Buy out or be bought out?

Debt_Free_Chick

silvercar wrote: »

Seems unfair.

X and Y set up home together, X earns three times Y but in the relationship they pool finances. X and Y split up, X moves out.

Now Y is liable to pay half the going rate of rent to X, even though Y would never have got into the situation of renting such an unaffordable place on Y's salary alone.

Fair point, but presumably they jointly contrbuted on a 50/50 basis, despite the difference in their earnings and they own the property 50/50. If they contributed 60/40 and own the property 60/40 then the rent should be paid accordingly.

One of the cornerstones of English law is "fair and equitable" so if a property is owned 50/50 and occupied by one, the other is owed 50% rent; and if it's owned 60/40 and occupied by the one owning 60% the other is owed 40% rent.

Problem is that two can live pretty much for the same price as one. So when sharing, everything seems affordable. And if each had lived alone from day one, they might well have had far less generous accommodation - so one ends up living in a property beyond what they need.

If I sound "so certain" about these things, it's because I'm in exactly this situation ..... ex earned more than me; we shared 50/50; he's moved out; I'm funding the costs of living in a five bed detached house alone!!!! :eek: I filled the oil tank in August and it cost £730 :eek: a cost that we would have met 50/50 in the past, but it now falls entirely to me On the bright side, the mortgage repayments ought to fall by £450 if the lender passes on the big recent cut (no news yet, but I'm holding my breath!)

Regards