What is Ex entitled to???

Red1979

Hi,

If anyone can help or advise me on this, it would much appreciated!

Me and my ex bought a house in October 2005, we split up three years later in 2008. After spliting up he moved away and i had no contact with him for two years and was unable to remove his name from the mortgage, leaving me to pay the mortgage plus our debt.

However, he has re-appeared and claims he wants half of everything despite him not paying anything for the last two years.
The house is currently sitting at a loss so selling seems pointless.

Does anyone know what he would actually be entitled to??

Thanks

Red

TonyMMM

If the house is in negative equity , what exactly does he want half of ?

What did you pay for the house ?
Mortgage outstanding ?
Realistic Value now ?

Are there any other joint assets ?

CloudCuckooLand

Give him a bill for two years payments, and say when that is paid a valuation will be sought to ascertain the fair split.

Red1979

The flat was bought for £68000, im unsure how much is outstanding would need to look at my statements, it would probably be valued about sixty, ive had problems with water damage three times this year too which im sure will decrease the value.

We also have a joint loan which ive been paying for the last two years as well.

loubel

Unless you had an agreement in place when you bought, what he is entitled to depends entirely on what you agree on now.

From what you've said he owes you money rather than the other way around!

Who paid the deposit on the house?

mambo69

Tell him he can have 50% of the total he contributed in the last 2 years as a full and final settlement

Red1979

Thanks

There was no deposit it was when mortgage companies were throwing 100% mortgages at people.

I definately cant see how he can get half of something that isnt worth anything. I might well tell him he can have 50% of what hes contributed over the past two years, hes not too bright so he would probably think hes getting a good deal!!!

Jenniefour

Half of nothing = nothing. Would be wise for him to walk away and quit hassling you fo the non existant half.

Annisele

Although whilst he's around and you can talk to him, it might be worth trying to get an agreement thrashed out. At the moment half of nothing is nothing - but you don't want to be having this conversation again in ten years when there actually is some money to argue about.

opinions4u

If you're in negative equity, you need to clarify what his share is.

On the face of it I'd suggest:

1) He owes you half of the mortgage payments that you've made in his absence (but nothing for the household bills that you've paid).
2) He is also responsible for half the negative equity.

Point (1) is open to debate. Should you be paying him something in "rent" for his part of the house?
Point (2) is rather important. Don't let him off the hook on that one.

In the end you won't get a right answer from a messageboard because individual circumstances around a separation are rarely as straight forward as I imply above.

You need to consider what you want, what the lender will allow and what the legal position is.

It may be that you would pay to get rid of him, but the lender won't remove him from the mortgage - in which case you have a problem.

If I was him I'd be offering to pay the costs of being removed from the mortgage and lumbering you with the negative equity. Actually, I'm not sure I'm that nasty ... but hopefully you get my drift.

Solicitor time and some nice bills me thinks.

themull1

Whatever you decide, make sure its in writing via a solicitor!