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Clare
Clare, Solicitor
Category: Law
Satisfied Customers: 34106
Experience:  I have been a solicitor in High Street Practice since 1985 with a wide general experience.
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a friend and his partner took out a mortgage 28 years ago.

Resolved Question:

a friend and his partner took out a mortgage 28 years ago. They parted amicably after about 4 years into the mortgage, my friend has carried on with the payments ever since. He would like to know if the absentee still has a claim on the property.
Submitted: 2 years ago.
Category: Law
Expert:  Clare replied 2 years ago.
Hi
Thank you for your question.
My name is Clare
I will do my best to help you but I need some further information first.
How much is the property worth and how much is outstanding on the mortgage?
Where is the friend now?
Clare
Customer: replied 2 years ago.

Hi, the property is probably worth £150,000. Owed is around £10,000. The friend has been married for at least 15 years has 3 children and lives in a nearby village. Hope this helps.

Expert:  Clare replied 2 years ago.
Hi
How much has been paid off the mortgage over the years?
Clare
Customer: replied 2 years ago.

I have no idea regarding all financial details. The enquiry was would the partner have any claim, if yes, I imagine the next step would be to find out the extent of the claim. Hope this helps. regards.

Customer: replied 2 years ago.

replied



01 September 2014 10:31 EST




I have no idea regarding all financial details. The enquiry was would the partner have any claim, if yes, I imagine the next step would be to find out the extent of the claim. Hope this helps. regards.












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Expert:  Clare replied 2 years ago.
Hi
I am sorry but yes the partner does indeed still have a financial interest in the property - and unless there is a Declaration of Trust stating otherwise then on the face of it he is in fact entitled to half of the equity.
Of course your friend could argue that he should have a larger share since he has paid the mortgage and cared for the property - but that does not change the fact that partner does have a claim
I hope that this is of assistance - please ask if you need further details
Clare
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