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  • FIRST POST
    • Helpmeifyoucan
    • By Helpmeifyoucan 12th Mar 17, 10:46 PM
    • 14Posts
    • 0Thanks
    Helpmeifyoucan
    Really good opportunity that unfinished business may ruin.
    • #1
    • 12th Mar 17, 10:46 PM
    Really good opportunity that unfinished business may ruin. 12th Mar 17 at 10:46 PM
    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
Page 1
    • edinburgher
    • By edinburgher 13th Mar 17, 9:46 AM
    • 10,747 Posts
    • 56,186 Thanks
    edinburgher
    • #2
    • 13th Mar 17, 9:46 AM
    • #2
    • 13th Mar 17, 9:46 AM
    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.
    • kingstreet
    • By kingstreet 13th Mar 17, 10:58 AM
    • 32,271 Posts
    • 17,301 Thanks
    kingstreet
    • #3
    • 13th Mar 17, 10:58 AM
    • #3
    • 13th Mar 17, 10:58 AM
    My uncle sold me the property at below market price to avoid capital gains tax
    Originally posted by Helpmeifyoucan
    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.
    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.
    • kingstreet
    • By kingstreet 13th Mar 17, 11:00 AM
    • 32,271 Posts
    • 17,301 Thanks
    kingstreet
    • #4
    • 13th Mar 17, 11:00 AM
    • #4
    • 13th Mar 17, 11:00 AM
    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
    Originally posted by Helpmeifyoucan
    You may wish to acquaint yourself with Jones v Kernott;-

    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.
    • Helpmeifyoucan
    • By Helpmeifyoucan 15th Mar 17, 8:18 AM
    • 14 Posts
    • 0 Thanks
    Helpmeifyoucan
    • #5
    • 15th Mar 17, 8:18 AM
    • #5
    • 15th Mar 17, 8:18 AM
    Thanks for replies. We will consult a solicitor - we just wanted to be informed first.
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