Split from Partner - Money Issues and House Problem

tightauldgit

Brie said:

Not sure if this will work or not but my suggestion would be to get the house valued now he's moved out and get something signed to say that he only gets 50% max of that value, not what it might sell for in however many years time.  This might work if you are both reasonable individuals ("divorces" can bring out the worst in people as we all know) and you are the only one paying the mortgage.  The bank won't care that he's not paying or not living there or is considered to have a lesser interest in the house as long as someone is meeting all the payments.  

You may also want to ensure that you have a will in place (& him too one would guess) to ensure "your" portion doesn't go to him should the worst happen.  

Why on earth would anyone agree to that? If he owns half the house he owns half the house and while he's on the mortgage paperwork he's fully liable for the mortgage as well. Why would he sign away his rights?

HampshireH

OP you keep saying he should t get anything as he hasn't contributed but he has contributed because you acknowledge you bought it 50)50 with some form of shared deposit. 

Unless you are saying he has NEVER contributed financially to the purchase and payments of the property then of course he is entitled to his share.

I'm not aware of any obligation he has to ensure you and the children remain in that house.

Of course as a parent your children have to have a roof...... But not that one

GrumpyDil

You definately need to try and work together on this one but being fair to both of you. In theory if he could afford it he could keep paying the mortgage but with you paying him rent for his '1/2' of the house which he is perfectly entitled to occupy but isn't.

In practical terms, unless there is no option, I think you should sell, split proceeds and both start again if that is possible. If not you have to find a way where you can both afford to live within whatever arrangemt you come to.

RAS

Sadly, even if he never contributed financially, or by enabling financial support, he is entitled to half the sale price if it's a joint tenancy. Unless is tenants in common with a deed of trust stating a different split.

He might agree to a slight variation if it means his children are better housed, but there is no legal obligation unless this was a divorce.

Stateofart

it's tricky as you are not married.  For one, you can't keep him on the mortgage just because you can't afford to keep the house and need to keep him on the mortgage until 18 and then sell.  That's not fair.  He won't be able to move on until that happens.  A judge may suggest that the child lives with you, but that doesn't mean in that house.  Most people who are not married in this position sell and divide assets, then sort out living arrangements.  This means you can both move on.

pinkshoes

corkyefes said:

Good afternoon,

I was wondering if anybody could offer some advice on my situation.

I have split from my partner and we have two kids and a mortgage together.
My partner has told me that he is struggling for money and struggling to pay his bills and we may have to sell the house.
I know however he cannot force me to sell until my second child is 18 (Please correct me if I'm wrong).

He is currently paying me child maintenance privately and I have thought about helping him out by saying he doesn't need to pay it.
However, I then don't think it's fair that I pay for the mortgage alone and he reaps the benefit of any profit we make, when we do eventually sell it.

Is there anything I can put in place (with a solicitor for example) to say that he doesn't get any of the money when the house is eventually sold, because hes not contributed? 

I cannot take him off the mortgage because my lender says I cannot do it based on my affordability and also, I cannot 'buy out' my partner, as I cannot afford a new mortgage also. But I'm worried that if he declares bankruptcy, I will be forced to sell the house anyway.

Any advice is very much welcomed!

So are they just your kids or his too? (as you use the expression MY child not OUR child but say you have two kids together).

Sorry to be harsh but you need to be realistic here. Separating means two different households to pay for and clearly the current situation is unaffordable.

You mention about paying the mortgage alone and not wanting him to have any of the equity increase, but don't forget he is now having to pay full rent on his own and cannot buy another house to benefit from equity increase as he is stuck on the mortgage with you. This works both ways.

Your options are:

1. Sell the house and split the equity 50/50 so you can both buy/rent somewhere else. 

2. Get yourself a higher paying job so you can take the mortgage on your own. Is this feasible?

If you can't afford to buy out his share of the equity then you will have to see if he will agree to having a charge placed on the house for half the equity at the current price. He might not want to do this though, so do you have a parent that could lend you the money?


You are right about the bankruptcy bit. If he cannot afford to live and stops paying the mortgage then the house will be repossessed. You BOTH need to be able to afford to live. 

The option of keeping the house until the kids are both 18 is clearly not feasible so unfortunately you need to accept this luxury is not really an option.