Cohabitation and separation

kmoggy2007

Hi can anyone who’s separated from a partner and have property together shed some light on how that property is split? ESP in Scottish family law 
The situation is as follows: 

non married for 8 years, kids involved: 
bought a house for 248k now worth 300k, him 10k deposit me 65k dep, paid mortgage for 28months 8906k each: my family then paid 173k to clear the mortgage:  what’s a fair split?  I want to buy him out if I can afford it, he wants 150k or 120k at very least. My Max is around 80k and the kids get to stay here and are well looked after.  

In Scottish law there is no automatic claim to anything so rather a series of negotiations. Trouble is how do we get to that agreement as both so different in outcomes. He argues that the 173 was a gift to us both and I say well it’s my family so technically it was a gift in kind to me. 

Anyone spilt from a partner and how was the house spilt? 

sassyblue

Well you put in 6.5 X against his money do I’d want to give him as little as possible too.

you’re 40k apart or 20k if you split it. How much will it cost to pursue this? 

RAS

I suspect that it was a huge mistake for your family to pay off the mortgage. you'd be looking at 40-60k otherwise.

Keep_pedalling

Just because the gift came from your family it does not make it a gift to you alone. It was a joint mortgage that was payed off so it was a gift to both of you.

The less equity he gets out of this the more he will have to pay from his income for his own living arrangements, and therefore the less he will be able to afford in child maintenance, so it is going to be a tricky balancing act both of you.

comeandgo

House is owned 50/50 so he is entitled to half of the value.  If you had wanted it any different you should have involved a solicitor in setting up repayment structure if partnership dissolved.

TBagpuss

Have you spoken to a solicitor? https://www.thorntons-law.co.uk/for-you/thorntons-family-law-divorce-solicitors/cohabitation-rights-in-scotland suggests that a court might have a bit more leeway than they do in England to decide a division of the house , and if you are £40-70K apart then spending a few hundred pounds to get some professional advice early on would seem worth while. 

tightauldgit

kmoggy2007 said:

Hi can anyone who’s separated from a partner and have property together shed some light on how that property is split? ESP in Scottish family law 
The situation is as follows: 

non married for 8 years, kids involved: 
bought a house for 248k now worth 300k, him 10k deposit me 65k dep, paid mortgage for 28months 8906k each: my family then paid 173k to clear the mortgage:  what’s a fair split?  I want to buy him out if I can afford it, he wants 150k or 120k at very least. My Max is around 80k and the kids get to stay here and are well looked after.  

In Scottish law there is no automatic claim to anything so rather a series of negotiations. Trouble is how do we get to that agreement as both so different in outcomes. He argues that the 173 was a gift to us both and I say well it’s my family so technically it was a gift in kind to me. 

Anyone spilt from a partner and how was the house spilt? 

When it comes to the law I don't think you will get any mileage in arguing that the gift was to you only. Once it went into the equity in the house it became a shared asset. It doesn't necessarily mean that a court would split it 50/50 as there will be other factors to take into account but 50/50 is a reasonable starting assumption. You might have a bit of mileage in arguing that your 65k deposit was pre-relationship assets and that should be taken into account but after 8 years and kids etc I'm not sure how much that would be a factor.

If that's really all that's a source of disagreement then it might be worthwhile both of you settling somewhere in the middle rather than go through the expensive process of getting solicitors and courts involved 

My guess is that you aren't going to be able to buy them out for 80k and you also have the question of their needs to rehouse themselves, how much they can borrow, what their earnings are, etc. If you think you could meet in the middle at £100k I'd seriously consider that if I were you.