Relationship split with house in negative equity!

antrobus

StuC75 wrote: »

Childrens Act trumps most of that to be honest.. I almost faced this scenario back in 2001 - but fortunately we had plenty of equity and in the end She came round to the idea of selling - but with a bit of negotiation in terms of the split of equity..

Trumps what exactly?

As far as I'm aware, you can make what is legally known as as Schedule 1 Children Act claim, which basically means that house can't be sold and has to be kept for the benefit of housing the child until they become 18. Equitable accounting and TOLATA (as I think it's called) is something else entirely and deals with how the equity should be split on sale.

Where it to be the case that the OP was unable to reach an amicable agreement with their ex and was obliged to go to court to settle matters, the usual advice is to seek an order under Sch1 CA 1989 (so that they can continue living in the house) and an order under TOLATA that deals with what happens to the property afterwards.

DUTR

antrobus wrote: »

Trumps what exactly?

As far as I'm aware, you can make what is legally known as as Schedule 1 Children Act claim, which basically means that house can't be sold and has to be kept for the benefit of housing the child until they become 18. Equitable accounting and TOLATA (as I think it's called) is something else entirely and deals with how the equity should be split on sale.

Where it to be the case that the OP was unable to reach an amicable agreement with their ex and was obliged to go to court to settle matters, the usual advice is to seek an order under Sch1 CA 1989 (so that they can continue living in the house) and an order under TOLATA that deals with what happens to the property afterwards.

What if the ex was out of work and unable to contribute towards the mortgage, I do think many replies are telling the OP what she wants to hear rather than what she needs to know, she WILL get a roof over her head, it does not mean it will be the one they are currently in, and the ex need not be too bright to work out that 15% net + half of a mortgage and his own living expenses may render it not worth his while working, everybody will lose and as well as bitter split, a large debt with nothing to show once it is cleared.

antrobus

DUTR wrote: »

What if the ex was out of work and unable to contribute towards the mortgage, I do think many replies are telling the OP what she wants to hear rather than what she needs to know, she WILL get a roof over her head, it does not mean it will be the one they are currently in, and the ex need not be too bright to work out that 15% net + half of a mortgage and his own living expenses may render it not worth his while working, everybody will lose and as well as bitter split, a large debt with nothing to show once it is cleared.

Sounds to me like you have issues.

Oh and btw, I've thought of something else that maybe vaguely helpful. OP should now qualify for the single person discount on their Council Tax - that should knock a few quid off the bills.

DUTR

antrobus wrote: »

Sounds to me like you have issues.

Oh and btw, I've thought of something else that maybe vaguely helpful. OP should now qualify for the single person discount on their Council Tax - that should knock a few quid off the bills.

No issues Antrobus, you are correct about the council tax, but in your heart you know the practicalities are correct, the emotional side cannot really be dealt with by law.
Why would the OP be seeking professional direction when she can simply come onto MSE for the vote?