Hey guys, Anyway, I have the biggest problem I have ever faced in my life. I feel like I've been conned in a way that I never thought possible, and by a good friend. Basically I invested 25% of a flat's value (this in Edinburgh, UK) by buying it from a friend. We drew up an agreement, we had witnesses from both ends. We all thought everything was fine. It is common for this to be done in the UK, shared ownership like this. Me 25%, him 75%. The flat was meant to be renovated, this was meant to happen by November. It is now March, still has not happened. My name isn't even on the registry, it's not recorded as being my property. In addition, I find out he has a mortgage for the flat. I was under the impression that he fully owned the flat. I'm now thinking that I've been conned out of this money. He sometimes pays me small fractions of money for rent, but even this has now stopped. We rent the flat out to 4 people plus him, you see. He is difficult to get in touch with as well. He doesn't have a mobile phone and his phone line has been cut off. He has made up excuses, but I don't believe them. The only way I can see him is by waiting outside his door for hours... he promises to do things but doesn't do them. He is unreliable and I suspect now that he might have developed a drug problem. This all from a good friend that I've known for years and years. I want the flat sold, I want my money back but I don't know how to go about it. Does anyone know anything about British law? I also have no money, I am going to have to drop out of university just so I can pay my rent. This is extremely depressing, and am finding it hard to get by each and every day. I just can't believe this has happened. I've sold all my stuff on ebay, all I'm holding on to are my computer, clothes that will not sell, and my precious Hakeem Olajuwon jersey from 1996 and a Holland soccer jersey. Other than that I've sold everything. I've done jobs in random places, trying to work around my studies. But now the different between what I owe and what I can realistically make it is too big. I don't know what to do. I wake up and think about money, I go to sleep and do so as well. I also have to deal with a custody battle between my parents, my dad losing his job (meaning he can't send me as much money), and a hectic schedule at university. I try to get on with it, thinking things could be worse but am having difficulty doing this. Advice?
Oh, by the way... the reason I didn't have a copy of the registry is because I met him at the damn office and he had the paper on him, with an official print of receipt and everything. I check later to see if I'm on it, and I'm not. He says it's because there was an administrative error. Riiight. He basically went through a lot to trick me... be at the office, have the proper papers with official lettering and stamps... I mean did he order them and then replace the document with one with my name? Basically I'm trying to say that I wasn't a complete idiot in thinking that this was real...
So, is your name on any document? Do you have in your possession or get ahold of any such document? Did you give him cash, or use some sort of traceable transaction? Regardless of all this, it doesn't sound to me like the answer to your flat question is the answer to your money troubles. If he's not going to give you your money willingly, you may be able to force him with the law, but it'll be a little while before you see any of it. You'll need to do something else in the meantime to solve your cash flow problem. I assume we're talking about a considerable amount of money, since it is real estate. Honestly, I'd say you need to talk to a lawyer about your options. That may cost you more money. But, that's likely your best option. A distant second being to beat the crap out of the guy.
Sorry to here about this...I hate to say this, but you should probably forget about this money as you will probably never see any of it...If he is into drugs or up to no good, the money is spent and you are probably not the first person he's done this too... I know it's easier said than done, but try not think about losing the money or you will go crazy...Remember, things happen for a reason and good things happen to good people...
If he's into drugs, you'll never get a pence out of him because he won't have one until long after he's cleaned up. If he's screwing his friends for cash, he's in a real spot of trouble and probably isn't too far from the streets himself. The best thing you can do is confront the guy and try to get him to get himself well, and if that doesn't work just cut yourself loose of him and the money. I know that sounds like a terrible option, but sad to say, it really is the best one. You're in a jam right now, but it's something you can still get out of if you bust your ass. You're going to probably have to work really hard at a $hit job to get back where you want to be, but that's how it goes sometimes. Forget any ideas about a "quick fix" to your situation and just lay your nuts to the grindstone and grit it out until you're back in shape. Could take a year, could take more, but it's better to get started now than to beat yourself up trying to get money back that isn't there. That, or get an ugly girlfriend who will house and feed your a$s out of gratitude.
I have a document which we both signed, with the property agreement... the transfer of funds was done via bank transfer. The legal problem is exactly what I'm worried about... what really gets to me is that I might have to drop out of university just to get a few hundred bucks to pay my rent. It's just a depressing thought. I don't know how to go about this now... I know he at least owns a flat which has value. Enough which could probably get my money back from that. I have seen the documents which have his name and I know how much he has paid off. I'm guessing what I need to try and do legally is get him to sell the flat, from which he can pay me.
Ace, it seems to me like your purchase of the share of the flat was a bit shady -- I don't mean wrong, but too informal. I'm sure England works in much the same way as the States in that they are very meticulous in the handling of real estate. Closing on a sale will cost a couple thousand dollars with all the various bureaucratic things you need to do. Correct me if I'm assuming too much thinking that you skipped all that. Again, I'm talking out of almost complete ignorance here (not knowing the country or its laws), but it doesn't sound like you have a claim on the property itself. He may still be liable to you for stealing your money though, so I think a talk with a lawyer may still be worth your time.
As it was posted before, I would see a lawyer to, at the very least, answer your legal questions. There are a few attorneys on this board, but I assume few are familiar in British property law. If you are strapped for cash, there may be an indigent legal services center in your area, or even at your university. As a student, I once utilized the Univerisity of Texas legal services center. You mentioned there were witnesses to your transaction. I think, at the very least, you have a cause of action for conversion of your property (i.e., your money) if he took off with it for his own personal use.
The world would be a better place with more of you in it... Seriously man, I wish I knew something that could help you. The only thing worse than getting conned out of your money is to be conned by a "friend." I know it doesn't mean much, but I'm really sorry, man.
