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Clare
Clare, Solicitor
Category: Law
Satisfied Customers: 33323
Experience:  I have been a solicitor in High Street Practice since 1985 with a wide general experience.
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my partner and I have separated and she and my 2 youngest have

Customer Question

my partner and I have separated and she and my 2 youngest have moved down to GOSPORT and I live in MILTON KEYNES with my eldest son from a previous marriage. the two youngest are aged 3 and 8 and the eldest is 19. I currently live in the matrimonial home and my wife lives with her parents .My question is that when we sell the house which is both our names is sold, what share would we both get on sellin the house. I invested approx £ 45000 into the property and my wife approx. £10000,we currently are selling the house for £135000 and our joint mortgage is for £54000, I have asked to receive from sale of the house the money I invested and £1000 for final bills to be paid of,my wife will receive approx £26000. thank you for any assistance
Submitted: 3 years ago.
Category: Law
Expert:  Stuart J replied 3 years ago.
Hello, I am Law Denning and I am a practising solicitor in a High Street practice. I have been an expert on this website in UK law since 2008. During that time, as you appreciate, I have answered thousands of questions from satisfied users on a variety of subjects. Because we are all in practice with clients and court and other users, I might not always respond in minutes. Please bear with me in that case

It is my pleasure to try and assist you with this today. Please bear with me while I gather some further information from you in order for me to be able to advise you fully.

Unless I have all the facts that I need, my answer would not be accurate.

Is the property in joint names?
Customer: replied 3 years ago.


yes the mortgage is in both names


 

Expert:  Clare replied 3 years ago.
Hi
What other assets and debts are there and what income do you each have?
How long have you lived together and is it your ex's intention to live with her parents permanently?
Claire
Customer: replied 3 years ago.


just mortgage,ex is getting legal aid that's all I know,My son and I are unemployed I claim ESA due to mental illness and my son JSA,I have lived with my ex for just under 12 years. She is currently looking for a property to rent I think but the parents house has enough room for all of them.If I sell the house my son and I will be also looking for a rented property,I'm paying maintenance for children out of my benefits.ESA is £440 a month.Do I have to sell

Expert:  Clare replied 3 years ago.
Hi
The length of the relationship and the fact that your ex has the care of two small children means that it is sadly inevitable that the court will order a sale if your ex requests this - and that the equity is likely to be divided equally between you despite the capital that you brought to the purchase.
Indeed your ex may push for a larger share - but the fact that she will not have sufficient to allow her to purchase another property makes a 50/50 division a more likely option.
I appreciate that this is not the news that you are hoping for - and you may be able to negotiate a better deal with your ex using Family mediation (www.familymediationhelpline.co.uk) but otherwise I am afraid that realistically your position is not strong .
Please do not hesitate to ask if you need further clarification
Claire

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