Loan for deposit l

AndyFife77

Hi, I need some guidance with something, please. My wife and I are separating and she is buying me out the house but is also taking back £15000 which her father gave to us as help with the deposit. Her reasoning is that it was her father who have the money and it has nothing to do with me? The house is also not being sold. Do I have any rights with regards to to this? Any help appreciated. Thank you 

The_Unready

What was agreed between you when you bought the house, and are there any formal documents that state how the money should be treated if you separated?

AndyFife77

Nothing was signed etc but we did say if something was to happen and the house sold then the money would be returned. I’m happy to meet 50/50 as that is far but that has also been rebuffed. She said her Dad gave her the loan and not us but I’m liable for it now.

elsien

If the house is not being sold, have you had a proper valuation by a RICS surveyor, rather than a few quotes from local estate agents?

if there was no formal agreement at the time then legally, she probably hasn’t got a leg to stand on, however morally speaking you did agree at the time it wouldn’t be taken into account which you are now reneging on, 
what about all the other assets that might be in the pot? – savings, pensions, et cetera? Does that balance anything out?

AndyFife77

The house has been valued and she is taking out a loan for my share. She is remaining in the property.

prettyandfluffy

AndyFife77 said:

Nothing was signed etc but we did say if something was to happen and the house sold then the money would be returned. I’m happy to meet 50/50 as that is far but that has also been rebuffed. She said her Dad gave her the loan and not us but I’m liable for it now.

Morally I think half of the loan was to you as half of the couple; I cant see why all of it would be down to you as she seems to think? Legally, if there's nothing in writing I don't think you can be held to anything.  However I'm not an expert that is just my opinion.

saajan_12

AndyFife77 said:

Nothing was signed etc but we did say if something was to happen and the house sold then the money would be returned. I’m happy to meet 50/50 as that is far but that has also been rebuffed. She said her Dad gave her the loan and not us but I’m liable for it now.

Do you mean she is saying either
a) FIL loaned the 15k (to you both) and you both have to pay it back out of the house sale; or
b) FIL gave the 15k  (to her) and that share of the property value is hers, with the rest split 50/50; or
c) both

It sounds like you're saying both, which sounds more harsh. If its either a or b then that's perhaps not unreasonable, but depends on what you agreed. 

elsien

AndyFife77 said:

The house has been valued and she is taking out a loan for my share. She is remaining in the property.

Valued by who? Because that may make a difference.

_Penny_Dreadful

AndyFife77 said:

Hi, I need some guidance with something, please. My wife and I are separating and she is buying me out the house but is also taking back £15000 which her father gave to us as help with the deposit. Her reasoning is that it was her father who have the money and it has nothing to do with me? The house is also not being sold. Do I have any rights with regards to to this? Any help appreciated. Thank you 

If there is no declaration of trust ring fencing that £15,000 or any documentation stating it’s a loan I think your wife is on a hiding to nothing. Was the FIL asked to sign something by the mortgage lender at the time you bought the house declaring that it was a gift? 

martinbainbridge1975

forgive me for sounding thick here but what I can't get my head around is how you are or can be liable for the full amount of a 15000 loan that the father in law gave his daughter and not you.  smells a bit fishy to me