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  • FIRST POST
    • Cjfagence
    • By Cjfagence 13th Feb 18, 3:27 PM
    • 1Posts
    • 1Thanks
    Cjfagence
    Ex wants to buy me out.
    • #1
    • 13th Feb 18, 3:27 PM
    Ex wants to buy me out. 13th Feb 18 at 3:27 PM
    My ex and I have a joint mortgage on a property which I and our 2 children live in. He moved out in June 2014 and I have paid the mortgage and all bills by myself; which is every single penny I earn each month...
    I want to put the house on the market and sell it, but he's already started to be difficult; saying he needs to think about whether he can buy me out or if he even wants to sell!
    We sold it 18 months ago, but he refused to sign the last papers allowing the sale to go through.
    What options do I have? How do I work out how much he would have to give me to buy me out; given he has not contributed to the mortgage for nearly 4 years!!
    Do I need to seek legal advice to get his backside moving as he's holding me back.... he's still got a hold on me and the kids by being an idiot!!!
    Any suggestions gratefully received.
Page 1
    • Comms69
    • By Comms69 13th Feb 18, 3:32 PM
    • 2,970 Posts
    • 2,938 Thanks
    Comms69
    • #2
    • 13th Feb 18, 3:32 PM
    • #2
    • 13th Feb 18, 3:32 PM
    Forcing a sale can cost tens of thousands of pounds.


    Why not see what he offers first?
    • Pixie5740
    • By Pixie5740 13th Feb 18, 4:09 PM
    • 12,114 Posts
    • 17,050 Thanks
    Pixie5740
    • #3
    • 13th Feb 18, 4:09 PM
    • #3
    • 13th Feb 18, 4:09 PM
    My ex and I have a joint mortgage on a property which I and our 2 children live in. He moved out in June 2014 and I have paid the mortgage and all bills by myself; which is every single penny I earn each month...
    I want to put the house on the market and sell it, but he's already started to be difficult; saying he needs to think about whether he can buy me out or if he even wants to sell!
    We sold it 18 months ago, but he refused to sign the last papers allowing the sale to go through.
    What options do I have? How do I work out how much he would have to give me to buy me out; given he has not contributed to the mortgage for nearly 4 years!!
    Do I need to seek legal advice to get his backside moving as he's holding me back.... he's still got a hold on me and the kids by being an idiot!!!
    Any suggestions gratefully received.
    Originally posted by Cjfagence
    Is there a deed of trust in place setting out what will happen in the event of a relationship breakdown?

    Is your ex and ex-spouse or ex-civil partner or just an ex-partner?

    You may have been paying the mortgage on your own for the last 4 years but presumably your ex has been having to pay out for accommodation elsewhere whilst continuing to have joint and several liability for the mortgage.
    • xylophone
    • By xylophone 13th Feb 18, 4:41 PM
    • 25,372 Posts
    • 14,968 Thanks
    xylophone
    • #4
    • 13th Feb 18, 4:41 PM
    • #4
    • 13th Feb 18, 4:41 PM
    Are you able to buy him out?
    • FBaby
    • By FBaby 13th Feb 18, 5:08 PM
    • 16,684 Posts
    • 41,272 Thanks
    FBaby
    • #5
    • 13th Feb 18, 5:08 PM
    • #5
    • 13th Feb 18, 5:08 PM
    Firstly were you married? If not, what was the arrangement when you bought it? Tenants in common? Who paid the deposit? How long ago did you buy it? Did you both contribute towards the mortgage when you were together?

    Assuming that everything was 50/50ish until he left, he would be entitled to half the value of the equity that would have accrued up to when he left and you would be entitled to 100% of the rest, but if you didn't agree a deed of trust then, it might not be all straight forward, even less so if he put in all the deposit for instance.

    Indeed, first step would be to hear what he is prepared to offer.
    • Thrugelmir
    • By Thrugelmir 13th Feb 18, 5:26 PM
    • 58,490 Posts
    • 51,851 Thanks
    Thrugelmir
    • #6
    • 13th Feb 18, 5:26 PM
    • #6
    • 13th Feb 18, 5:26 PM
    given he has not contributed to the mortgage for nearly 4 years!!

    Originally posted by Cjfagence
    Your ex is paying child maintenance?

    Likewise your ex has to pay for somewhere to live for himself.
    Financial disasters happen when the last person who can remember what went wrong last time has left the building.
    • TBagpuss
    • By TBagpuss 13th Feb 18, 7:30 PM
    • 6,487 Posts
    • 8,418 Thanks
    TBagpuss
    • #7
    • 13th Feb 18, 7:30 PM
    • #7
    • 13th Feb 18, 7:30 PM
    Firstly were you married? If not, what was the arrangement when you bought it? Tenants in common? Who paid the deposit? How long ago did you buy it? Did you both contribute towards the mortgage when you were together?

    Assuming that everything was 50/50ish until he left, he would be entitled to half the value of the equity that would have accrued up to when he left and you would be entitled to 100% of the rest, but if you didn't agree a deed of trust then, it might not be all straight forward, even less so if he put in all the deposit for instance.

    Indeed, first step would be to hear what he is prepared to offer.
    Originally posted by FBaby
    Actually, he would be entitled to 50% of the current net equity. In the absence of a specific agreement otherwise, the clock doesn't stop when he left.

    OP step one is to try to agree the value of the house. I'd suggest that you propose getting 3 agents to come and offer marketing advice.

    If he was buying you out, the sum would be
    Current value minus outstanding mortgage and costs of sale, divided by 2.

    If he is dragging his feet, it may be worth your while to talk to a solicitor who deals with TOLATA claims, and get them to send a formal letter before action.
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