Benefits of interest in house

Acedrive

Hi all,
How does the stand if two people decided to purchase a property but only one holds the mortgage in their name and then the relationship breakdown and they choose to spilt up,
example, A holds the mortgage on their name, B supplied the deposit for the mortgage and pays half the mortgage costs and half of all bills, B provided the funds to do the house up so they could move in, A contributed to some renovation work and bought household appliances via credit card funds.
What can be a fair and legal outcome?,
B did suggest a declaration of trust before purchase but A wasnt keen to do that!

getmore4less

B supplied the deposit for the mortgage 

Did the lender know about this?
Were they happy  or ask for  a declaration it was a gift

fair
is what you agree and will depend on the numbers .

Issues
might be you can't agree on the numbers.
or the only exit ois sell and A refuses and can't afford to buy out the share.

Thrugelmir

 "A" holds all the cards. "B" presumably gifted the deposit to "A".  Which would invalidate the declaration of trust in place if there were one .There's no legal outcomes. As there's no rights for "B". 

comeandgo

Legally, A holds all the cards, fairly, B should get all the monies back they put in and the value left is A,s.  

MWT

How long ago was the house purchase?

Are there any children involved?

Presumably B is not on the deeds?

[Deleted User]

I just gifted a fair sum to my son to buy his place. I had to swear a stat dec saying I had no interest in the house. That was to protect A and the lender. 

Did B do that when B give A the deposit ? 

Acedrive

B couldn’t go on the mortgage because of a new business and no accounts, deposit was not a gift A didn’t have the funds

Acedrive

House purchased less than 10 months ago, no children involved and B not on property deeds

getmore4less

What did the lender get told about the deposit?

Unless A is going to sell as it looks like they have no money  B is stuffed 

Thrugelmir

Acedrive said:

B couldn’t go on the mortgage because of a new business and no accounts, deposit was not a gift A didn’t have the funds

How was the deposit source declared to the lender? 

MWT

Acedrive said:

B couldn’t go on the mortgage because of a new business and no accounts, deposit was not a gift A didn’t have the funds

Acedrive said:

House purchased less than 10 months ago, no children involved and B not on property deeds

Sounds like A failed to declare the source of the deposit, is B 100% certain that nothing was signed by them in relation to the house purchase, or is there something that was signed which confirms the money for the deposit wasn't a gift?

... and for the record, with the right lender there was nothing stopping B going on the mortgage, it is just that the lender wouldn't have taken any of B's earning into account for affordability...

In short, B is in trouble unless A decides to be reasonable as pretty much everything that could have been done wrong, was done wrong..