Tenants in Common Dispute

Angusjon

Hello hope you can help.  Myself and my BF bought a house as tenants in common with a 50/50 split. We have a deed of trust.  However we have now decided to seperate and he wants the split to be 65/35  as he put more money into the house than I did.  This is true.  We both sold our own houses to buy one together...his house was worth more than mine so he was able to contribute more, plus he got bigger bonuses than me which he contributed.  However our reasoning behind going for a 50/50 split (both agreed) was if I sold my house and moved to a more affluent area (we did) and then anything happened, he died or split up, I could not afford to buy another house here (I have a job I love and friends so now don't want to move). since the split I continue to pay 50% of everything which he insisted on. We have no children together and all have moved out. I sound money grabbing as I haven't explained myself very well but I truly am not and actually am prepared to give him more just not the amount he is insisting on.  He is now threatening to take me to court to get more money.  I thought a tenants in common was a legally binding contract.  Can he do this...would he win. The fact that he signed a 50/50 split, I've paid 50% of the bills, now seperated i still pay 50% as he has insisted I do, can he now take a bigger percentage. Please help I just don't know where I stand and if this would hold up in court if he took me there.
Many thanks in advance.

Gycraig

It’s pretty much set in stone if no kids etc. he signed saying he owned 50% of the house when you bought the house he can’t just change that at a later date because it suits him now you are breaking up. 

My broker made this absolutely clear when we were picking how to have our mortgage. 

You could gift him extra if you wanted to but he isn’t entitled to it, he has signed a legal binding document say the house is owned 50-50. 

Angusjon

Thank you so much, I just understand why he is threatening me with court and insisting he could get more because he can prove he contributed more.  I love your idea about gifting him extra. 

Gycraig

It’s normally used to protect money so he should have done a deed of trust for the “correct” amount when you bought the house. 

sevenhills

When you say that you are still paying 50% of the bills, do you just mean the mortgage?
It would be unfair for you to be still splitting all the bills.
Could he get a lodger if money is tight?

TheJP

He can threaten you all he likes and prove he paid in more but the legal document he signed states you both have equal share of the property. I wouldn't gift him anything, let him take you to court but I'm sure he will be well advised that he will not get the outcome he wants.

Not to dig into your personal life but is his behaviour a result of you ending the relationship?

MobileSaver

Angusjon said:

He is now threatening to take me to court to get more money.

Just to be clear, anyone can take anyone to court for pretty much any reason but threatening and even following through is very different from winning at court.

Angusjon said:

He is now threatening to take me to court to get more money.  I thought a tenants in common was a legally binding contract.  Can he do this...would he win. The fact that he signed a 50/50 split, I've paid 50% of the bills, now seperated i still pay 50% as he has insisted I do,

Based on what you've said his chances of a court awarding more than 50% are practically zero (particularly as you are still paying half of everything) so legally he's on a hiding to nothing.

Perhaps you agree he's paid much more than originally anticipated or perhaps you caused the breakup so morally if you want to agree to give him a larger share then that's up to you.

Flugelhorn

sounds like he realises he made a mistake signing 50:50 but really he can't change that now 

dimbo61

So what is happening now ?
Are you both still living in the property ?
If your paying 50%of the mortgage and bills have you now got the property on the market ?

housebuyer143

Is it worth giving him the equity be paid in back in full and then you get yours back in full and split any profit 50/50?
That's probably the most amicable way to do it, but he did sign saying he only wants 50% so if you don't feel like doing him any favours then you do not have to give him anymore.

pinkshoes

Angusjon said:

Hello hope you can help.  Myself and my BF bought a house as tenants in common with a 50/50 split. We have a deed of trust.  However we have now decided to seperate and he wants the split to be 65/35  as he put more money into the house than I did.  This is true.  We both sold our own houses to buy one together...his house was worth more than mine so he was able to contribute more, plus he got bigger bonuses than me which he contributed.  However our reasoning behind going for a 50/50 split (both agreed) was if I sold my house and moved to a more affluent area (we did) and then anything happened, he died or split up, I could not afford to buy another house here (I have a job I love and friends so now don't want to move). since the split I continue to pay 50% of everything which he insisted on. We have no children together and all have moved out. I sound money grabbing as I haven't explained myself very well but I truly am not and actually am prepared to give him more just not the amount he is insisting on.  He is now threatening to take me to court to get more money.  I thought a tenants in common was a legally binding contract.  Can he do this...would he win. The fact that he signed a 50/50 split, I've paid 50% of the bills, now seperated i still pay 50% as he has insisted I do, can he now take a bigger percentage. Please help I just don't know where I stand and if this would hold up in court if he took me there.
Many thanks in advance.

I was in a similar situation with a 50/50 split but I was the one who paid the larger deposit.

BUT... I had a written agreement with my ex that should the property be sold due to splitting up, then any equity would pay back the original deposits (£30k me, £5k him) then anything left over would be 50/50. 

My ex honoured this agreement.

So yes, I do think you sound a little money grabbing, because although it says 50/50 on the paperwork and that is therefore what is legally yours, morally you know full well he put a much larger deposit down...

So how about do what me and my ex did - sell the house, pay the mortgage off, then you both get your original deposits back then anything in addition to to this (e.g. increase in equity since you bought) will be split 50/50 to reflect the fact you have both paid half the mortgage since the property was purchased. This would be fair.