Does my mother in law have the right, as the major shareholder, to force her daughter to put the property on the market?
Posted on 21 October 2007
My mother in law purchased a £120.000 property with her daughter after her husband died. My mother in law paid 60% cash outright and sister in law has a mortgage for the remainder. They are now not getting along and the daughter is being mentally abusive towards my mum in law - effectively forcing her out of her own home.
She does not want to leave the home but is willing to rent elsewhere to get away from her daughter until the property is sold. Does my mother in law have the right as the major shareholder to force her daughter to put the property on the market?
She is worried if the moves out and rents another property that the daughter will refuse to move. She cant afford to rent until she gets back the money she has tied up in the property but we are willing to help her financially until this time. Her daughter is stating (without advice) that she can not be forced to sell and her mum with have to "buy her out" but she is asking an unreasonable price. She is suck in an awful situation and we don't know the basics to begin to help.
Your Mother in Law should enlist legal advice immediately. A solicitor will be able to tell her what rights she has to ask for compensation or rent, and they will also be able to mediate a discussion on fair sale price.
Katie.
Category: Legal matters
Answers provided in response to Ask Bea are based on the information provided and do not constitute advice under the Financial Services & Markets Act. They reflect the personal views of the authors and do not neccessarily represent the views, positions, strategies or opinions of Charcol Limited. All comments are made in good faith, and neither Charcol Limited nor Bea will accept liability for them.
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