Really good opportunity that unfinished business may ruin.
Helpmeifyoucan
Posts: 14 Forumite
Hello,
Please would anybody be able to/mind giving me some advice?
My ex partner and I are tenants in common on our property that I am am occupying with our 11 year old son. We both own the property.
My uncle sold me the property at below market price to avoid capital gains tax (I didn't even know what this meant at the time, I was young). It therefore appears that my ex put in 50% more deposit.
He has rarely worked since I have known him. He wasn't working when we took the mortgage out but we got it on the strength of my ability to re-pay. He has paid virtually nothing towards anything in the property/mortgage and I have had a child maintenance claim running against for years- whereby he has also paid virtually nothing.
My ex partner moved out 7 years ago. On paper it appears that he paid £28k to my £14k. I have paid for and refurbished the property- at least £10k's worth.
We (my family) want to avoid going to court, we think (for obvious reasons).
The other thing- I'm due to come into some money than will potentially mean I could be mortgage free. I need to sort this situation with my ex or he may stand to gain ever more than I feel he deserves from a moral viewpoint.
What claim might my ex have in this situation pls? How's can I get out of this mess- does anyone have any bright ideas pls? We were never married.
Many thanks all
Please would anybody be able to/mind giving me some advice?
My ex partner and I are tenants in common on our property that I am am occupying with our 11 year old son. We both own the property.
My uncle sold me the property at below market price to avoid capital gains tax (I didn't even know what this meant at the time, I was young). It therefore appears that my ex put in 50% more deposit.
He has rarely worked since I have known him. He wasn't working when we took the mortgage out but we got it on the strength of my ability to re-pay. He has paid virtually nothing towards anything in the property/mortgage and I have had a child maintenance claim running against for years- whereby he has also paid virtually nothing.
My ex partner moved out 7 years ago. On paper it appears that he paid £28k to my £14k. I have paid for and refurbished the property- at least £10k's worth.
We (my family) want to avoid going to court, we think (for obvious reasons).
The other thing- I'm due to come into some money than will potentially mean I could be mortgage free. I need to sort this situation with my ex or he may stand to gain ever more than I feel he deserves from a moral viewpoint.
What claim might my ex have in this situation pls? How's can I get out of this mess- does anyone have any bright ideas pls? We were never married.
Many thanks all
0
Comments
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You'll get better responses if you raise this on the main mortgage board, there are a lot of factors to consider. TBH, you will probably want to consult a lawyer in any case, even if you're keen to avoid court.0
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Regardless of what it was sold for, CGT should have been based on market value not on sale price, so your uncle committed tax evasion if he made a false declaration.Helpmeifyoucan wrote: »My uncle sold me the property at below market price to avoid capital gains taxI am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
You may wish to acquaint yourself with Jones v Kernott;-Helpmeifyoucan wrote: »Hello,
Please would anybody be able to/mind giving me some advice?
My ex partner and I are tenants in common on our property that I am am occupying with our 11 year old son. We both own the property.
My uncle sold me the property at below market price to avoid capital gains tax (I didn't even know what this meant at the time, I was young). It therefore appears that my ex put in 50% more deposit.
He has rarely worked since I have known him. He wasn't working when we took the mortgage out but we got it on the strength of my ability to re-pay. He has paid virtually nothing towards anything in the property/mortgage and I have had a child maintenance claim running against for years- whereby he has also paid virtually nothing.
My ex partner moved out 7 years ago. On paper it appears that he paid £28k to my £14k. I have paid for and refurbished the property- at least £10k's worth.
We (my family) want to avoid going to court, we think (for obvious reasons).
The other thing- I'm due to come into some money than will potentially mean I could be mortgage free. I need to sort this situation with my ex or he may stand to gain ever more than I feel he deserves from a moral viewpoint.
What claim might my ex have in this situation pls? How's can I get out of this mess- does anyone have any bright ideas pls? We were never married.
Many thanks all
http://www.familylawweek.co.uk/site.aspx?i=ed89312
You will need to seek legal advice. If you cannot agree a compromise, court is the only option.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Thanks for replies. We will consult a solicitor - we just wanted to be informed first.0
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