Calculation of ex-partners beneficial interest in property

Hi All,

My wife, stepdaughter and I live in the house that my wife owned with her previous partner. They lived together for 3 years in the property, 15 years ago. My wife never had her ex-partner removed from the mortgage.

We are now looking at remortgaging, but are uncertain about how much the ex-partner could claim. It is simplified by the fact he didn't contribute to the household bills, and only ever paid the mortgage for the 3 years they lived together which totals about £6,500.

The property was bought for £41,000 in 2001 and is now worth around £120,000. The property has also had improvements (Kitchen, bathroom, lounge) which he was not involved in paying for.

How much is the ex-partner entitled to?

Replies

  • csgohan4csgohan4 Forumite
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    how is the property owned? joint tenants or tenants in common with a % split?

    if the former 50% unless there's a deed of trust outlining how the property can be split
    "It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"

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  • kingstreetkingstreet Forumite
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    Have a read of Jones V Kernott.

    It sounds like a very similar case. The original award of a 90/10 split overturned by the Court of Appeal was later reinstated by the Supreme Court.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
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