Unequal shares..?

kingstreet

James548 wrote: »

Thank you.... you mention:

"Presumably, she put in most/all of the deposit at purchase, so 54.8% represents that, including what it has grown to?"

If that is the case - she would be entitled to the first £172K (54.8% of £315k)

So i essentially get ZERO?... since there is only £155k to be split anyhow..

i do have to apologize if i'm being stupid here..

Amended.

Take off the mortgage to be repaid. It's based on the equity in the property, not the value.

sammyjammy

James548 wrote: »

Thank you for some re-assurance.. I've moved out and currently renting, driving further etc so my overheads don't really allow advice by a professional right now.

Does anyone think a friendly local estate agents could help me clear it up if I was to pop into one and ask for their view?...

Thanks very much everybody.

No I don't think they will help, they have no reason to and are no more likely to understand it than any other layman.

Citizens advice MAY be able to assist if you can show them a copy of the agreement but you may struggle to get an appointment.

getmore4less

What were the purchase numbers deposit and mortgage.

Did you pay the mortgage 50:50?

Number75

If you were 18 and she brought in a big deposit, then I'm guessing she covered the majority of mortgage / other bills at least in the early years of your relationship - so you're potentially going to do rather well from the opportunity to have been 'on the ladder' and get 50/50 on a proportion of the equity.

Do not ask an estate agent - they are not solicitors.

As suggested, you could try to ask CAB. But given the money involved I personally would save or borrow to see a solicitor.

What is your ex saying? 50/50 on the equity after her initial deposit driven 54% is taken off seems very fair if you just split all costs. If she was paying more, lucky you!

makemesumdosh

Are you a member of a trade union /
Most give members a free 30 minute phone call with a solicitor.
All should offer some sort of help.

getmore4less

You need the initial numbers to reverse engineering the thinking/intent behind the split as it was badly written.

Number75

It's not necessarily badly written.
To me it is quite clear that 54.8% of the equity goes to the poster's ex, then the remaining equity is split 50/50.
This is consistent with what the poster has said - that the ex put in a sizeable deposit and he didn't.

She protected her large deposit, and everything after that % is split equally.

The devil is in the detail and if she then paid more of the mortgage she has put herself in a bad position. But in principle, protect the deposit as a % then equal splits sounds perfectly reasonable and clear from the wording too.