What is my entitlement or percentage

littlebigshoe

got that now thankyou for your help so does that mean its now 50/50 im presuming she will have greater % than50% for the years she made whilst she made the payments so me kids will have a greater %? at some point i need to explain this to me kids im also wondering if theres going to be an easy way to transfer the lot to them. earlier rather than later.

Flugelhorn

littlebigshoe said:

got that now thankyou for your help so does that mean its now 50/50 im presuming she will have greater % than50% for the years she made whilst she made the payments so me kids will have a greater %? at some point i need to explain this to me kids im also wondering if theres going to be an easy way to transfer the lot to them. earlier rather than later.

the amount is I think considered to be 50:50 unless there was a deed or agreement for it to be something different. It doesn't automatically change because of paying in more.

Auti

Just to say if you are on benefits it might be seen as deprivation of money if you transfer your share (if there is one) to the children.

silvercar

Sounds like you will own it 50:50 with your children and there is a 9k outstanding mortgage. 

What do you and the children want to happen? Are any of them living in the property? You don't need to make any decisions urgently. Providing between you all you can cover the mortgage, you could keep the status quo going until such a point someone needed their share of the proceeds. Given you have been living elsewhere, this is less likely to be you and more likely one of the children wanting their share of the property to buy for themselves or for some other purpose.

Keep_pedalling

littlebigshoe said:

got that now thankyou for your help so does that mean its now 50/50 im presuming she will have greater % than50% for the years she made whilst she made the payments so me kids will have a greater %? at some point i need to explain this to me kids im also wondering if theres going to be an easy way to transfer the lot to them. earlier rather than later.

Nothing stopping you gifting your share to your children but there are a couple of financial complications, the first being the outstanding mortgage and the second I’d that you are likely to have a CGT liability on your share of the property. 

MWT

littlebigshoe said:

got that now thankyou for your help so does that mean its now 50/50 im presuming she will have greater % than50% for the years she made whilst she made the payments so me kids will have a greater %? at some point i need to explain this to me kids im also wondering if theres going to be an easy way to transfer the lot to them. earlier rather than later.

How old are the children and are they all still living there?

You will not be able to transfer your share of the property without dealing with the mortgage at the same time...

MeteredOut

MWT said:

littlebigshoe said:

got that now thankyou for your help so does that mean its now 50/50 im presuming she will have greater % than50% for the years she made whilst she made the payments so me kids will have a greater %? at some point i need to explain this to me kids im also wondering if theres going to be an easy way to transfer the lot to them. earlier rather than later.

How old are the children and are they all still living there?

You will not be able to transfer your share of the property without dealing with the mortgage at the same time...

From the OP:

 "the children now adults ages are now 22,21,19 "

MWT

MeteredOut said:

MWT said:

littlebigshoe said:

got that now thankyou for your help so does that mean its now 50/50 im presuming she will have greater % than50% for the years she made whilst she made the payments so me kids will have a greater %? at some point i need to explain this to me kids im also wondering if theres going to be an easy way to transfer the lot to them. earlier rather than later.

How old are the children and are they all still living there?

You will not be able to transfer your share of the property without dealing with the mortgage at the same time...

From the OP:

 "the children now adults ages are now 22,21,19 "

Thanks, I swear that wasn't there originally

Still eaves the question about if any of them still live there though, unless I missed that as well...

Brie

littlebigshoe said:

got that now thankyou for your help so does that mean its now 50/50 im presuming she will have greater % than50% for the years she made whilst she made the payments so me kids will have a greater %? at some point i need to explain this to me kids im also wondering if theres going to be an easy way to transfer the lot to them. earlier rather than later.

No.  From what you have said there is no restriction so it sounds to me the property is 100% yours.  It doesn't matter that she paid the mortgage all these years.  (ethically - I get it)

Do your children have a place to live?  Can they (particularly the 19yo) live in the house by themselves without any assistance?  i.e. pay the bills, maintain the place, get the boiler checked etc.   If so you could look at shifting ownership to the 3 of them, but only IF they want that responsibility.  

Have you found out if there is a will?

Realistically I think you do really need to talk to a solicitor at some point.  Is there any organisation that might help you front the bill if you can't get legal aid?  

Flugelhorn

Brie said:

No.  From what you have said there is no restriction so it sounds to me the property is 100% yours.  It doesn't matter that she paid the mortgage all these years.  (ethically - I get it)

From what OP said littlebigshoe said:

on register summary tab there is my full name and my exs full name and on title number on the proprietorship tab it says no disposition as Flugelhorn has written cant seem to copy paste here

I assumed from that that there was indeed a Form A restriction