Severance of joint tenancy - Any risks?

Coume

Hello,

We separated and our house sale fell through.

We own the house as joint tenants but the ex is proposing to go to a tenant in common. I understand that she could do it unilaterally so there is not much I can do; anyway, I am trying to understand the ins/outs.

We used help-to-buy so 20% is owned by the Gvt in both our names and we have a joint mortgage for the remaining 75%.

1) If we become tenants in common at 50/50 but she never participate to the mortgage from then on. Could I argue this in the future and have my share increased based on my increased payments?

2) As a tennants in common, I believe that we could sell her share to someone else. But since we have a joint-mortgage, could she still do so?

3) Could she get a second charge mortgage or raise cash against her share of the property?

Thanks for your comments/advices.

TrickyDicky101

Coume wrote: »

Hello,

We separated and our house sale fell through.

We own the house as joint tenants but the ex is proposing to go to a tenant in common. I understand that she could do it unilaterally so there is not much I can do; anyway, I am trying to understand the ins/outs.

We used help-to-buy so 20% is owned by the Gvt in both our names and we have a joint mortgage for the remaining 75%.

1) If we become tenants in common at 50/50 but she never participate to the mortgage from then on. Could I argue this in the future and have my share increased based on my increased payments? Possibly but this would be for a court to decide

2) As a tennants in common, I believe that we could sell her share to someone else. But since we have a joint-mortgage, could she still do so? No she won't be able to do this with a mortgage outstanding on the property

3) Could she get a second charge mortgage or raise cash against her share of the property? Not without committing fraud (ie she would need to sign in your name too)

Thanks for your comments/advices.

My answers above. I'm not a legal beagle or a mortgage adviser though, please note.

Trying_to_be_good

Do you want to stay in the house? Can you afford to take on the financial commitment on your own (not sure how this works with HTB but someone will know)? Clean break is much easier if you can find a way.

Thrugelmir

Coume wrote: »

Could I argue this in the future and have my share increased based on my increased payments?

The cost of legal action is likely to outweigh any potential benefit. Arguing in court without legal foundation isn't advisable either.

Coume

Trying_to_be_good wrote: »

Do you want to stay in the house? Can you afford to take on the financial commitment on your own (not sure how this works with HTB but someone will know)? Clean break is much easier if you can find a way.

I was currently renting a house and will be moving back in, as soon as she moves out.

There is a chance that I could after talking with my mortgage company but she does not seem to like this idea anymore!
the HTB is pretty straightforward. if I can show them a mortgage in my own name, then it cost 60GBP for them to change the HTB into a single name.

Coume

Thrugelmir wrote: »

The cost of legal action is likely to outweigh any potential benefit. Arguing in court without legal foundation isn't advisable either.

to be honest, as long as she cannot sell her 50% while there is a joint-mortgage or she could not take a second charge mortgage or raise some cash against her share of the property, I would not be worried of the above.