Tenants in Common Dispute

Schwarzwald

To me the OP does not sound money grabbing.

More like:

I need help

We signed 50/50

I acknowledge my ex put more money forward for deposit and capex, but we split expenses 50/50

Now my ex demands 65/35 and threatens me with court

I want to act fairly but dislike him putting pressure on me

 

Having said that, I do like the idea of

Sell the house

Repay the mortgage

Repay whatever you both put down in deposits and house capex

Split gain 50/50

Move on with life

Gycraig

pinkshoes said:

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.

It’s not really money grabby is it he or she has uprooted there entire life to go be with this man. Built a full new life in this new place, why should she move away and start over when the partner agreed they would get half when they bought it.

I don’t get the “moral” issue the ex bf  has literally signed up for this and agreed to it as part of the process of buying the house.  they don’t get to throw the toys out of the pram when it doesn’t work out. 

I wouldn’t be giving up a job, all my friends and family to move AGAIN because my ex changed his mind on a legally binding document they knowingly signed. 

LHW99

He must have been aware when he signed the document that your initial contribution was less. So he can hardly argue over things now IMO

caprikid1

"I'm 54 fiance 59. We want to buy a house together. Partner has £375000 deposit towards house (he has sold his house). I will have £180000 once mine has sold. We have found house so he is going to get mortgage for shortfall until mine is sold then I will give him £180000 to pay off mortgage and then he wants to put me on house deeds and should worse happen we split house 50/50. Without sounding greedy I need this to happen because if we were to get divorced let's say in 10 years time, (we're planning on marrying next year) then if we had an agreement in place whereby I only get out what I put in plus 50/50 on if house prices went up, then I would still at best come out with £250000, at 65 which I would be then I wouldn't be able to buy a house, whereas if I kept my house in 10 years my mortgage would be paid off and I would have £400000. My question is before I sell and before he initially buys the house can we put in place an agreement where we agree to the 50/50 split which would be legally binding. Thank you for your help and advise."

By my calculations you are looking to profit £100,000 for a 2 year relationship. I do think you are being unfair and suckered him into this.

It was stated in the original thread that this felt unfair and you were talking about after 10 years.... now its around 2 years this really does feel unfair and money grabbing, nice guys always lose. 

propertyrental

He won't win in court, so ignore the threats.

If you feel morally obliged to pay anything more than 50/50, or simply want to, be careful what you say or, especially, put in writing.

Maybe wait till the property is sold/sorted, and then offer him whatever you feel is fair.

Gycraig

I thought it would be like 20k ish Damn what kind of idiot just signs away 100k like that. Seems almost premeditated even the original “explanation” of why it needs to be 50/50 sounds dodgy looking back. 

Legally and morally he’s a moron for signing up to it though. 

Schwarzwald

caprikid1 said:

"I'm 54 fiance 59. We want to buy a house together. Partner has £375000 deposit towards house (he has sold his house). I will have £180000 once mine has sold. We have found house so he is going to get mortgage for shortfall until mine is sold then I will give him £180000 to pay off mortgage and then he wants to put me on house deeds and should worse happen we split house 50/50. Without sounding greedy I need this to happen because if we were to get divorced let's say in 10 years time, (we're planning on marrying next year) then if we had an agreement in place whereby I only get out what I put in plus 50/50 on if house prices went up, then I would still at best come out with £250000, at 65 which I would be then I wouldn't be able to buy a house, whereas if I kept my house in 10 years my mortgage would be paid off and I would have £400000. My question is before I sell and before he initially buys the house can we put in place an agreement where we agree to the 50/50 split which would be legally binding. Thank you for your help and advise."

By my calculations you are looking to profit £100,000 for a 2 year relationship. I do think you are being unfair and suckered him into this.

It was stated in the original thread that this felt unfair and you were talking about after 10 years.... now its around 2 years this really does feel unfair and money grabbing, nice guys always lose. 

v helpful context
ages of parties involved rather surprising
why did your ex agree to signing 50% over to you unless he has so much wealth that he doesn’t care about some £100k?

Agree that a 100k gain for you after 2 years has a taste to it

Other aspects like reasons why you are breaking up at this age so shortly after moving in together maybe also worth considering, i.e. if you seek to split up and making 100k out of the separation …. yeah doesn’t feel morally like the right thing to do, unless you have good arguments why this should be considered fair?

Angusjon

sevenhills said:

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?

Yes we have a small mortgage. He's asked that I pay all bills and mortgage split 50/50. We will live together until house is sold 🙁 he's actually being very nice so I give him more which is fine.