co-habiting partners

NEWLIFE_4

Hi all,
Hope you can help me. I brought a house with my recently ex pertner a year ago. We noe need to sell it. When we brought the house we put down a large deposit which his family had given both of us. We brought the house as joint tenants and the deposit was put down jointly. Where do I stand in taking half the depoist?
(I know some of you may think morally this is wrong and six months ago I would have agreed, but times change.)

lynzpower

If it wasnt for his family's large deposit would you have been able to "buy" the house?

What did you put in?

NEWLIFE_4

No we would have brought a smaller house. The money from his family had been given to us a year before to do with as we liked we just decided to keep it for a deposit.
I don't blame you for thinking I'm out of order. Money has never interested me and had the split not happened the way it did I would have taken nothing and he knows that but it's a case now of hit him where it hurts. (As I say still very bitter only found out about the affair on Friday)

I just want to know what I can do in this position.

Sorry for rant

Red_Elle

I don't blame you one bit. The gift was to both of you from what you have said and the people giving the gift were not to know that he would have an affair.

Imagine his parents had paid for you to go on holiday, or paid for your wedding. Would you expect to pay them back half of the costs if you split up?

Unless the deposit was put down only by him then I would have thought you would be entitled to half back and half the money made on the house, if any.

lynzpower

Nah Newlife, Im not thinking your out of order, everyone has their reasons for what they are doing, who Am I to judge? Rant away!! Id be :mad: too if this happened.

I really dont know about this TBH. I have been looking into it myself as me & other half are going to sell my flat ( equity all mine) and move somewhere else using this equity, We wanted to know ourselves how to protect my equity in worst case scenario, and so far we havent been able to find out, aside from us sticking a disclaimer in the contract when solicitors drawing up maybe a pre-nup type agreement. Sorry this advice not much use to you, im sure someone more knowledgeable would be along soon. xx

JustTakeAllMyMoney

Unless you have a declaration of trust setting out the difference in equity being paid in, then its a 50 / 50 split. HOWEVER you ex partner would be able to challenge this he could claim that though it wasnt written it was implied, the fact you only stayed togeather for 6 months may go against you.

Declaration of trust notices are put on the land registary for that property if there is one. Until I marry I will always have one in place as it works both ways, ie I put loads in, partner doesnt, partner does a bunk :eek:

NEWLIFE_4

Thanks for the advice. We have been together for seven years and have lived in the house for a year, would this make a difference?
There was no declaration of trust, he had alsways said that it was my money to and if the worst ever happened then I could have half. But I can see that this might change very quickly.

Do you think I should tell him now that I want half or leave it further down the line?

silvercar

Do you think I should tell him now that I want half or leave it further down the line?

Don't mention it until it comes to getting the proceeds. Why give him time to build amunition? At that time you can see, joint flat, deposit belonged to both of you etc so split is 50/50 if he startst o act then he will delay the sale and so is more likely to be bowled over.