Girlfriend is selling house but .....

dzug1

wytco0 wrote: »

Not sure I understand this completly? I think the deed probably have both names on then, not because I wanted it that way buit because I assume that the bank would have insisted on it and we are both named on the Mortgage.

Having 'names on the deeds' and 'names on the mortgage' is not just a meaningless paper exercise - it's all to do with ownership.

When this happened you became joint owner of the property, and in the absence of anything to the contrary, are entitled to 50% of the proceeds and all that goes with that.

So it is NOT your GF's house however you might like to refer to it. It's joint.

I'm dubious about claiming you are not a beneficial owner - you provided some of the funds to purchase it by reason of being a part mortgagee.

So yes - you need expert advice as others have said. I'm pessimistic about the outcome of it though.

I always cringe when I see questions about adding or removing names from deeds, etc - I never know whether people are using it as a convenient shorthand for gifting or really believe it's just a paper exercise that has no effect on ownership. You've found out the hard way that it isn't.

Fire_Fox

My parents had a second property that was initially BTL, they lived in for a time, and then was classed as uninhabitable for a time as it turned out to be built on contaminated land. They were pointed in the direction of a legal expert who managed to cut their capital gains tax massively (not altogether as it was BTL for a few years): sorry I can't get the guys name as my parents are travelling.