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Michael Holly
Michael Holly, Solicitor
Category: Law
Satisfied Customers: 6821
Experience:  I have 20 years of experience as a solicitor in litigation and other areas
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Please can you advise me, how does a person prove they have

Resolved Question:

Please can you advise me, how does a person prove they have interest invested in the house , established on legal principles when negotiating beneficial interest after bankcruptcy
Submitted: 2 years ago.
Category: Law
Expert:  Michael Holly replied 2 years ago.
There are 2 ways to gain a beneficial interest in a property.
The first is if you are married to the person that owns it as you will gain a beneficial interest through matrimonial law.
The second , if the house is not in the name of a spouse is through a contribution in money or monies worth.
This is not paying the bills or even decorating as you would have to pay bills wherever you lived and routine maintenance is expected. It is either paying for or doing something that increases the capital value of the house and, as such, is renovation or paying for or building a conservatory or similar. The value of an interest can be gauged by asking an estate agent what increase in value has been added by the work done.
I hope this helps. If there are any further points please reply
Best wishes
Michael
Customer: replied 2 years ago.
MichaelThanks for your answer. A follow up question. I am not married to the person who owns the property but can clearly show I have reduced 2 secured loans on her property by £14,400 over the 3 year period since her bankcrupsy which has increased the equity in the property. I have also spent £5,000 pounds on a new bathroom and £1,500 on a new boiler. Would a court take these amounts in to consideration as they have clearly Increased the equity.RegardsDavid
Expert:  Michael Holly replied 2 years ago.
Dear *****
Yes these are exactly the sorts of contributions that increase the value or amount of equity in a property.
Best regards
Michael
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