My only asset was the heavily mortgaged house I own in joint names with my wife.
In November 2008, the Joint Trustees successfully applied to Court for possession and sale of the property.
A survey was done immediately, which valued it at £220,000
In May 2009, the Joint Trustees wrote to me with this information, adding that they are prepared to accept £5,000 in settlement of the beneficial interest of the Trustees. This did not include any allowance for the fees involved in the potential sale.
I offered them £1,500 in Full and final settlement, which they have rejected.
Nothing happened in the interim until November 2011, when they wrote to informed me that they have received an up-to-date valuation putting the house at £235,000.- They have therefore calculated their 50% share totals £15,442. Unless an adequate proposal is received 21days, they will consider enforcing a sale on the open market.
This morning I received a Notice of Eviction from Court, stating eviction at end of June 2012!!
I intent to appeal to court on the grounds of LEWIS v METROPOLITAN PROPERTY REALISATIONS LIMITED
Any has this experience? Your much needed guidance PLEASE… Many thanks.