Mortgage when splitting with partner

Fliss_M

This is probably more legal but I'm not sure where to post so sorry if this is incorrect. I'll also be getting proper legal advice. This is more a "what can I expect" sort of request 

I bought my home with my ex husband in 2016. We divorced and had a gentlemen's agreement about the equity. 

My new partner moved in mid 2019. A new mortgage in mine and his name's was done in Jan 21. Thus removing my ex husband off the mortgage and deeds with his agreement. 

Now we're splitting up. My view is, his portion of the equity is the value from when we took the mortgage our together in 21. His is that it's the whole equity, so from when it was bought in 16. Difference being 40k Vs 75k. I've paid the mortgage from my bank account all this time. Don't know if that makes a difference. 

Unlike my ex husband I know I'll need a solicitor and legal drawn up papers to buy him out. Or to agree some money now and the rest later as we have a 4yo together and my 2 older children from my marriage, it's their home too, so I don't anticipate being forced to sell. 

So just looking for a bit of a heads up on what to expect when I book an appointment. I think he thinks we'll go to 1 appointment together for clarity on how the equity should be split in order for me to buy him out. 

Thanks x

ACG

Starting point will be when you put him on the mortgage/deeds did you buy it as tenants in common or joint tenancy? That will help to determine if you start at 50/50 or not. 

I think your right from a moral perspective, but from a legal one I am not sure. 

silvercar

why would he even think he has a claim from the time it was owned by you and your ex-husband? He wasn’t even on the scene then? 

He took a financial interest in the property from 2021, until that point he was an excluded occupier / lodger with benefits. I don’t see how he can demand a share of the equity when he wasn’t living there and wasn’t contributing.

Keep_pedalling

ACG said:

Starting point will be when you put him on the mortgage/deeds did you buy it as tenants in common or joint tenancy? That will help to determine if you start at 50/50 or not. 

I think you’re right from a moral perspective, but from a legal one I am not sure. 

It would only do so if together with making it TiC a deed of trust was drawn up documenting the ownership split. 

poseidon1

Your post back in 2020 (below) indicated that the plan at that time was for  your  soon to be (2nd ) ex partner to introduce his own cash as part of the excercise to 'buy out'  your ex husband, as well as be party to the joint mortgage for that purpose- 

https://forums.moneysavingexpert.com/discussion/6107617/my-partner-has-an-isa#latest

Is that what actually happened at the time ie did he introduce his own cash , and you have  simply forgotton to mention that here?

Bearing in mind the two of you were  unmarried it would have been usual for a competent solicitor to reccomend executing a deed of trust setting out your respective shares of equity from outset of this arrangement and how this would be affected by subsequent mortgage contributions. Evidently either you did not have a competent solicitor or ignore the advice regarding a trust deed (many unmarrieds it seems do  ignore that advice)

Bearing in mind your 2020 post  and depending  upon whether or not the  2nd partner did introduce his own capital,  it is not  at all clear to me you are either morally or legally in the right regarding your stance.

MWT

silvercar said:

I don’t see how he can demand a share of the equity when he wasn’t living there and wasn’t contributing.

The answer to this question might explain why he thinks that...

ACG said:

Starting point will be when you put him on the mortgage/deeds did you buy it as tenants in common or joint tenancy? That will help to determine if you start at 50/50 or not. 

MWT

Fliss_M said:

My new partner moved in mid 2019. A new mortgage in mine and his name's was done in Jan 21. Thus removing my ex husband off the mortgage and deeds with his agreement. 

I'm guessing that you and your new partner are on the deeds as Tenants in Common, if so the big question is did you complete a declaration of trust to protect your existing interest and that of your ex-husband?