Deed of Trust

nibnob1001

So me and my now ex Partner (cheater) bought a house together 2020. We paid pretty much equal investments into the initial purchase. During the 4 years we have renovated and are now selling. My xpartner is self employed as is insisting that I pay for his tax apportion which has afforded him a higher salary. We have an xls. sheet which he calls a deed of trust, nothing is signed in it, no paperwork to back it up. But the tax apportion is 38k he taking off my equity share? 

Questions are - surely an xls sheet titled deed of trust isn't a legal document.
Question - do I try mediation to sort this out.
Question - do I go to a solicitor if mediation fails.

Ultimately I have not agreed to paying his tax apportion which has afforded him a higher salary, I just want me fair share of the equity. It works out 1/3 is my equity and 2/3 is his equity share. 

doodling

Hi,

Did you both live in the house?  That will affect the tax position.

Deeds generally need to be signed and witnessed so it doesn't sound like it is a deed of anything.

Did you agree anything between the two of you with respect to what would happen if it was sold when you bought the property?

If you didn't agree anything then a 50/50 split would be the normal outcome.  If one of you has extra costs because of their own personal circumstances then that would the that person's problem.  If there is tax to pay (e.g. capital gains tax) on the sale of the house then that would come out if the capital before the split.

What is this tax apportion?  Is this related to doing up the house or is it something else?

Spendless

Also calling your ex your partner. Civil partner or married to or just live in boyfriend(s) /girlfriends(s)? 

Exodi

That's quite funny, my wife had a similar situation with her ex, where he'd banged up some document in Microsoft Word with his dad that he had her sign near the breakup which effectively suggested that she would forgo her equity to cover his ongoing living expenses. I genuinely laughed reading it, it's incredible the lengths people will go to after splitting apart. At the time, I spoke to my (now) wife about it (as he was insisting it was enforceable) and suggested he sues her if he thinks it's enforceable. Would you believe, the next day he agrees to the equity in line with their ownership.

My first question is are you married?

If not, how do you own the property? This would have been decided when you purchased the house. Either joint tenants (50/50) or tenants in common (where the split can be whatever you want, and is usually defined in a separate document called a deed of trust typically drafted by the solicitor and signed with witnesses at the point of purchase).

If you are not married and you own the house as joint tenants. Just tell him you are entitled to half the house and wait for him to come round (even if that requires him spinning his wheels, becoming abusive, making counter-offers and speaking to his solicitor to reach that point).

nibnob1001 said:

Question - surely an xls sheet titled deed of trust isn't a legal document.

No more than me creating an Excel document, renaming it 'title deed' and declaring myself the owner of your house. While a deed of trust does not technically need to be drafted by a solicitor (of course it's a good idea considering its cost relative to its impact), the bare minimum is that it is signed and witnessed. My Deed of Trust is 3 pages of text, for your information.

nibnob1001 said:

Question - do I try mediation to sort this out.

If you are unmarried and own as joint tenants, I wouldn't even bother. The default position is that you own the house 50:50. I wouldn't exert any effort to the contrary, your ex-partner is likely being opportunistic. 

nibnob1001 said:

Question - do I go to a solicitor if mediation fails.

Again, I wouldn't bother since your position is the default position. If he intends to argue that his spreadsheet is how the equity should really be split, then let him waste money on a solicitor.

Obviously if you are married or owned as tenants in common, then the above does not apply.

Hoenir

nibnob1001 said:

We have an xls. sheet which he calls a deed of trust, nothing is signed in it, no paperwork to back it up. 

Then you go for a 50/50 split. There's nothing to be discussed.