Mortgage release & moving on

[Deleted User]

House bought in 2008 with ex husband. My name still on deeds.  
 I put 10k deposit into mortgage originally gifted by parents and ended up moving out in 2010 and no longer contributed to the mortgage.  The property has been in negative equity since and is now in about 20k of equity, half if this to go to coownership.  Am i in a position to seek a portion of this equity and in my shoes would you?

dimbo61

Well your name is still on the mortgage and you still own 50% of the house.
Can your EX now afford to either sell this house or remortgage to take full ownership of the house ?
You want to move on with your life after 10years of being tied to your EX.

[Deleted User]

Yes he is remarried and im assuming has waited until equity in the house to sell but has asked me to confirm i dont expect anything from it when it sells.

dimbo61

Tell him you expect the £10,000 your parents gave you as the deposit.
You could also ask for a share of the profit the house has made in the last 12 years once the £10,000 has been repaid to your parents.
He/YOU  will have paid off some of the mortgage debt over the last 12 years.
If you know the figures use " whatsthecost " to work out how much he has paid over the last 12 years and look at how much would have been paid off in the first 2 years when you lived together as Man and Wife
Simple really or post the details of the mortgage.
Call the lender and ask ! You have a right to know 😉

dimbo61

You have not paid towards the mortgage for the last 10 years.
However he has had the enjoyment of the house and could have moved a lodger into the spare bedroom or new partner into his bedroom to help pay the mortgage and other costs of property ownership.
He might well have built up considerable equity in the house.
Your call on what you want 😊

[Deleted User]

You make it sound simple yet i know his argument will be that i left the home stopped paying anything towards it and he has pulled it out of negative equity in the last 10 yrs.  I wont see the 10k again as there is probably only 10k equity in it.  however i feel like i want something from it considering the deposit came from me.

[Deleted User]

He has had a tenant living there for most of the time yes you are correct and his wife has also lived there since 2017. 

Anamox

Probably not worth the fight. He can put it on the market and put off every viewer that comes to the property if he thinks you're going to try and force his hand... a house without a buyer doesn't have any equity due to be released! He is also probably quite happy living there so not bothered by the lack of sale or lack of equity release.

Unless you have a deed of trust that you both entered into outlining who gets what in this situation then it technically means you should get 50/50 but enforcing this is incredibly tricky unless you both agree.

Your other option is going to a court and proving that he's either disrupting the sale or taking what isn't his (50%) but 1) it'll probably cost more upfront than the equity you want to receive, 2) you'd have to prove to the judge that you have attended official mediation with him to attempt a civil out-of-court solution (or that he refused mediation) and 3) the judge might not agree with anything you say and agree with him instead leaving you with an expensive legal bill and no equity.

I'm in a similar position to you and now have met several others and we'd all agree that it just isn't worth the fuss in the end.

[Deleted User]

emmafairygirl said:

House bought in 2008 with ex husband. My name still on deeds.  
 I put 10k deposit into mortgage originally gifted by parents and ended up moving out in 2010 and no longer contributed to the mortgage.  The property has been in negative equity since and is now in about 20k of equity, half if this to go to coownership.  Am i in a position to seek a portion of this equity and in my shoes would you?

When you divorced was there a financial order drawn up at the same time?  If yes then how was the property dealt with? If not then why not as you really need one to fully be able to move on from your ex?