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