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Clare
Clare, Family Solicitor
Category: Family Law
Satisfied Customers: 33524
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 son has split up with his girlfriend and they are now arguing

Resolved Question:

My son has split up with his girlfriend and they are now arguing over splitting the proceeds of the house they bought together. My son was unemployed for a number of years whilst they were together and she is now asking for 86% of the proceeds based on her calculation of what she has paid in mortgage payments and the deposit. my son doesn't argue with the deposit but feels that an 86% split based on mortgage payments is unfair and doesn't recognise the other non financial contributions he made. What is the legal position on this?
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.
How much did the house cost and how much was the deposit?
Was a Declaration of Trust signed at the time of the purchase?
How much is the house worth now and how much is outstanding on the mortgage?
Customer: replied 1 year ago.
Hi Clare
Thanks for coming back so quickly.
The house cost £106,000 but is now only worth £105,000 based on two recent valuations. Outstanding mortgage is £56,790 My sons partner put down £29,000 deposit. my son thinks he may have signed a document at the time of purchase, but this has not been found by his partner so there is no evidence of one. My son is however prepared to accept she has her deposit back, but feels her insistence that she has more than 50% of the remaining equity after this is taken off, based on her paying more of the mortgage than him due to his unemployment as unreasonable.Tony Sims
Expert:  Clare replied 1 year ago.
Hi
Unless she can prove that the agreement at the time of the purchase was that she shoudl have more than 50% of the equity then technically the proceeds shoudl be shared 50/50 between them.
However if she challenged this in court it is almost certain that the court would either give her back her deposit and divide the balance 50/50 or simply give her a larger share of the overall equity - say 70%
Accordingly your son can stand by the offer he has made and know that he would not be seen as unreasonable by the court
I hope that this is of assistance - please ask if you need further details
Clare
Clare, Family Solicitor
Category: Family Law
Satisfied Customers: 33524
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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