Co-habitees seperating: Division of Property

sumodog

I'm splitting up with my partner. We've been living together for 2 years in a purchesed house (with the help of Building Society).

I put the vast majority of the cash into the purchase of the house and contents, a lot of which was my settlement from an earlier diviorce.

My ex agrees that what I physically - ie furniture etc - put into the home goes with me but is (now) insisting that the equity released by the sale should be split 50/50. The equity is c£25k.

There are also our cars bought whilst we were together. Mine worth c£8k, his £4k.

A sale on the house has been agreed.

There are no kids involved.

I originally offered what I felt to be a generous £5k 'pay-off'; therefore splitting the £25k equity £20/£5.

Are there any other things to take into account?

What recourse do i have if she refuses to accept my offer?

Im hindsight, a pre co-hab agreement would have been a good idea...

I'd be very grateful for your thoughts / ideas.

Thanks

hjb123

Do you have any thing to say how much went into the house from each of you - ie how much you put in and how much she put in? Is the house in joint names? Are you on most bills etc? I would maybe see someone at the local Citizens Advice or are you already having legal advice?

comping_cat

If you didnt sign an agreement before hand, stating you would get back what you put in before hand, you will prob find you have a big fight on your hands. This happened to me, and even though we had children together, because we hadnt got married or engaged and i hadnt specified that i had put the lions share into the house, he got half!!!! I will add one of the problems i had was the fact i was on legal aid, and they wouldnt pay for a barrister to fight a case that they didnt think i had a very good chance of winning, so you must think about the cost of fighting, will the expence be worth what you gain? You must definatly see a solicitor to see what they can do for you, i do hope your outcome will be better than mine. I always advise anyone now to make sure they have an agreement beforehand, i wouldve never thought the man i had my children with wouldve treated us in that way!!!!!

sumodog

bump..........

scoobymom

HI help please need some advice,

Found out my partner has been lying to me so i told him to pack his things and leave. Trouble is we have two children and a joint morgage, he is the one that earns and pays the bills as i am a full time student. He has now gone running off to his mommy telling her god knows what stories and she is poisoning his mind against me. Dont want him back in the house but what can i do!!!!!!!!!!

Mrs_pbradley936

There are no hard and fast rules about this if you are not married. I would try and come to a agreement without solicitors if you can because you will both save money. Is the property and mortgage in joint names? Have you both made fairly equal contributions?
Do you have joint bank accounts? Which solicitor will handle the sale of the house yours or theirs? When the house is sold the solicitor will want to know where to put the equity. The solicitor can do a split of whatever you want but you had better be able to say what you want. So talk to each other and be reasonable.

If you were married and splitting up then it would not just be the property, you would have claim to each other’s pension funds as well.

Scarlett1

Sumodog is it a joint mortgage ?

In my opinion I think its stingy to offer her a 5k payout, I agree with her that the equity should be split 50/50 after you have been paid back what you have put in.

Who pays the mortgage, is it just paid out of your money or does you partner pay it aswell ? do you pay the mortgage and her pay the bills, or vice versa, would you even have had the house if it wasnt for you ex's contribution

This post does seem to be a bit one sided, I cant see you partner living with you for 2 years and not contributing in some way, the equity which you have has grown whilst you have been living in the house together so you should both benefit, if the boot was on the other foot and your ex had put most of the money up would you be happy being offered 5K.

I dont want to scare you, but I saw a friend with his head in his hands trying to think of ways to raise money to paid his ex girlfriend off, they lived together for under 3 years and she was refusing 24k that he offered her from the share of the equity, they were both being fleeced for money by solicitors trying to sort it out

mountainofdebt

I totally agree that the only winners in this are going to be the solicitors.

How did you come to the £5K figure?