Can I claim back my share of house deposit after my name has been removed from mortga

GracieP

gavandcarly wrote: »

The property at the is apparently in negative equity so she says anyway.. I am not 100% sure about that though. I have seen apartments in the same building sell for the same price in which we bought the place.

First off the fact that the name change on the deeds and the mortgage is complete suggests to me that how things stand now are how they will remain.

If I'm wrong about that then pushing forward with this has 3 likely outcomes. If the property is in negative equity then you could find yourself liable to pay your ex a percentage of that amount, based on the proportion of the house you owned. When you say you've seen other properties sell for the same amount do you mean asking prices or land registry figures, because they are rarely the same.

If the property is roughly the same value as it was when it was bought it's likely that (most of) your deposit would be considered as part payment for the legal costs of taking you off the deeds and mortgage, so you won't get it back.

If the property has risen in value you could have a case to get portion of the equity.

But again, I really wouldn't be surprised if regardless of the current value of the property, the fact that the transfer is all signed off on already, means you have signed away all of any claim you might have or any claim that could be made against you.

meer53

I've just done this with my ex, he has agreed to be removed from the deeds and the mortgage. I'm remortgaging in my sole name. The forms he has just signed ask whether you have sought legal advice regarding any equity in the property. As far as i'm aware once you signed those forms, you signed away your rights to anything else regarding this.

The forms are called "Transfer of Equity" forms, sort of explains it all really.

Mrs_Optimist

Maybe I am missing somethng, but you ex did not need to use the house to contact you - you have a child together, or have you cut ties wiith your child too?

I would be very surprised if you can get any money now after taking your name off the deeds. However if the house is in negative equity, on the plus side you won't be liable for the shortfall either.

myalphabetgirls

You used to be able to lodge a caution at the Land Registry against a propery you believed you had a financial interest in to prevent the person selling up without your having had your share.

If you are intent on pursuing you will have to instruct a solicitor probably on a private basis, and the last time I used one (8 years ago) a newly qualified solicitor was charging £140 per hour in my area and this sort of situation is not going to be sorted out in five minutes and will therefore cost you, I imagine, far more than you would ever realise from a positive outcome. You mention you were not able to afford a solicitor previously. Their fees will have only increased over time and are probably less affordable now than ever.

From your op there is obviously far more to this story than you have divulged. Personally, I would let it go. You have obviously moved on with your life, to resurrect this now would in the first & most importantly have a negative impact on the child you created together and secondly and less importantly on your wallet.

In short, I guess - if you have the funds and the thick skin that will be required in dragging this all up then consult a solicitor asap. If you do not think instructing a solicitor is something you want to pursue then walk away.

zzzLazyDaisy

You willingly signed the deeds transferring the house to her. Any payment for doing so should have been dealt with at the time.

Also, the house is in negative equity - you did not have an entitlement to a share in the equity at the time of transfer - just an obligation to pay your share of the loss. It is likely that her solicitor advised her not to press you for a payment towards the negative equity as that was likely to result in you refusing to sign the paperwork. However, her solicitor has no duty at all to advise you, and you should have seen a solicitor before signing legal papers.

Ziggazee

My ex tried this stunt some years ago. He willingly signed over the deeds and mortgage to our flat (which had no equity in any event) together with the endowment policy that we held at that time. He was fully aware of what he was doing but refused to consult his own Solicitor. Because of this I made sure my Solicitor sent him a lengthy letter fully explaining the consequences of signing everything over to me.

Regardless of this around a year later (coerced by his new girlfriend) he started pestering me for money and making all sorts of allegations that I'd forced him to sign the paperwork, that he didn't know what it was, that he hadn't been concentrating when he signed it, blah blah blah! My view......tough!

Basically OP you signed away any rights you had to the property or its equity.....you had the chance to take legal advice and you didn't do so. You therefore have no right to claim back anything.

gavandcarly

Thanks for your replies guys.

Just thought I should mention that my son is not my exes child, he is mine and my wife's child.

I split with my ex nearly 4 years ago.

Just thought I would clear that up lol.