Beneficial interest after 6 months?

andrew2011

I know this is much-discussed, but everyone's circumstances are different - here's my question:


I have lived in my partner's house since May last year. I have not contributed anything at all financially due to unemployment.

However, I have now started work on a 6 month temporary contract and will pay half the household expenses, including mortgage, for the 6 months I am in work.

Is there any possibility of Beneficial Interest in these circumstances?

I went BR in November last year. I have no joint finances with my partner, everything including bills, mortgage etc are in her name only.

wildheart83

You haven't mentioned what assets you have that would be subject to beneficial interest being sought.
Are you sure you don't mean an Income Payment Agreement? That would be sought by the OR if it leaves you with a surplus once your circumstances have changed.

Best thing to do is to update your SOA showing your new salary, and also your household outgoings. Remember you have a responsibility to notify the OR of your change in circumstances within 21 days

andrew2011

I am doing a new SOA. There won't be much surplus income for an IPA.

I currently have no assets.

My worry is that now I am contributing to the household expenses for the next 6 months, their OR might try to say that I have a financial interest in my partner's property (beneficial interest).

wildheart83

There would only be beneficial interest if you were on the title deeds. The property doesn't belong to you, it's not an asset so there's no issue here of beneficial interest.

If you'd been married, had joint accounts and had been living together for years and years then I suppose it could be argued that you have a beneficial interest but given that this clearly isn't the case then I doubt you have anything to worry about.

Ineedaname

wildheart83 wrote: »

There would only be beneficial interest if you were on the title deeds.

Sorry Wildheart, but from what has been said in the past I don't believe that's the case. The OR can assess BI as having been built up due to contributions made towards upkeep and running of a home.

However, I believe it's only potential BI built up prior to date of BR that the OR could have an interest in. The same as any other asset at time of BR. I also don't think 'after acquired asset' is an issue here and I don't think 6 months income and paying a share of bills during that time is likely to trigger a BI issue for an OR.

Just my thoughts from what I've read on the board over the past year. Hopefully someone who knows will be able to provide a more definitive answer.

tigerfeet2006

I agree INAN.

debtinfo

I concur as well

debtinfo

I would also add that in this case i dont think the OP has anything to worry about

tigerfeet2006

Thanks for backing up our thoughts DI.