PLEASE READ BEFORE POSTING

Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.

Does his ex get half his house even she never lived there?

12357

Comments

  • 00ec25
    00ec25 Posts: 9,123 Forumite
    Combo Breaker First Post
    Cat236 wrote: »
    Not sure exactly. So when he bought the house he lent money off his dad. In the decalartion of trust his dad gets his money back. And then owner and the occupier split the rest. 50/50.
    you do not "lent" money off someone, you borrow money off someone (sorry but that's a pet hate)

    Per your first post there is no mortgage on the property so there is no need to pay off a mortgage to an external lender before the money is split. However, what you have written does not explain if the father gets back merely the exact sum he loaned or whether he gets back that sum + some of the increased value of the property? (ie has he effectively lost out because he has given his son an interest free loan)

    you say the rest gets split 50/50 so, yes, the ex stands to get a lot of "free" money
    Cat236 wrote: »
    If he has to give her half he won't be able to buy 50/50 I would have to put up more money and I don't know how the rest would work.
    i can't see where else you can go with this thread. The declaration of trust has come to the attention of your conveyancing solicitor. The solicitor therefore has a professional duty to ensure that its terms are met. Whether the DoT can be "overturned" is a legal question you will need to ask a lawyer.

    You need to wait until Monday and get proper legal advice - if necessary seeking a second opinion from a different lawyer.

    Finding the ex so she can either be asked to agree to forgo the DoT entitlement, or to actually pay the money to her, is potentially not that difficult to do as the solicitor will doubtless have contacts with tracing agencies etc who do that sort of thing.
  • Cat236
    Cat236 Posts: 16 Forumite
    I'll definitely get the decalartion that is if we ever get to buy a house
  • Cat236
    Cat236 Posts: 16 Forumite
    The father only gets what he paid into the property. Interest free loan.
    When the money was thought to be going to just to my boyfriend we we're going to give extra money to him as a thankyou.
    Like I said I just wanted to be a little more prepared as to what will be said on Monday. Friday afternoon was a big shock for me. Thankyou for everyone's thoughts and advise.
  • ScorpiondeRooftrouser
    ScorpiondeRooftrouser Posts: 2,851 Forumite
    Name Dropper First Post First Anniversary Combo Breaker
    Is it correct that there is no mortgage? I can't see that in the first post.
  • Cat236
    Cat236 Posts: 16 Forumite
    There is a mortgage. The money he will half is after that is paid off.
    Sorry that didn't say, thought I had put all the details.
  • Red-Squirrel_2
    Red-Squirrel_2 Posts: 4,341 Forumite
    Cat236 wrote: »
    I'll definitely get the decalartion that is if we ever get to buy a house

    Sorry, but its 'declaration' as in something you declare.

    (Don't like to be the spelling police, but wouldn't want you to be embarassed if you pronounced it like that to a solicitor or the ex.)
  • Cat236
    Cat236 Posts: 16 Forumite
    Thanks, typing fast and not reading over what auto correct has done.
  • Red-Squirrel_2
    Red-Squirrel_2 Posts: 4,341 Forumite
    Cat236 wrote: »
    Thanks, typing fast and not reading over what auto correct has done.

    Thanks for not being offended! Only mentioned it because it was more than once.
  • ScorpiondeRooftrouser
    ScorpiondeRooftrouser Posts: 2,851 Forumite
    Name Dropper First Post First Anniversary Combo Breaker
    Cat236 wrote: »
    There is a mortgage. The money he will half is after that is paid off.
    Sorry that didn't say, thought I had put all the details.

    I assumed there was, it's just that a poster above said there wasn't.
  • 00ec25
    00ec25 Posts: 9,123 Forumite
    Combo Breaker First Post
    ScorpiondeRooftrouser wrote: »
    I assumed there was, it's just that a poster above said there wasn't.
    that's because the first post says his father went down as lender and so I'd assumed there was no mortgage lender as well. Just another instance of posts which miss out key details and then drip feed them in subsequent ones
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.1K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.6K Spending & Discounts
  • 235.2K Work, Benefits & Business
  • 607.8K Mortgages, Homes & Bills
  • 173K Life & Family
  • 247.8K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards