Can I dispute equity split from house sale

Person_one

Homeownertobe wrote: »

How is it 'very fair' for one party to make a profit and another a loss?

Oh, because the party making a profit is female. Silly me.

The house has gained 10k in equity in 2 years, so only 5k in the year the OP has been paying it by himself.

Do you really think it's a sensible use of time and energy to quibble over getting 70% rather than 50% of 5k?

I doubt either of them have really made a profit, since they separated they've both been paying to house themselves, him the mortgage and her rent, which was never the original plan.

LannieDuck

garythephotoman wrote: »

Thanks for all comments.. In response to Jagraf, yes we did agree that ex partner should move out to rented house and I was aware then that she would not contribute to mortgage. I understand that. but just thought it would only be right that equity gained in the property since she left should come to myself. I know now that this is a little naivety on my part.

This sounds really important. Ex may not have been making mortgage payments, but was making rent payments - did that eat up all the money she used to put towards the mortgage?

If your ex's rent was £X, and your mortgage payments were £Y (increased from £Y/2 which you used to pay), I would add X and Y as the total outgoings incurred, and see what proportion Y is. That's the proportion of the equity I think you should claim.

barbiedoll

The money that it will cost you in further solicitors fees for letters back and forth and so on, will only eat into your equity share anyway, so give her the £5K and see it as money well spent to get shot of her.

"Women screw guys all the time in these matters"...She sounds like a real keeper (keeps the house, the furniture, the ring etc etc)

You've had a lucky escape by the sound of it!

Gavin83

Depends what outcome you want from this. If you want revenge then go ahead but if your actually after the money I'd let it drop and just give her the £5. By the time this has gone through the courts you'll likely have none of the £10k equity left, regardless of the outcome. Therefore you'll be financially better off to give her the money.

In the future try and make any house purchases a bit more even.

Person_one

Gavin83 wrote: »

In the future try and make any house purchases a bit more even.

How would you have made it more even though?

He put in a 25k deposit, then further payments were going to be 50/50. The declaration of trust set out that he'd get his 25k back and then the equity would be split 50/50.

Seems fair to me, the fact that it's taken a year to sell it after the split is just bad luck, that they've both suffered extra costs for, not just him.

Homeownertobe

Person_one wrote: »

How would you have made it more even though?

He put in a 25k deposit, then further payments were going to be 50/50. The declaration of trust set out that he'd get his 25k back and then the equity would be split 50/50.

Seems fair to me, the fact that it's taken a year to sell it after the split is just bad luck, that they've both suffered extra costs for, not just him.

It's clearly not fair. He's been forced to pay the entire costs associated with the house for 12 months (nearly financially breaking him) while she's been able to pay minuscule rent (in comparison) and live the life of riley all while sitting back and profiting from his sacrifice.

I'm sure you'll attempt to argue that she needed more than a rented room in a shared house and how that will probably (in this weird topsy turvy world) will have cost more money than keeping an entire house going.

Person_one

Minuscule rent? Why are you assuming that?

BitterAndTwisted

I'd be tempted to offer her half of whatever is left after you've deducted her 50% of the mortgage payments you've had to meet alone after she walked.

Person_one

BitterAndTwisted wrote: »

I'd be tempted to offer her half of whatever is left after you've deducted her 50% of the mortgage payments you've had to meet alone after she walked.

On what grounds? The OP has stated that they agreed the partner should move out to rented and that this would mean they wouldn't contribute to the mortgage anymore. Bit off to suddenly go back on that.

Both of them have incurred extra costs and have lost out financially due to this split. It sucks, but it happens all the time.

BitterAndTwisted

On the grounds that she's a greedy and selfish bint who left the OP in a hole.

If she decides to pay a solicitor to send him a threatening letter, all the better.

I'd be deducting half of the conveyancing fees, the agent's commission and everything else it's cost to sell this property. You don't get to waltz out of a joint financial commitment and expect to earn money off someone else's back. Not in my world, anyway