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Clare
Clare, Solicitor
Category: Law
Satisfied Customers: 34233
Experience:  I have been a solicitor in High Street Practice since 1985 with a wide general experience.
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Advice on separation when a property is involved

Customer Question

My partner and Ihave been together since August 2004 (8 years) and living together for 7 of those years. He has said it is over and wants us to seperate. We bought a house together in March 2011. The total value of the house was £400,000. My partner had a deposit of £100,000 of which £80,000 went on the deposit of the house and the other £20,000 went towards the cost of the fees, stamp duty and the rest went on furniture. We have signed a prenup to say that after the sale of the property and after the costs of the fees of selling, my partner will get the first £100,000 and the rest will be spilt 60/40. (Partner/Me) We took out a mortage for £323,000 and the outstanding value of the mortgage is £312,000. We had the properly valued in January and the current value is £460,000. My partner has said he doesn't want to sell but to buy me out of the property, and has said (nothing in writing) that he would buy me out for £17k. (not sure where he got that figure from) We are both currently living in the property and paying the mortgage. What I need to know is the following... What do I need to do? What is the best option for me and how do I find out what I'm entitled to, and am I better off letting my partner buy me out or selling? If my partner doesn't want to sell but it is the better option, how do I go about getting him to sell. Would I be entitled to more because we have been living together for a long period of time? All I want is to be fair and to get what I'm entitled to, bearing in mind that because my partner bought all the furniture with the £20,000 which he will get back if we sell, I really do not own anything! Any information would be useful

Submitted: 4 years ago.
Category: Law
Expert:  Clare replied 4 years ago.
Hi
Thanks for using JustAnswer. My name isXXXXX will do whatever I can to answer your question
Are there any children involved?
Claire
Customer: replied 4 years ago.
Hello Claire, no children involded
Expert:  Clare replied 4 years ago.
Hi
Your only claim is for the share of the property as set out in the Declaration of Trust.
The offer that he has made is on the law side and he has calculated it by allowing for costs of sale to be taken into account.
However I suggest that you tell him that if he wishes to buy you out and avoid all risk of court applications then he ups the offer to £20,000 then you will accept it provided you are also released from the mortgage
Claire
Clare and other Law Specialists are ready to help you
Customer: replied 4 years ago.


Hi Claire,


If my partner didn't agree with this, what would I need to do next? Would it end up costing me a lot of money to go through this process?

Expert:  Clare replied 4 years ago.
Hi
Are you anxious to move out quickly?
Claire
Customer: replied 4 years ago.


It would be better for peace of mind but I don't have to. I do have friends that I can stay with so I could stay with them, and still pay the mortgage. We havent discussed when I should leave as I haven't spoken to him about it yet....

Expert:  Clare replied 4 years ago.
Hi
I suggest that you make it plain to him that if he wises to retain the property without a lengthy legal battle then the figure you want is £20,000
However realistically if he will not budge then the offer he as made is not unreasonable and you should tell him to get the paperwork done
Claire