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Reference no: EM133800000

Cross Street

Denver and his brother, Watson, purchased an investment property in Sheffield together in 2005, which they have since rented out to students. They purchased the property for £200,000, with Denver contributing £50,000 and Watson contributing £150,000. Denver did not wish to be named on the legal title at that time, for reasons which are not relevant here. As a result, the property was registered in the sole name of Watson. Both Denver and Watson were preoccupied with personal matters at the time of the purchase and did not discuss the ownership of the property, nor did they complete any paperwork regarding how they owned the property as a result of their contributions.

In 2010, Denver paid £10,000 for some repairs to the property. During this time, the property was not rented out and Denver paid the utility bills in full for 6 months, amounting to £8,000. Following a family argument, Denver and Watson are now estranged. Watson is in the process of selling the property at its current value of £300,000 and Denver wants to know what interest, if any, he has in the property and what he is entitled to financially, if anything, from the sale.

 

Reference no: EM133800000

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