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Split of Property Equity after a Split
JustFair
Posts: 13 Forumite
I separated from my wife after nearly 13 years of marriage just over 2 years ago and the time has come to sell the family home.
After the house being valued she has now asked for an unequal split of equity which I have agreed to, however I believe her request is unreasonable. This is the story:
When we got together I moved in to her house with her and when we sold there was £40k equity from the sale. We used that money to settle a debt of mine (£23k) and the rest was used as a deposit for our first house together, and so we moved on with our life. Since then we have lived in 3 different houses and have 2 amazing children (11 and 8).
Now we have split and the house will give us around £60k in equity after we have agreed to pay off a joint loan and all the fees, but her offer is to pay the mentioned things, then take back the £23k from the debt payment and then split the equity 65/35 in her favour.
Now before I ask if this fair there are a few details to know:
There was a period of approx 6 years in our marriage when she didn't work (my salary covered everything).
I have paid over £18k to her over 2 years to support her and the children.
I am open to honest feedback but I think this is unreasonable, anyone else?
Some legal advice would really help here too?
Thank you all.
After the house being valued she has now asked for an unequal split of equity which I have agreed to, however I believe her request is unreasonable. This is the story:
When we got together I moved in to her house with her and when we sold there was £40k equity from the sale. We used that money to settle a debt of mine (£23k) and the rest was used as a deposit for our first house together, and so we moved on with our life. Since then we have lived in 3 different houses and have 2 amazing children (11 and 8).
Now we have split and the house will give us around £60k in equity after we have agreed to pay off a joint loan and all the fees, but her offer is to pay the mentioned things, then take back the £23k from the debt payment and then split the equity 65/35 in her favour.
Now before I ask if this fair there are a few details to know:
There was a period of approx 6 years in our marriage when she didn't work (my salary covered everything).
I have paid over £18k to her over 2 years to support her and the children.
I am open to honest feedback but I think this is unreasonable, anyone else?
Some legal advice would really help here too?
Thank you all.
0
Comments
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but her offer is to pay the mentioned things, then take back the £23k from the debt payment and then split the equity 65/35 in her favour.
It seems to me that she wants jam on it.
Why have you agreed to this?0 -
The £23k which was used to pay off your debts I can understand but I'm not sure where she is getting the 65/35 split from.0
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When you say she didn't work for 6 years was this because she was at home bringing up YOUR children?0
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I've agreed the higher amount of equity due to the investment from her house.
Nothing else.0 -
Hi,
She was at home looking after OUR children, that usually takes 2 people.0 -
How much is the property worth?0
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I can understand the rationale behind her getting the first £23K (not sure I would totally agree, but it makes sense), but why the 35/65 of what's left after that?0
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oops, too slow of a typer, all wondering the same clearly!0
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So does this mean that the 35/65 takes into consideration the £23K, and the problem from your perspective is that she wants both £23K AND 65%. Still, why?I've agreed the higher amount of equity due to the investment from her house.0 -
Her thoughts all stem from her upfront investment. There was 40k from her house. 23k paid my debt, the other 17k went towards the deposit of our first home together.
The house is worth about 200k.
Her original offer was 80/200
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