Can I dispute equity split from house sale

Person_one

BitterAndTwisted wrote: »

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

Oh, you've met her?

I presume the costs associated with selling will be deducted before the equity is shared, but I very much doubt she's earned any money from this.

BitterAndTwisted

"The reply was and I kid you not 'women screw guys all the time in these matters so accept it.'"

I believe I have the measure of the character of the person we are discussing but perhaps you have not.

Person_one

BitterAndTwisted wrote: »

"The reply was and I kid you not 'women screw guys all the time in these matters so accept it.'"

I believe I have the measure of the character of the person we are discussing but perhaps you have not.

You think you can judge a person's entire character by that sentence despite knowing nothing else about them? They could have meant "women screw men all the time, and I'm not doing that I just want what we both agreed on, so just accept it and stop making things difficult and trying to give me less than I'm legally entitled to".

Do you think it would have been better for them to stay trapped in a 25 year mortgage or living together against both their wishes after the relationship was irretrievable? There are no winners here, but they can both walk away having kept their dignity and acted fairly.

pimento

The OP would have had to pay rent somewhere if he hadn't been in the house paying a mortgage so a lot of what he perceives as a loss, isn't.

How would the rent on a place compare to the mortgage on the house? The difference is what he lost, not the whole mortgage payment.

F_Bear

think 5K is cheap to get shut of her. wouldnt get excited over 2k in these circumstances, its a cheap life lesson.

TBagpuss

pimento wrote: »

The OP would have had to pay rent somewhere if he hadn't been in the house paying a mortgage so a lot of what he perceives as a loss, isn't.

How would the rent on a place compare to the mortgage on the house? The difference is what he lost, not the whole mortgage payment.

This. You and she agreed that she would move out and rent. Did you pay her rent for her half of the house while you were living there?

How much of the extra £10 equity is attributable to increases in house prices and how much is due to the capital element of any mortgage payments?

How did you reach the figure of £7K?

garythephotoman

Thanks guys for all above comments..

Although I am feeling quite aggrieved because;

She put nothing in and has come out making a nice £5k. She also had little costs of moving as she came from rented council house with nothing to offer financially and has returned to same having reduced her working hours to claim benefits. I am not saying that is wrong but I even had to purchase beds and bedroom furniture for her children as mother preferred to spend cash on alcohol and tattoos... and yes I know I should of seen all this coming a mile off.

At the time of her leaving, the property had little equity and I have since spent time and cost on improving property to try and sell to cover costs. Large mortgage redemption penalties have not helped and I now realise a 5 year fixed was not really the way to go with our circumstances. The fact that I was in the property 12 months alone also bought these costs down by approx £1500.

I am still miffed at the fact my declaration of trust did not include a section to include what happens in the event of one party not contributing to mortgage payments. I have attempted to speak to the conveyancer who drew up the document (which was free), but it appears he has since left under a bit of a cloud to work in a factory. I have now learned that it pays to pay a few hundred out to have one of these drawn up professionally... which I thought mine was at the time.

However, as a few have said previously, I feel I have to reluctantly take a deep breath, let it go and move on..
Phewww

FatVonD

You could have rented out her half of the house to cover her half of the mortgage but you didn't.

You have a legal document that says she is entitled to half of what is left after your £25 and fees so just give it to her and be glad you managed to hang onto your deposit.

j.e.j.

garythephotoman wrote: »

I'll try be concise and brief.
I purchased an house with ex partner 2 years ago. I paid £25k deposit on mortgage and had a declaration of trust made up for that amount. Partner had no savings.
After 12 months of living together all went pear shaped and ex partner moved out refusing to pay any part of mortgage payment. I continued to make the mortgage payments alone for last 12 months why house has been up for sale. This has crippled me financially but I did not want to go down the reposession route..
House is now sold and £10k equity has built up which solicitors are waiting for me to agree and release for a 50/50 split. I know the figures are not huge but the principle gets my goat up. I approached the ex and said, would you be prepared to accept 3k and me have 7k as a gesture of good will for me keeping the mortgage payments going. She would then come out with a profit and I still make a loss.... The reply was and I kid you not 'women screw guys all the time in these matters so accept it.'

I'm not an expert on this, but I'd have thought that as you weren't married AND you put £25k in to the house you'd be entitled to more than her. Your solicitors would be better able to advise you on this.

And fwiw I agree with Bitter & Twisted, she sounds a real charmer.

getmore4less

What you effectively did was give the ex an interest free £12.5k loan and a 50% share in any equity.

A better way to do trust deeds is using an equity basis where your deposit buys a share.

The failure to include the various scenarios of splitting including the can't/won't pay is a hard lesson.

As others have said the numbers are not worth the fight.