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Legal and Solicitor fees for house sale after divorce
scuffy
Posts: 22 Forumite
Following my divorce and being awarded 100% equity in the jointly owned main residence property that has a buy to let mortgage on it, when it comes to the sale, are each party responsible for half of the legal fees, solicitor costs and anything else associated with the sale?
I am concerned that my ex-husband seems to think these will all be paid from the profits. The Court agreement states that the mortgage will be cleared and that 100% of the balance is mine. The mortgage is a buy to let and there are Capital Gains to be paid, again is he liable for these from his own finances not my equity from the property.
thank you
I am concerned that my ex-husband seems to think these will all be paid from the profits. The Court agreement states that the mortgage will be cleared and that 100% of the balance is mine. The mortgage is a buy to let and there are Capital Gains to be paid, again is he liable for these from his own finances not my equity from the property.
thank you
0
Comments
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I would have expected the court order to set out how costs were to be split, but if you own 100% of the equity then it would seem fair for you to pay 100% of the legal costs in selling the property. Talk to your divorce lawyer.
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I have contacted my solicitor but he is away at the moment and I need some info before he comes back.
I can see your point. The 100% of equity was agreed by the ex as he couldn’t pay me back for other costs he left me liable for. I am also indemnified against any past or present debts that may arise, therefore, if it’s a jointly owned property and we’re no longer married it would seem harsh to expect me to pay all the fees, ie half should be his debt. I only receive the equity once the mortgage is clear so I wouldn’t expect to pay for his debt from my money. The agreement doesn’t not specify anything other than everything will be done jointly.0 -
I agree that it seems logical for you to pay the fees as you are effectively becoming the sole owner (and then selling and keeping the entire equity).The Capital Gains Tax issue is less straightforward - when the property was let, where did the income go?0
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It is being sold while still jointly owned not solely as mine.
regarding CGT, the income went to my husband.0
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