Partner wants to buy me out

06hallja

Hello,

 

Sadly 6 months after buying my first property with my partner, she has fallen out of love with me.

She now wants to buy my share in the property with her brother. I own a 30% share in the property she has the remaining 70%.

We purchased the property for £146000, I had a deposit of £1500, she had £5800. I was given £2400 from a family member which we shared to start our Isa’s.

We split the mortgage and all the bills in half, we both paid money into a joint account.

Her brother moved in with us and has been paying rent of £200 a month.

How much money am I entitled to? Can I just name a price?

As you can imagine this is very raw for as it has only come around in the last week.

Thanks in advance.

SpiderLegs

After just six months and not massive amounts probably best to be pragmatic. Maybe start at four grand but be happy to settle for half that?

up to you really and what you’re comfortable with.

ACG

You can ask for whatever you like. Whether the ex will pay it is another matter.

Obviously I dont know the details, but you cant really blame someone for falling out of love with you, better they are honest with you and tell you than cheat on you left right and centre or worse, stay together. 

The figures do not really stack up from you say, you put in £1500 but were also given £2,400. That to me sounds more like £3,900 and I assume in term that then means your ex put in a smaller deposit as you basically contributed towards part of her ISA/deposit. 

You need to be realistic but at the same time, not be a door mat. I would just take whatever you put in/were gifted to avoid any hassle. If you cant agree on that, how far off are you? If not a million miles then take it to draw a line in the sand and be free from a nightmare situation. 

cii4ps

06hallja said:

Hello,

 

Sadly 6 months after buying my first property with my partner, she has fallen out of love with me.

She now wants to buy my share in the property with her brother. I own a 30% share in the property she has the remaining 70%.

We purchased the property for £146000, I had a deposit of £1500, she had £5800. I was given £2400 from a family member which we shared to start our Isa’s.

We split the mortgage and all the bills in half, we both paid money into a joint account.

Her brother moved in with us and has been paying rent of £200 a month.

How much money am I entitled to? Can I just name a price?

As you can imagine this is very raw for as it has only come around in the last week.

Thanks in advance.

It's a tenants-in-common setup or the 30/70 split is just an agreement between the two of you? Are you asking for the limits of what you can get or want to get a feel for what others would ask? How about this:

A] 30% of increase home value (over the 6months) + money put in + inflation
B] Money put in + inflation
C] 50% of increase home value (over the 6months)   + money put in + inflation

The money you put in is your deposit + family gift + 6 months of your portion of mortgage paid. For inflation you can go with 3% over the period. Don't forget any £ you've spent in and on the house as well.

monetxchange

Do you actually officially own 30% and your partner 70% or is that an agreement you've come to? Is it documented or part of the mortgage? As previous posters have said, you weren't that far apart in terms of deposits when you add in the money you shared.

I hope you can come to an amicable solution. It's just an awful situation when you break up and you live together, been there. I know it's still raw and not romantic etc, but for your own future financial well being it's essential to protect your own self with things like agreements trust deeds etc if you are in this situation again. Keep your chin up and good luck with it all.