Joint ownership with ex-partner - how to resolve?

DAKOTA45

JAS2015 wrote: »

Re: Charging Order
I've just been through this with my ex partner. In most cases, this is correct. However, if the buyer/your ex partner INSISTS the restriction is cleared from the title before completion, then you will need an undertaking from your debtor that the restriction will be lifted. To do this, they will want payment of the debt.

I don't think they can insist on it, but it makes things difficult and you could lose a sale, so most conveyancing solicitors will try and take the easy way, just so they get paid. TB

Thrugelmir

As long as you contribute financially then your ex has no reason to do anything. Cutting financial links. May well focus his attention more clearly. As at the moment far too easy to simply maintain the status quo.

I'd worry more about the division of equity once the property is in the process of being sold and the actual proceeds known.

mark5

DAKOTA45 wrote: »

Asparagus… If there is £40k equity, your share of the equity would be £20k, less the £7k debt, (which you admit is yours). Your partner is being quite reasonable in offering you £15k. I would accept it, but say that if there is an increase in equity before the house is sold, then you get a pro rata share of it. But if there is any interest being added to your Charging Order, then you would need to take that into account too.. TB

Only if the ex partner is taking responsibility for paying off this debt.

For me the OP would clear this charge as part of the transaction which sees them receive their share of the equity.