Party to Trust Deed lets-out premises and retains rent

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    Party to Trust Deed lets-out premises and retains rent

    can anyone answer my question ? I hold a deed of trust on a property i had with my X partner after a bad split he refuses to give me any profits from the rents that are being taken,i am on the tenancy agreement as landlady as well as himself,what are my rights as a landlady under these circumstances,does anyone know? HELP

    #2
    Please clarify.
    1. Are you the sole owner, registered at HMLR?
    2. What does the Trust Deed say about rents and profits?
    3. Is the 'partner' letting-out but using your name?
    JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
    1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
    2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
    3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
    4. *- Contact info: click on my name (blue-highlight link).

    Comment


      #3
      Deed of trust

      Hi the property is in my x partners name, i am on the land registry,the deed of trust states that at the sale of the property he will get his initial monies back and i will get 50%of any profits from the sale. and monies accured during the course of the time before it is sold ,there are tenants in there now which i sorted out,with both our names on the tenancy agreement.All the time there was a shoftfull in the morgage i paid him to top it up now he is making a profit he will not give me anything.I hope this makes sense Thank you

      Comment


        #4
        Originally posted by terrichoc View Post
        Hi the property is in my x partners name, i am on the land registry.
        No. Only one of those two statements can be true!
        JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
        1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
        2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
        3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
        4. *- Contact info: click on my name (blue-highlight link).

        Comment


          #5
          Deed of trust

          my x partners name is on the morgage,i have a retriction on the land registry.

          Comment


            #6
            Originally posted by terrichoc View Post
            my x partners name is on the morgage,i have a retriction on the land registry.
            1. So X owns the property and is named on the Proprietorship Register.
            2. Against it is a Restriction reflecting the Trust Deed in your favour.
            3. You state that, under the Trust Deed, you will get 50% of any profits from the sale and monies accrued...before it is sold.
            4. So you as beneficiary can force X to account to you for such income.
            5. But why are you shown as L on Letting Agreements, given that you are not the legal owner? I'm baffled.
            JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
            1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
            2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
            3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
            4. *- Contact info: click on my name (blue-highlight link).

            Comment


              #7
              Help

              Hi Jeffrey, it is a bit complicated, when we were together he wanted me to find a property to invest his money,i was to look after it i decorated and managed the property i also paid shortfall in the mortgage when it wasn't fully covered by the tenant.then the relationship broke down by him having an affair,unbeknown to me the mortgage dropped considerably which he did not tell me about i then sorted the new lodgers out and my name was still down as joint landlord, since then he will not tell me any info about monies for the flat and his keeping all profits.As you might understand i am angry about this that is why i would like to know were i stand legally.Thanks for your help so far.

              Comment


                #8
                Sadly, I feel that none of us (you, I, other members posting in this thread) yet fully understands the position. You do need detailed advice from a solicitor apprised of everything relevant to your case, or else I doubt that you'll ever resolve it satisfactorily.
                JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
                1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
                2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
                3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
                4. *- Contact info: click on my name (blue-highlight link).

                Comment


                  #9
                  Originally posted by jeffrey View Post
                  Sadly, I feel that none of us (you, I, other members posting in this thread) yet fully understands the position. You do need detailed advice from a solicitor apprised of everything relevant to your case, or else I doubt that you'll ever resolve it satisfactorily.
                  I don;t see this as quite so complicated as is being made out.

                  For the purposes of the OP's question, I think the OP being named as a LL on the tenancy agreement(s) is a red herring - so long as the legal/true LL is also named on it.

                  Jeffrey has answered your question re the account of profits due to you as per the terms of the trust deed.

                  You (the beneficiary) now need to enforce that trust against your ex (the trustee). For this you may need to take him to court and to do that it is recommended you instruct a solicitor.

                  Going to court can be expensive, so it depends what losses you estimate you have suffered which will determine whether it may, emotions aside, be financially worth the time and effort. These are all things a solicitor will advise you on.

                  I would recommend you shop around for a solicitor - their first introductory meeting where you can explain your situation is often free.

                  Comment


                    #10
                    Have you got the answer

                    I have a flat with my X partner i have a deed off trust on the property and it was solely as a business deal i was always down as the landlady and him as the landlord the last time the flat was rented by an agent the tenancy agreement and deposit was put solely in his name even though iwas named on the tenency agreement the agent did nt even make sure i signed it how do i stand with all this can they just take me off as landlady

                    Comment


                      #11
                      First: in whose name or names is the flat's legal ownership?
                      JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
                      1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
                      2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
                      3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
                      4. *- Contact info: click on my name (blue-highlight link).

                      Comment


                        #12
                        Three threads by the same member have been merged here. Please do not start a new thread if you merely wish to continue a previous discussion or report on subsequent developments. It can cause unnecessary confusion (quite apart from losing the connection with facts previously established or legal points previously explained).

                        Comment


                          #13
                          terrichoc: What happened during the five-month gap between post #9 and post #10?
                          JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
                          1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
                          2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
                          3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
                          4. *- Contact info: click on my name (blue-highlight link).

                          Comment


                            #14
                            I went into a business partnership with my X partner i it was the arrangment that i would find the property redecorate it and oversee everything we have always been jointly on the tenency agreements the agent has just removed me from everything .He is the sole proprioter on the deeds, i have a charge on there,It does state on the deed of trust that at the point of sale i get 50% of any profits,but surely they just cant remove me like that and also am i intitled to any rental income?and interest? and as it was a business deal can he just renade on this? Thank you so much for your help,i feel so frustrated that he and the agent can just do this .

                            Comment


                              #15
                              sorry jeffrey! i mean that i have a resriction on the land registry thats what i meant when i said i was on the land registry.

                              Comment

                              Latest Activity

                              Collapse

                              Working...
                              X