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buying out ex partner
prawn34
Posts: 4 Newbie
HI, I was wondering if anyone had any advice please. I own a house with my partner. We bought the house 5 years ago and it's in both of our names. We have a 3 year old child together and I have a 12 year old from a previous relationship. I am desperately unhappy in the relationship and feel we are only together because of the mortgage and the house. I can see no way out. I would like him to leave the house. How can I go about doing this? I would like to buy his share of the house as I know he will want every single penny of what he is entitled to and I just want to know what my options are. I earn £31,000 and the house is worth approx £165k. £120k left on the mortgage. Bought it for £135k. ANy advice would be so greatly welcome. THanks. 0
Comments
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You might want to take a look at www.wikivorce.com, for additional advice on your legal position.Debt free since September 080
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I've just helped my partner through a divorce and similar circumstances....my findings are as follows, but every situation is different.
This is not as simple as it first seems. I'm assuming as you are using the term "Partner" you're not married.
First port of call is a half hour free session of legal advice, if you're on talking terms, preferably together. As it means you don't have to repeat everything said in the meeting.
Mediation is the current watchword, the government, quite rightly, is keen to stop elongated messy expensive divorces/separations so it promotes mediation...use it, it is a big help. But get legal advice and come to arangement between the two of you if you can.
There are financial considerations of the child you share and this may or may not be relfected in the equity purchase of the house and and maintainance payable on your partners leaving.
It is not as easy as 50/50 if you're responsible for keeping the children and the house and all the expenses relating to both.
Remember mediation is only there to help you come to an amicable agreement, you will not be offered legal advice during the meetings, this you need to seek yourself.
Good luck, it's not a nice place to be, but you're taking steps int he right direction.0
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