Advise needed in relationship split with property

bones65 · 1 June 2011 at 5:15PM

Hi
Not sure if this is the correct thread to post this but here goes. I have just split with my partner of 7 years. We have a house together with both our names on the mortgage. I however have paid all the bills and mortgage from my salary whilst my x partner paid for the shopping one insurance cover and entertainment costs.
Now we have split she is asking for half the property has she got a legal right to claim this even though i have paid all the bills etc.

Any advise will be gratefully received

Emmzi · 1 June 2011 at 5:41PM

she has a legal right to claim something but the best person to advise you is a solicitor.

depends how much you put in the house each, children, earning potential, etc etc etc. You may find if she isn't going after your pension half the house is reasonable...

hcb42 · 1 June 2011 at 5:44PM

splitting it 50/50 seems a fair enough prospect to me..including the debt...

bones65 · 1 June 2011 at 5:47PM

Were not married No children and very little equity in house.

does this make a difference. If i have to pay 50/50 so be it but it seems so unfair as now im paying the lot she isnt buying the food anymore and i have NO money in which to go out.

Is she entitled to half the equity.

hcb42 · 1 June 2011 at 5:50PM

depends on what your debt is and what your equity is.

If yuo have little equity, what does she think she will get 50% of? (Or a share of).

It's difficult for anyone to say is she entitled to half. It depends on a number of factors, and what is the most proper thing to do.

How much equity is in the house and what do you think it is worth (being realistic, if it were sold tomorrow)

Also you will need to look at the debt - is it all in your name?

bones65 · 1 June 2011 at 5:52PM

House worth max £160k, mortgage £145k achievable sale price £157k

Emmzi · 1 June 2011 at 6:39PM

on those figures if she also works £10k would be generous. How much is it worth to you to get rid?

poppysarah · 1 June 2011 at 6:41PM

So you have £25k of debt as well as the mortgage with virtually no equity.

Can you afford to buy her out?

You might be better off selling it.

G51shopaholic · 1 June 2011 at 6:51PM

she is entitled to 1/2 the value of the house.
If she's moved out and you are left to pay the mortgage, then you are entitled to deduct 1/2 the mortgage payment from her settlement amount.

Better to sell uo and start afresh

If the debt is for home improvements - then this too is deductable from her share (she is responsible for 50% of every penny of debt for the house).

sonastin · 1 June 2011 at 7:04PM

How does her contribution stack up against yours? I mean, if you had spent the last 7 years eating like kings and partying every night, shopping and entertainment could well have cost her more than mortgage and bills. I'm guessing from your post that you definitely don't see it like that but take a step back and look at it objectively - how much was she really spending compared to how much you were paying? And how much do you each earn - if you earned significantly more, it would be fair for you to pay a bigger share in a loving relationship. Just because it is no longer a loving relationship doesn't mean you should start re-writing history. And how much of the "entertainment fund" went on doing things that were your choice and how often did she decide on the activity which you only went along with to be supportive i.e. were you spending her money on going out when she'd have been happier staying home?

So once you've taken the emotion out of it and decided whether she contributed a fair amount relative to her wage over the past 7 years, then you can start deciding what a reasonable offer would be for her share. Remember, if it is joint debt as well as a joint mortgage, what she's getting a share of isn't very much. If its your debt alone, it shouldn't be factored into the equation. If you each put in a similar contribution relative to how much you earn, half of the equity is reasonable. If your earnings are relatively equal but you contributed a bigger share to keep a roof over your heads, something less than half would be fair. If she's going to fight for it, the solicitor's costs might be more than you get to keep though - might be worth reminding her of that when you make your counter offer. And explain how you came up with the figure so she has to justify why she deserves more.

Above all, if it is in any way possible, try to work this out in a civilised fashion. If you can't talk to each other rationally about this, the solicitors will come out of this better than either of you. I know its not always possible during a break up but you really should try...