Selling property with ex partner

elseychelsea1

I am selling a property that I own with an ex partner. I have been paying the mortgage myself for about the last 9 years(interest only) she hasn't been involved. Will she still have a right to equal equity? Originally when I tried to get her name off the mortgage she said didn't want anything but I think that might have changed now when the cash rolls in.

Pixie5740

Is there a Declaration of Trust in place? If so that should document how any equity should be split. If not then the starting point would be 50/50 and negotiated from there.

You have an interest only mortgage so it's not like you've been repaying any of the capital. All you've been paying is the interest whilst your ex has presumably been paying to live elsewhere.

Thrugelmir

Playing devils advocate and looking at things from a different perspective.

Presumably you were unable to remortgage into your sole name previously. So you needed your ex to remain on the mortgage. Without this you wouldn't have benefited from the increase in the property value.

As Pixie says. Your ex has had to pay increasing rent elsewhere. While you've enjoyed record low interest rates.

You need your ex to be cooperative in order to sell the property. Starting from a position of compromise might therefore be more productive. Not suggesting that you offer 50% but a reasonable sum. The alternative is to force a sale through the courts. This extremely expensive nor is the outcome guaranteed to be in your favour.