Mortgage and Splitting up?

Hi





I bought a flat with my boyfriends a year ago, and I want to split up with him, I dont know how this is possible though as I cant afford to move out and neither can he - infact he wouldnt leave anyway.





we nearly split about 4 months ago buy i went back as I had no option, We can't sell the flat yet, ( apparently u haver to wait a few years or something??) and even if I could sell the flat he wouldnt agree to it, he told me last time he wouldnt let me sell it and would make it hard for me





Do I have any options? or doI have to just stay in the relationshipMortgage and Splitting up?
no you dont have to stay in the relationship. You can either sell it (not sure why you are saying you have to wait a few years, not sure where you live) and make him buy you out of it.Mortgage and Splitting up?
As for the b/f... what a tool. You can certainly leave the realtionship.





If he's not willing to sell, is he willing or able to buy you out of the house? if not, this is real simple. Go get an attorney. This guy is a real idiot. Make sure the mortgage is up to date, even if you have to pay the whole thing yourself just to keep it current and keep your credit solid and then sue this guy for all the payments you've made and to sell it.
my peers are right on.





YOU DID not volunteer what your ideal situation


would be! OF course, you can sell but


all real estate prices are based on what a buyer will pay. You do not need permission to sell


your part of the property.





There are joint and tenants in common types of deeds but it does not matter if you want out.





Without telling your friend you may sell


YOUR HALF of the property but ONLY ONE half!





The benefits of getting out, other costs,


costs of living, etc. I can't advise you on.
You can rent it out. The 2 yrs question is it related to Capital Gains? I know in the US, the 2 year period reduces the tax rate.
you do not have to stay in the relationship as it is.you can sell the property at any time by going to court to force your boyfriend to sell or buy you out. as for the tax consequences the rule is(for a tax free sale)that you must own the property for two years before selling.but remember that you only pay the tax on your share of the profit,and with the short time you have owned the property and the lack of equity your profit should be low.and the taxes would not be to bad.