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Harris
Harris, Family Law Expert
Category: Family Law
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Experience:  Family Law - Specialist in Divorce, Financial Relief and Children Matters
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I am on a joint mortgage with my ex-boyfriend. We separated

Resolved Question:

Good Afternoon,
I am on a joint mortgage with my ex-boyfriend. We separated 6 years ago, the mortgage is 8 years in. I have not paid anything since we separated.
His solicitor has sent me a transfer of equity letter which I can sign, this means I get no capital from the house if sold. What are my rights?
Many thanks
Tracey
Submitted: 8 months ago.
Category: Family Law
Expert:  Harris replied 8 months ago.

Hi, thank you for your question. Just a bit more information required to fully assist you:

-How much is the property worth and what is the outstanding mortgage?

-Do you have any formal agreements or deeds of trust in place - if so what are the terms?

-Is the property held as joint tenants or tenants in common on the title?

Customer: replied 8 months ago.
Hi there,Mortgage + £129k - he said value is £145k to sell quickly (though it was £135k 6 years ago and the market has boomed since?!)
No deeds of trust
Not sure about joint tenants - do I speak to land registry about this?
Thanks
Expert:  Harris replied 8 months ago.

In relation to joint tenants or tenants in common on title you will need to obtain the title deed which can be done here: https://www.gov.uk/search-property-information-land-registry

If the following wording is on the title, then you are tenants in common, if it is not you are joint tenants: "No disposition by a sole proprietor of the registered estate (except a trust corporation) under which capital money arises is to be registered unless authorised by an order of the court".

In relation to the transfer, what has he offered to buy your share and are you in agreement with his offer?

Harris, Family Law Expert
Category: Family Law
Satisfied Customers: 2309
Experience: Family Law - Specialist in Divorce, Financial Relief and Children Matters
Harris and other Family Law Specialists are ready to help you
Customer: replied 8 months ago.
I have had a transfer of equity letter from his solicitor, for which I get no money if I sign
Expert:  Harris replied 8 months ago.

Thanks for confirming. Firstly, your legal interest in the property will depend on what share and how the title is held on the title deed. If it is as joint tenants or in equal shares you are legally entitled to 50% of the proceeds of sale.

Furthermore, if he is seeking to buy-out your share then you would be best placed to request for there to be a market appraisal by an estate agent to ascertain what the current value of the property is and base your negotiations around that. On your figure of £145,000, you would be entitled to approximately £6-7,000 which takes into account any potential costs of sale at 2.5%.

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