having trouble getting my name off the deeds

furby-2003

saajan_12 said:

furby-2003 said:

macman said:

Basics: how is the property owned? Joint tenants, or tenants in common? If the latter, is it a 50/50 split?
Being 'on the papers' doesn't really tell us the situation.

I thought i said sorry we jointly own the property my name is on the deeds with his. Thats the issue I have. Im trying to take my name off so I'm not considered to be buying a second property. 

I know it should be a 50/50 split - If you're joint tenants, then you both own the whole house (100%) together, its not the same as Tenants in Common with a 50% share each. Now 50/50 may be taken as the starting point by a court, but that's not guaranteed. 

My partner dad (no longer with us) paid £70k deposit on our house and made us both agree 12 years ago that if we split the house would be sold and his parents would get thier split back.  - to check, was it 70k or 60k from his parents?

this was just a piece of paper done by his dad at the time. I still have it but I don't know if they do. Thing is i suppose with him not selling the house does that piece of paper even stand. - I guess you could see it as [you+partner] are jointly selling the house to [partner] alone. Ultimately if the difference was enough then partner would sell if needed to trigger that agreement, so you end up in the same place. 

She is insisting that he will give her the deposit back and the £60k he is borrowing to give me but I really don't see how he's going to do this.  

He rents out 3 flats as his job he left a high paying job 2 years ago to do this and we went from a £70k income to a £20k income. He put more bills on me like paying for food but my wages haven't changed in years so it pushed us to the brink. I fell more and more in debt because he was making my pay more bills than before and we have very little food in the house now because of this. This is another of the reasons for the split. - sounds difficult, but forget about that now, its part of the decisions a couple makes and not really relevant anymore (for the property sale issue at least.. might be for the kids custody, i don't know)
So on an income (which isn't classed as an income in the eyes of most lenders as far as i know) I doubt he will pay her the money back. In fact shes in her late 70's and unwell unfortunately. In my eyes I don't think this will actually happen as everything will go to him in the end anyway. - not really anything to do with you, he could 'pay her back' and get another loan / gift from the mother for him alone in the same moment. 

I was basicly told I should be happy with what im getting and they will see me in court if i try for 50/50. He's saying because I didn't pay the mortgage myself (i have been responsible for other things including everything to do with the children) and he can proove he was the one that paid it off in the end that it doesn't entitle me to the shared you would normally get. - How long have you lived together and paid the morgage / bills together? You'd probably be treated as splitting bills as a family, but the deposit amounts are different. 

Perhaps clarifying the numbers we're talking about will help understand the potential upside / downside, to direct your next steps. Please correct the below if wrong:

* Property value £220k
* Selling costs £4k (EA, solicitors etc)
* Loaned deposit from partner's parents £70k (based on the doc signed, not unreasonable to pay this back)

Net proceeds £146k, so half would be £73k. 
Compared to the offer, you're talking about £13k to fight about

If you force a sale, then court costs, solicitors and the time it takes (when you could be working instead) could be £5-10k. It could also take 1-2 years, during which you either stay put (is that feasible for your / your kids' mental health ?) or you buy elsewhere and pay the extra SDLT. You could get that back if you come off the deeds for this property within 3 years, but there's a risk, and you lose the interest on that money in the meantime (you could invest that instead). 

So if you can get £60k immediately without those costs and the resulting stress, then its not too much worse off than you'd be otherwise. Of course that depends on how immediate that 60k is.. if his priority is to keep the house, perhaps you can put some skates it by saying you'll apply to court to force a sale, and ask for 50%, which he can't buy out so it'lll have to be sold. Fill in and send the application to him, then once that sinks in, say you're willing to settle for £60k within 2 weeks, to facilitate your house purchase, but if that falls through you'll go back to the court route. 

Thanks. You have really hit the nail on the head with all of this and really put it into perspective!. 

I think the answer is put the frighteners on him to put a bomb up his butt so he will give up the name of a solicitor so i can get my name off the deeds for the £60k and not go through all the rigmarole above of fighting him for possibly not much more! I just need to keep working on him without the apparent nagging lol

saajan_12

furby-2003 said:

saajan_12 said:

furby-2003 said:

macman said:

Basics: how is the property owned? Joint tenants, or tenants in common? If the latter, is it a 50/50 split?
Being 'on the papers' doesn't really tell us the situation.

I thought i said sorry we jointly own the property my name is on the deeds with his. Thats the issue I have. Im trying to take my name off so I'm not considered to be buying a second property. 

I know it should be a 50/50 split - If you're joint tenants, then you both own the whole house (100%) together, its not the same as Tenants in Common with a 50% share each. Now 50/50 may be taken as the starting point by a court, but that's not guaranteed. 

My partner dad (no longer with us) paid £70k deposit on our house and made us both agree 12 years ago that if we split the house would be sold and his parents would get thier split back.  - to check, was it 70k or 60k from his parents?

this was just a piece of paper done by his dad at the time. I still have it but I don't know if they do. Thing is i suppose with him not selling the house does that piece of paper even stand. - I guess you could see it as [you+partner] are jointly selling the house to [partner] alone. Ultimately if the difference was enough then partner would sell if needed to trigger that agreement, so you end up in the same place. 

She is insisting that he will give her the deposit back and the £60k he is borrowing to give me but I really don't see how he's going to do this.  

