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  • FIRST POST
    • JohnD90
    • By JohnD90 8th Feb 18, 5:01 PM
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    JohnD90
    Advice on splitting equity of the house.
    • #1
    • 8th Feb 18, 5:01 PM
    Advice on splitting equity of the house. 8th Feb 18 at 5:01 PM
    Hi,

    Ideally after some advice, as I am looking to be bought out of a joint owned house with my ex partner.

    On the deeds upon buying the house I am at 25% of ownership as the other half inherited money from a family member.

    The value of the house has increased and approx a sum of 70,000 of equity in the house. Due to the deeds am I only entitled to 25% of this sum? I am unsure as obviously after the initial deposit we paid equally on the mortgage. So Is there something I can do legally that I am missing? The initial value was 120,000.

    Apologies if this question is a stupid one and Thank You in advance for any advice.

    John
Page 1
    • Tom99
    • By Tom99 9th Feb 18, 1:11 AM
    • 2,068 Posts
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    Tom99
    • #2
    • 9th Feb 18, 1:11 AM
    • #2
    • 9th Feb 18, 1:11 AM
    How was the original 120k paid for ie you/yourpartner/mortgage?

    What is the property worth now and how much is the mortgage outstanding.

    You should have had a deed of trust which set out how net proceeds of a sale were to be shared in a case like this where there is unequal deposit, but the mortgage shared 50/50. As you have seen its not as simple as saying we own 25%/75%.

    You don't have it documented but at least you can work out what your fair share should be and seek to agree that with your ex partner.
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