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Ask Clare Your Own Question
Clare
Clare, Family Solicitor
Category: Family Law
Satisfied Customers: 34278
Experience:  I have been a solicitor in High Street Practise since 1985 and have specialised in Family Law for the last 10 years
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My partner and I have split up but are still living together

Resolved Question:

My partner and I have split up but are still living together as he refuses to sell up. We have a joint mortgage and about £130k in equity in the house according to a recent valuation but we still have approx £135k to pay off. I am happy to leave my equity in the house as an investment until he can afford to buy me out but I wasn't sure where I would stand legally. I would stop paying the mortgage so he would be contributing more to it. Would that give him any rights to refuse to pay me my half of the equity when the time comes? Should I become his landlord and demand that he pays me rent for my half of the house so that I can continue to pay the mortgage?
Submitted: 2 years ago.
Category: Family Law
Expert:  Clare replied 2 years 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.
Would you prefer to actually sell the property?
Clare
Customer: replied 2 years ago.
I would prefer to sell it but don't really want to have to force a sale through the courts. Not only would it be costly, but it would lead to a breakdown in the good terms we have established. We have a child together so it is importamt to me that we remain on good terms for his sake. My partner will be able to buy me out eventually when he inherits half of his mother's house.
Expert:  Clare replied 2 years ago.
Hi
Oh I wish more people thought as you do!
is it a repayment or an interest only mortgage?
Clare
Customer: replied 2 years ago.
It's a repayment mortgage
Expert:  Clare replied 2 years ago.
Hi
How long has the mortgage been running?
Clare
Customer: replied 2 years ago.

Only since August 2009 - it is a 25 year term

Expert:  Clare replied 2 years ago.
Hi
So long as you are a joint owner of the property and there is no written agreement that states otherwise then you are entitled to a 50% share of the equity
It would be reasonable for you to stop paying the mortgage since you are not living there - and to still receive your full share of the equity when the property is sold.
Equally it is reasonable for your ex to want credit for any capital reduction he makes from the mortgage itself - and for any value added by any improvements or alterations that he pays for.
This is best dealt with by way of a written document that sets out the basis of the agreement between you
I hope that this is of assistance - please ask if you need further details
Clare
Clare and other Family Law Specialists are ready to help you