He rents out 3 flats as his job he left a high paying job 2 years ago to do this and we went from a £70k income to a £20k income. He put more bills on me like paying for food but my wages haven't changed in years so it pushed us to the brink. I fell more and more in debt because he was making my pay more bills than before and we have very little food in the house now because of this. This is another of the reasons for the split. - sounds difficult, but forget about that now, its part of the decisions a couple makes and not really relevant anymore (for the property sale issue at least.. might be for the kids custody, i don't know)
So on an income (which isn't classed as an income in the eyes of most lenders as far as i know) I doubt he will pay her the money back. In fact shes in her late 70's and unwell unfortunately. In my eyes I don't think this will actually happen as everything will go to him in the end anyway. - not really anything to do with you, he could 'pay her back' and get another loan / gift from the mother for him alone in the same moment. 

I was basicly told I should be happy with what im getting and they will see me in court if i try for 50/50. He's saying because I didn't pay the mortgage myself (i have been responsible for other things including everything to do with the children) and he can proove he was the one that paid it off in the end that it doesn't entitle me to the shared you would normally get. - How long have you lived together and paid the morgage / bills together? You'd probably be treated as splitting bills as a family, but the deposit amounts are different. 

Perhaps clarifying the numbers we're talking about will help understand the potential upside / downside, to direct your next steps. Please correct the below if wrong:

* Property value £220k
* Selling costs £4k (EA, solicitors etc)
* Loaned deposit from partner's parents £70k (based on the doc signed, not unreasonable to pay this back)

Net proceeds £146k, so half would be £73k. 
Compared to the offer, you're talking about £13k to fight about

If you force a sale, then court costs, solicitors and the time it takes (when you could be working instead) could be £5-10k. It could also take 1-2 years, during which you either stay put (is that feasible for your / your kids' mental health ?) or you buy elsewhere and pay the extra SDLT. You could get that back if you come off the deeds for this property within 3 years, but there's a risk, and you lose the interest on that money in the meantime (you could invest that instead). 

So if you can get £60k immediately without those costs and the resulting stress, then its not too much worse off than you'd be otherwise. Of course that depends on how immediate that 60k is.. if his priority is to keep the house, perhaps you can put some skates it by saying you'll apply to court to force a sale, and ask for 50%, which he can't buy out so it'lll have to be sold. Fill in and send the application to him, then once that sinks in, say you're willing to settle for £60k within 2 weeks, to facilitate your house purchase, but if that falls through you'll go back to the court route. 

Thanks. You have really hit the nail on the head with all of this and really put it into perspective!. 

I think the answer is put the frighteners on him to put a bomb up his butt so he will give up the name of a solicitor so i can get my name off the deeds for the £60k and not go through all the rigmarole above of fighting him for possibly not much more! I just need to keep working on him without the apparent nagging lol

Well thats what I mean, rather than 'keep working on him', make it clear that you have a right to the £73k, and since he can't afford that, the house will actually have to be sold (also incurring moving costs, court costs, new stamp duty etc for him). 

You are willing to accept £60k as a time limited offer for quick settlement. If it goes beyond X date, your purchase will fall through and you'll have no incentive to settle so you'll just go to court + full amount you're owed. 

elsien

You keep talking about getting your name off the deeds, but still you haven't said whether there is a realistic possibility of him getting the mortgage on the property on his own?
He can only give you your 60K and pay the 7OK loan back if he has the money to give. Does he?

furby-2003

elsien said:

You keep talking about getting your name off the deeds, but still you haven't said whether there is a realistic possibility of him getting the mortgage on the property on his own?
He can only give you your 60K and pay the 7OK loan back if he has the money to give. Does he?

He refuses to move out. So it completely rules that out

elsien

furby-2003 said:

elsien said:

You keep talking about getting your name off the deeds, but still you haven't said whether there is a realistic possibility of him getting the mortgage on the property on his own?
He can only give you your 60K and pay the 7OK loan back if he has the money to give. Does he?

He refuses to move out. So it completely rules that out

I don't understand what him moving out has to do with anything?

You need to have your name taken off the mortgage otherwise you continue to be equally liable. To do that, and to have the house just in his name, he has to be accepted for a mortgage just on his own income.  
Is that likely to happen? 

furby-2003

we haven't got a mortgage. Sorry it was somewhere near the beginning. Its paid for. 

elsien

Ah ok, sorry, I missed that. 

furby-2003

I did manage to get a name of a solicitor last night. The name of the firm anyway. When I asked him the first time and he asked me to move solicitors because he wasn't happy i used his but he also wasn't happy I moved so he could use his I gave him another in the local area. He said after that discussion he went there and sorted it and he's got to go back into the office for a meeting. I haven't had to do that with either of mine i've just filled the paperwork and did everything online so we will see. I've already emailed mine the name so hopefully he has actually spoke to them and hes not just trying to fob me off. why he couldn't have told me this at the time I don't know. Still somehow managed to cause a massive row where he said why am I in such a hurry. I don't think he understands. So he ended up at his moms until midnight again after walking out. oh well at least I have the name. I just hate the fact that every time I need something from him it causes a massive row!

Reginald74

He sounds like a typical narcissistic mummies boy.  Thank God you're escaping. They do seem to be everywhere.

Just be careful he isn't entitled to some of the flat equity.  You need decent legal advice, which will pay for itself in the end.

furby-2003

Thats exactly what my parents have called him for years! When ever theres a problem he runs there and of course she will side with him no matter what. Even when its blindingly obvious hes in the wrong. But hey at least i can learn my boys won't be like that!