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Kasare
Kasare, Solicitor
Category: Family Law
Satisfied Customers: 204
Experience:  Solicitor, 10 yrs plus experience in civil litigation, employment and family law
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Father getting divorced - money owed to me.

Customer Question

Me and my father owned a property worth £600k with a £150k mortgage outstanding. In May 2014, the property was sold and the proceeds were transferred to my father, and he used the proceeds of £450k to purchase a new home. He signed a letter at the time saying my share of £225k would be paid back to me in 2015 or he would otherwise add my name to the deeds of the new house purchased, giving me a 50% share. Last month my father separated with his wife, and she has now placed a home rights notice on the new property even though they own a property together which is currently rented out. My father is now thinking of getting divorced with his wife so I would like to gain advice on my share of the £225k/50% share in the new property.

Submitted: 1 year ago.
Category: Family Law
Expert:  Clare replied 1 year ago.
Hi
Thank you for your question.
My name is Clare
I will do my best to help you but I need some further information first.
Was his wife aware of the details of the agreement at the time it was made
Clare
Customer: replied 1 year ago.

Hi

No, she wasn't aware of the agreement we had

Expert:  Clare replied 1 year ago.
Hi
May I ask why not?
Clare
Customer: replied 1 year ago.

Because I haven't been getting along with my stepmother in recent years and she also refused to stay at my fathers new house if I ever even visited there, let alone own half of the property.

Expert:  Clare replied 1 year ago.
Hi
For clarity - the movement of the funds is clearly documented so that it is clear some of your money went into the purchase?
How long have your father and his current wife been married
Clare
Customer: replied 1 year ago.

The funds where from sale proceeds of Property A, which was sold in May 2014 and jointly owned by me and my father. Property B was bought in July 2014 using the proceeds of the sale of property A. My father separated from his wife in September 2014. They have been married for 25 years.

Expert:  Clare replied 1 year ago.
Hi
Just to check - when was property A purchased and how was it financed?
Clare
Customer: replied 1 year ago.

Property A was purchased in November 2011 with my father as the sole purchaser. The purchase price was initially £330k and was financed by a £220k mortgage and my father added me to the mortgage and title deeds of property A in July 2012.

Expert:  Clare replied 1 year ago.
Hi
What was the motivation behind the transaction at that time - how much did you pay in to the property?
Clare
Customer: replied 1 year ago.

The deposit for Property was funded through the sale of Property C which was acquired in 1986 by my father and mother, my mother later passed away in 1987 and my dad remarried in 1989 to his current wife. In the interests of my future security, my dad decided to add me to the property deed and mortgage.

Expert:  Clare replied 1 year ago.
Hi
Was property C the matrimonial home?
Clare

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