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split a house on separation

pollypocket1977
pollypocket1977 Posts: 1 Newbie
edited 12 August 2024 at 4:24PM in House buying, renting & selling
I put 40000 down on the house (from the sale of mine) with my partner as his money was tied up, I carried another 10000 for the renovations to the property. We burrowed 25000 from each parents until my partners money was available so we could start the work. 
Unfortunately the relationship hasn't worked. I ve been advised that because i put the deposit down from my home i will get that back then the equity will be divided equally. 
I have 2 children from a previous relationship i have to support and start again.

Comments

  • Keep_pedalling
    Keep_pedalling Posts: 20,316 Forumite
    Tenth Anniversary 10,000 Posts Name Dropper Photogenic
    Did you have a deed of trust drawn up when you purchased the house? If you didn’t then the default position is 50/50 and you are going to have to rely on the good will of you ex to get your full contribution back. 
  • gwynlas
    gwynlas Posts: 2,179 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Unless you hafd a deed of trust writen at the time of purchase you are reliant on the good will of your ex in splitting the sale proceeds. Were you advised by the solicitor you used when purchasing? Given the input from family was this formally recorded? In a divorce situation where the marriage was short the financial split arrangements generally return each person to their previous position.
  • Bookworm105
    Bookworm105 Posts: 2,016 Forumite
    1,000 Posts First Anniversary Name Dropper
    edited 13 August 2024 at 11:48AM
     I ve been advised that because i put the deposit down from my home i will get that back then the equity will be divided equally. 
    I have 2 children from a previous relationship i have to support and start again.
    advised by who?
    your previous relationship and children are irrelevant

    by "partner" I assume you mean you were not married?
    if that is the case then the law is not as clear cut as for a married couple. 
    The law says unmarried couples get back what they legally own - it would appear in your that means 50/50 of the house.

    if goodwill breaks down and you can't get what you think you are entitled to then you will need to take legal advice (and hope the court awards costs on top or it will be financially pointless chasing such a relatively small sum)

    " it is essential that legal advice is taken as soon as possible. It is governed under trust law, and legal advice should be taken at the earliest possibility to protect any rights each party has and prevent disposal of assets before those rights have been established.... two partners may jointly appear as legal owners of a home, but that does not necessarily mean that each owns an equal share."

    in the absence of an existing deed of trust, then your legal action is to show a:
     legally enforceable interest in the property by arguing that there is or has been a trust created

    Family Law Fact Sheet – Separation issues for unmarried couples fact sheet | Dicksons Solicitors

    Unmarried Couples Rights & Financial Provisions - Stewarts (stewartslaw.com)
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