Ask a Family Law Question, Get an Answer ASAP!
Hi, thank you for your question. Just a bit more information to assist you:
-Whose name is ***** ***** of the property in?
-Is there a declaration of trust, if so what are the terms?
-Are there any formal agreements or agreed intention regarding the split of equity?
If you are not in agreement with a 50-50 split, then what are you seeking?
What is the value of the property, outstanding mortgage and the deposit you put down?
Is the mortgage repayment or interest only?
How old are the children?
Thank you for confirming. I am afraid that the news is not good.
Firstly, the legal position as you are unmarried is that he is solely entitled to the whole equity as the title is in his name. However, if you are able to demonstrate an intention or agreement between you that your contributions should entitle you to a share of the equity you would be able to apply to court for an order regarding your contributions. As you are unmarried, contributions such as raising the children are not taken into account. I would therefore not be confident that you would be entitled to obtain more than what your initial deposit contribution was, nor the mortgage payments as this has not added to the value or equity of the property given that it is interest only. It would therefore appear that the informal agreement you have with him is better than you would get if you were to pursue a matter to court.
I appreciate that this may not be the answer you would have hoped for but if you found my information provided helpful please could you rate my response positively using the stars at the top of this page as I will not be credited for my response without a positive rating.