.
Issues that can occur in co-ownership of property disputes
Disputes can occur for a number of reasons, including:
- The property is being purchased in the name of one person even though another contributed to the purchase price, the mortgage or repairs to the property. This could have been on the ‘understanding’ that they would get a share of the property, which one party may deny when the property is sold.
- It’s more common nowadays for purchasers to receive a cash sum to help them buy their property – particularly with first time buyers. It may be that you gave a cash sum as a deposit to help a child or friend purchase a house on the ‘agreement’ that you would own a share of the property or receive the money back when the property was sold. If when the house is sold the owner denies the agreement, we can help resolve the issue.
We are very experienced in advising individuals as to their rights in relation to disputes over the ownership of properties and will seek to resolve matters as quickly and cost effectively as possible, whether it requires Court proceedings or not.