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Jo C.
Jo C., Barrister
Category: Law
Satisfied Customers: 70213
Experience:  Over 5 years in practice
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Hi, I bought a property with my Mother 7 years ago that we

Resolved Question:

Hi,
I bought a property with my Mother 7 years ago that we are now going to sell.
The situation is complicated as we now do not have a good relationship.
When we bought the property my Mother put approximately a 50% deposit down and I have a mortgage for the remainder. My Mother has lived in the property since we bought it, I have not as I am in the Forces. She has currently agreed that on the sale of the property the mortgage redemption will be cleared. My question is will I be entitled to any reimbursement for the amount I have paid out in mortgage over the last 7 years?
Currently I will be coming out with nothing!
Submitted: 3 years ago.
Category: Law
Expert:  Jo C. replied 3 years ago.
Hi.

Thank you for your question. My name is XXXXX XXXXX I will try to help with this.

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

Hi Jo,


The house is in both our names but the mortgage is in just mine.

Expert:  Jo C. replied 3 years ago.
Sorry for the delay. I was travelling back.

The mortgage being in your sole name will not affect the outcome.

If the property is in joint names and you did not agree otherwise, and when the property is sold it would be split 50-50 regardless of what each of you put in either at the beginning or over the time.

The way the courts look at this is that you wanted it any differently, you would have done a separate deed of trust.

However contributions made by someone who does not live in the property are taken into account and will reduce one person share while increasing the others.

Your mother had the benefit of living in the property when you had the burden of paying the mortgage.

However your mother put 50% down which in full or part accounts for your mortgage payment.

At the moment the most likely outcome is that the property would be split 50-50.

If that equates to more than you have paid in the mortgage it is obviously in your favour and if less, it would be in your mother’s favour.

One thing is certain, and that is that you will not be coming out with nothing if the property is in joint names.

If it was not in joint names you still have a financial interest in the property but if she will not pay you anything, you would be faced with court application in respect of the claim of your share.

Can I clarify anything for you?

Jo
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