Force of sale

MaggieD

Thanks for your advice

Where you say "he perhaps has a claim of £22,500 less half any costs of what a sale would be" how have you calculated that amount?

pinkshoes

MaggieD wrote: »

Thanks for your advice

Where you say "he perhaps has a claim of £22,500 less half any costs of what a sale would be" how have you calculated that amount?

This is half the increase in equity from purchase until he moved out.

£120k - £75k = £45k, so his half would be £22.5k.

You could then deduct half the cost of selling, so £1000 for solicitor, £2k EA fees... so offer £21k.

izoomzoom

I asked on a local FB selling page for recommendations for a solicitor when I needed one.

I got lots of comments, but ultimately went with a solicitor who replied herself, and I did get excellent service from her.

FBaby

£120k - £75k = £45k, so his half would be £22.5k.

Or a bit more than that if the mortgage due had gone down by then.

Could you write to ask what his rationale is for thinking he is entitled to £110K? Something yes, but why that much?

FBaby

I had read about the Jones vs Kernott case and I mentioned it to the solicitor when I saw her. She basically brushed it off and said it wasn't related to my case, which I felt it was - almost identically!

In that case, it sounds like the house WAS sold and he DID get 10%.

What is it you are trying to defend? That the house shouldn't be sold at all and that you should be able to remain in it forever, so are you ok with it being sold, just not the amount he is after.

It sounds like you have a good case for the second, but not for the first as similar to the other case, it is highly likely that he indeed has a case for some of the equity.

So really, it comes down to what you could pay him to sign himself off the mortgage and would you need/be able to take on the mortgage alone if he agreed to a reasonable settlement?

MaggieD

I would offer a settlement. I've been paying the mortgage on my own for the past 16 years, so yes, I would be able to continue

FBaby

You might have been in a position to pay but that doesn't forcibly mean that you would be able to get a mortgage in your name only, but if that's not an issue, and you can pay him £20k cash to get his name off the mortgage, then offer this and see how it goes. Might as well do it now and get over it never having to worry about his link to the house.

pinkshoes

MaggieD wrote: »

I would offer a settlement. I've been paying the mortgage on my own for the past 16 years, so yes, I would be able to continue

You do NOT need a lawyer at this stage, but wouldn't hurt to start looking should you need one...

You DO need to start doing some calculations:

1. You need to calculate a reasonable offer. The £22.5k was just a guess, but you need to do this more accurately.

So you bought it for £75k in 1996 then it was worth 120k in 2001. The increase in equity is £45k (so £22.5k each), but then you also need to add on how much had been paid off the mortgage (so total equity in 1996 taken from total equity in 2001)

e.g. if you bought for £75k with a £60k mortgage, and in 2001 the mortgage remaining was £50k, the equity has increased from £15k to £70k, so by £55k. You would then need to pay him half of THIS amount (so £27.5k). The court would assume equal contributions unless you can prove otherwise...

2. In case he doesn't agree to this amount, you then need to work out how much he should have paid in mortgage payments from 2001 until now. YOu can assume he should have paid half for your calculation.

3. You need to calculate (roughly) how much he should have paid in child maintenance since 2001. Again, you will have to estimate his salary unless you know this info...


Your next step (after doing calculation 1) is to WRITE to him (letter in post with proof of postage) offering a certain amount, and showing your calculation on what this is based on.

I would then ask him to justify the £110k he is asking for, as it is clearly a long way off your calculation of what is owed.

Then wait and see what the reply is...

At least this way you are not denying that you owe him money, you are just (politely) asking him to justify the amount he is asking for.

I would save the child maintenance payments and additional mortgage payments calculations for a second letter if he refuses the first amount.

mark5

Wouldn't his share of the equity in 2001 be entitled to any gains this share has increased in the last 16 years?

If he owned 1/6 of the house in paid up equity in 2001, then he owns 1/6 of the total value today?

MaggieD

A barrister on the law forum told me that, as he left and failed to contribute towards the mortgage or his children, 'by doing so he indicated an intention to abandon his family and any share in the property'
He said my case was virtually identical to Jones vs Kernott, whereby the woman in my situation was awarded 90% and he 10%.
I am not in a position to sell at the moment, so I will offer an amount, suggested by the solicitor I spoke to, and if he doesn't accept that, he will need to take the matter to court.