separation and shared ownership

papercut1982

Hi, I am looking for some advice on my situation, briefly explained below ;
I live with my partner, we are not married. We have a joint mortgage on a shared ownership property, 75% owned. We have decided to call it a day after being together for 5 years although only having the mortgage for 2.5 years. He pays the mortgage and the rent each mth from his wage (which is more than mine) and I pay everything else, bills, ctax, food, nursery etc.. Basically in terms of % what we each pay from our wage per mth is the same. However, 2 yrs ago, I paid £20k of the mortgage off due to my grandfathers passing. At the time it didn't even cross our minds to draw up some sort of legal document proving this if you like. Now, I am wondering if we split can I claim back that £20k seeing as it was nothing to do with him?
We are not being nasty to each other, in fact best of friends. I am happy to let him keep the property, I couldn't afford to and wouldn't get H/B on the rent anyway as it is quite small. My dad will buy a second home for me and our son to live in, but I would need to furnish it myself, hence getting the £20k back. He bought me an £8k car last year and I would also happily give him the money for that. However, speaking to a friend, she said the law had recently changed and he is entitled to half of everything, including that inheritance. Is this correct? Thank you...

wizard5353

Common law is still not law. I'm not aware of any changes to the law that might affect this. What is legally binding is the fact that you have a joint mortgage together and if you paid 20k in to that it becomes part of that joint investment but you can ask your ex to buy you out. You just have to agree with each other what you feel is fair, take in to account the 'current' value of the home to the amount of the mortgage repaid. Try to be civil about it and never let things go sour as everyone will lose out in the end if that happens.

lauraj87

Hi all -

I wonder if anyone can give me any advice as i'm not too hot on the subject of mortgages!

Last year me and my partner bought a house, 40% owned 60% renting. I would like to now move out and therefore get my name taken off the mortgage, he is willing to keep the house and get the finances transfered to him. I would like a clean break eg my name taken off everything. Anyone know how I go about it and whether it will cost much? I am expecting some costs but as he will not be terminating the mortgage contract i assume it will not be a lot?

Feel a bit stuck at the moment!!

Thanks in advance...

Our mortgage is with Leeds Building Society if that helps?

L x

kunekune

Papercut, as you are joint legal owners the presumption is that you each have 50% of your share of the property. You would need to put a good case together for more. I suggest that if you really want the £20K back, in addition to half the property, then you should take some legal advice, as it is not a straightforward matter. The law has not really changed, by the way: the way courts approach cases like yours, if it gets that far, has altered a bit, but the outcomes aren't really any different. There has not been any new legislation, that is a myth, your situation is entirely governed by common law & equity (mostly equity).

Wizard, I assume you're not a lawyer. Common law, in the sense that lawyers use the term, just means legal rules that come from decided cases. It most certainly IS law. But I don't that's what you meant, and I would agree that the approach you suggested is a sensible one.