Disagreement on investment: what to do ?
My wife wants to invest in a property to let, and I do not want this. We are both pretty firm in our point. She does not want a compromise like a cheaper rental, but instead says that in case I do not want to join she will manage by herself. As we are married in joint possession, I have a hard time figuring out how one of us can do this on his/her own, and whether such bigger investments should be done only under mutual agreement. We are stuck in discussion. What can we do ?
Presuming she'd be using joint marital money, an "Aye" has to be unanimous for the plan to get given the Green Light by the 'committee'. That's democracy for you. And democracy applies to a sub-society (of two) as much as the main one. So the "Nay" has it if your Nay concerns usage of the marital joint funds.
She may not like it. But I'm sure she likes it whenever it serves to protect *her* so...she can't have it BOTH ways. And if she were to go ahead and invest money that isn't solely hers, *without* your rightful say-so thus in contravention of a Red light, she would immediately be giving you sound grounds for divorce (unreasonable behaviour plus financial abuse) (just saying).
If you've offered her HALF of what she wants, rather than nothing, then she should jump at that chance (if she's got any sense).
Stick to your guns.
Plus if you're novice landlords then it would be mightily financially foolish to bite off more than you've ever practised chewing. Saying that, rental properties *are* in demand, thanks to the recession, etc. so it could well be a sound investment move. But - interestsratescangodownaswellasupyoumaybeatriskoflosingyourhouseintheeventofnon-payment,terms&conditionsapply.
It's gambling, Jim, just not as we know it.