Buying a share in a BTL

[sackofspuds]

Posted in the Property Investment Discussions about buying a 50% - 60% share (without a mortgage) in a friend's BTL terraced house.

Any legal issues I should be thinking about?

I guess we need to be aligned as to how long we each wish to keep it for.

Presumably there isn't a lot to prevent either party selling on their share but it would be a difficult sell I guess. Would we need a legal agreement to give the other shareholder first refusal? My first thought is that if one party wanted out we'd just sell the whole house.

Would I be up for the 2nd house stamp duty on buying a share of a 2nd house?

Is this just a dumb idea full stop? Bound to end in tears? Reminds me of the kind of thing you hear about on Radio 4 Moneybox or whatever that has gone terribly wrong and has me yelling at the radio!

The post is here:
viewtopic.php?f=13&t=14970#p183408

[k333]

I think you've nailed it there - this is a dumb idea full stop. Of course the original dumb idea was your friend letting the property instead of selling it, and keeping things nice and simple (but there maybe were circumstances that I don't know about, like the state of the property market).

- K

[PinkDalek]

Posted in the Property Investment Discussions ...

The post is here:
viewtopic.php?f=13&t=14970#p183408

I think you've nailed it there - ...

The Topic continued over at Property Investment Discussions:

viewtopic.php?f=13&t=14970