Seperating - Joint tenants

MandyMcG

My ex-partner and I bought a house together as beneficial joint tenants in the Spring time of this year.

She paid less than 1% of the deposit, and made no contributions to the mortgage or upkeep costs despite making more money than me.

We are now in the painful process of seperating. Does she automatically get 50% of the equity in the house, or can I argue that she should get substantially less.

She is a solicitor with a big city law firm, and didn't explain to me the differences between tenants in common, and joint tenancy.

I'm speaking to a family law solicitor next week, but would appreciate any advice before then

Thank you

localhero

You really should have bought as tenants in common, in which you own a specific share of the property.

As things stand you collectively own the property, which means upon the death of one co-owner, the other(s) automatically becomes the legal owner.

From the information you have provided, by virtue of her (albeit small) contribution towards the deposit, she will have an equitable (or beneficial) interest in the property. So if her contribution amounted to x % of the value of the property, then she will own x % of the value now taking into account whether it has risen or fallen in value.

It should be relatively straightforward to calculate, and for you to either sell the property and divide the proceeds or more likely for you to raise the amount and to pay her off.

Your convyancer really should have told you the difference between tenants in common and joint tenancy, and I feel has been negligent. Since with the right information and advice, it's likely you wouldn't have a slightly messy and expensive situation to sort out.

Good luck next week.

kunekune

If you are both on the title and it does not specify your shares, the starting presumption will be equal shares. However, it is open to you to show that this does not reflect the true position, and the fact that you have contributed almost all of the cost/paid the mortgage will be relevant. But be aware that the burden of proof lies on you, and court is expensive, so you may need to be prepared to reach a settlement. Also, as your ex will be well aware, cases like this should they reach the court system are dealt with in terms of 'constructive trusts', so that the final split may take into account more than your initial cash contribution. I hate to say this, but I think you need to talk to a lawyer ....

nollag2006

How long were you guys together also ?

Were you married?