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advice please -
05-06-2008, 05:27 PM
I hope I am posting this in the correct forum if not I apologise. I have several properties owned as tenants in common, we have quite a few, and naievely no partnership agreement( I know it was stupid but things moved so quickly).
We are currently solvent and receive a reasonable, if small rental income. We are however, my partner and I(business not marital), going in opposite directions. With current lending criteria either of us would struggle to buy each other out, so if we are determind to split things up, how do we stand? ie one not wanting to sell, agreeing on who gets what etc We have also put amounts in to bolster running costs with only personal bank statements to prove it. These amounts are not equal so again what happens there? All advice gratefully accepted! |
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