I want to buy my ex husband out of our property

zzzLazyDaisy

missile wrote: »

I would pay off the overdraft and close the account.

It is never too early to consult a solicitor. In your case I would do it today!

Sorry I just noticed that you are from Japan. All this must be very confusing for you. I agree with missile - you need to see a solicitor urgently.

You can't close a joint account without the other person's signature. But in a case of a relationship breakdown the bank can freeze the account. So I'd get a separate account in my sole name (if you haven't already done so) and get the joint account frozen. You may need to get your solicitor to write to the bank.

Debt_Free_Chick

Arguably, you shared living costs equally if he paid the mortgage and you the food/bills - were those costs roughly equal?

Ignoring your deposit and his debt, the starting point would be a 50/50 share of any equity i.e. what it would (likely) sell for today, less the outstanding mortgage. You would no doubt argue that you should get more than 50% to reflect your deposit and then another bit to reflect his debt on your joint account. You could also argue that he bears half of the EA's fees - this would have been a joint cost if you were selling on the open market, so he would save his share if you buy him out. Also, you will have to bear 100% of any EA's fees if/when you sell in the future.

It's all up for negotiation, but start at 50% of the equity (if any!) and then take a chunk away. See what his reaction and then negotiate!