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Declaration of trust/house repossessed please help!
kassandra
Posts: 377 Forumite
I really could do with some help please.
Really long story but I’ll try and be as brief as I can.
My partner (now ex) secured a mortgage on a house and I put £20k deposit on it. We had a declaration of trust drawn up and lodged with the land registry which stated that if the house was sold then the 20k would come back to me and anything over this amount would be split 50/50.
We split but continued living together for a while before I was granted a restraining order. It was only after he left I discovered he’s not been paying the mortgage for almost a year. After around 9 months of court proceedings the house was repossessed. The bank then left it over 6 months before putting it on the market.
I have now received a letter (via email) from the banks solicitor stating that I need to sign the rx4 (I think) form and the 20k will be returned to me. I queried this and asked whether there would be any further monies due to split between my ex and myself. The reply was that they didn’t think so as there appears to be insufficient funds to recover their clients charge in full.
How does this affect my 20k? I was under the impression that the bank would take their money first? If so then I may not get the full 20k so how can they say the 20k will be returned to me?
Also what would happen if I didn’t sign the form?
Thank you so much if you got this far!
Really long story but I’ll try and be as brief as I can.
My partner (now ex) secured a mortgage on a house and I put £20k deposit on it. We had a declaration of trust drawn up and lodged with the land registry which stated that if the house was sold then the 20k would come back to me and anything over this amount would be split 50/50.
We split but continued living together for a while before I was granted a restraining order. It was only after he left I discovered he’s not been paying the mortgage for almost a year. After around 9 months of court proceedings the house was repossessed. The bank then left it over 6 months before putting it on the market.
I have now received a letter (via email) from the banks solicitor stating that I need to sign the rx4 (I think) form and the 20k will be returned to me. I queried this and asked whether there would be any further monies due to split between my ex and myself. The reply was that they didn’t think so as there appears to be insufficient funds to recover their clients charge in full.
How does this affect my 20k? I was under the impression that the bank would take their money first? If so then I may not get the full 20k so how can they say the 20k will be returned to me?
Also what would happen if I didn’t sign the form?
Thank you so much if you got this far!
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