How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask Clare Your Own Question

Clare
Clare, Solicitor
Category: Law
Satisfied Customers: 33812
Experience:  I have been a solicitor in High Street Practice since 1985 with a wide general experience.
13262538
Type Your Law Question Here...
Clare is online now

A property which was joint owned initially (both put deposit

Resolved Question:

A property which was joint owned initially (both put deposit towards buying it and both contributed towards mortgage), property was paid off: deed was changed to sole ownership more than 10 years ago, relationship deteriorating now, I'm considering leaving, what are the chances of me still being able to claim half of the property? Ownership was changed with my agreement (stupidly - no official security backup, all out of "trust" and "love"). The property has since been re-mortgaged and is now rented out. The property still has at least 50% of equity left if sold.
Submitted: 1 year ago.
Category: Law
Expert:  Clare replied 1 year 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.
Are you married?
Exactly why was the property transferred to sole ownership?
How much is the property worth and how much is outstanding on the mortgage?
Clare
Customer: replied 1 year ago.

Hi Clare

We are not married, living together, we have a son together (18 years old now)

Reason for transferring into his name as sole ownership was because I'd bought another property then (my own deposit) and the 2nd property was in my name only following advice from the mortgage lender (he said the salary I was on was sufficient to approve the mortgage). The property in question is now worth between £350K - £380K. There is a mortgage of £170K, as far as I'm aware, but his gambling addiction worries me that he "may" re-mortgage for more money especially as property prices still rising. We're in London.

I quit work over 18 months ago, so is dependent on his help to pay mortgage on the 2nd property we are currently living in.

Expert:  Clare replied 1 year ago.
Hi
For clarity he is helping pay the mortgage on a property that is in YOUR sole name
Clare
Customer: replied 1 year ago.

yes that is correct, fyi he's also living here. This is only since I gave up work 18 months ago

part of the money for the property we're living in is rent money from the first property.

Expert:  Clare replied 1 year ago.
Hi
What is the value of the two properties and how much is outstanding on the respective mortgages?
Clare
Customer: replied 1 year ago.

Hi Clare

details as follows:

1st property (in his name, rent out): est. value £350-80K, mortgage £170K

2nd property (my name, we're living in), est. value £250-80K, mortgage £135K

Expert:  Clare replied 1 year ago.
Hi
For clarity - you want the equity in both properties to be shared between you?
Clare
Customer: replied 1 year ago.

Definitely no.

Financially, I have contributed more than he had. With his habitual gambling worsening now, I definitely do not want him to have a share if I can help it (for both mine and my son's sake)

Worse case scenario, I want him to add our son's name to the (1st) property, so I can give my half of the share to my son. The 2nd property in my name is ***** ***** especially given his current state of gambling.

Expert:  Clare replied 1 year ago.
Hi
For clarity - you have said that the mortgage on property two is being paid partially with rent from property one - is that correct?
Clare
Customer: replied 1 year ago.

yes.

fyi

When I first started looking into this matter (2 days ago), there was still reservation whether I could go through with it, as I still love him. But this is the 3rd day in a row he has stayed out overnight gambling (last week, he went for 5 nights!). For my own sanity, my son's future financial security and not to see all my hard earned money witted away like this, I am now more than certain I DO want to proceed with this move, ie to get back my share from the 1st property, as I worry these frequent gambling habits is pointing to an 'addiction' and sooner or later, just a question of time that he will remortgage the 1st property for money to feed the addiction. This is now becoming urgent, really appreciate some advice from you.

Thanks, Lisa

Expert:  Clare replied 1 year ago.
Hi
You are indeed entitled to make a claim for a share of the equity in property one but I am sorry the only basis on which you would get a share of property one is of you give your partner a share in property two
This is because the rent from property one is being used to fund property two
Since there is more equity in property one you may feel that this is worth while, but you need to be aware that this will be the inevitable consequence of any application that you make.
before taking any action you should try and discuss matters with your ex using Family mediation
www.familymediationhelpline.co.uk
Please ask if you need further details
Clare
Customer: replied 1 year ago.

Hi Clare

What if I can 'prove' (old bank statements/trading account) the re-mortgage money (£170K) has been used/taken up solely by him, technically he has already taken his share from the property, therefore whatever is left should be mine (base on est. property value £350K)? Would that be sufficient in the eyes of the law?

Expert:  Clare replied 1 year ago.
Hi
How was the property purchased originally?
Clare
Customer: replied 1 year ago.

We contributed towards the deposit + mortgage payment (both working then). House bought in joint name.

Expert:  Clare replied 1 year ago.
Hi
What was the £170,000 used for?
Clare
Customer: replied 1 year ago.

Mainly on trading (currencies/Indices) + paying the mortgage on the house we live in*.

My priority is to have my name (or our son's name) added back on the Deed of the first property, this should hopefully deter him re-mortgaging it (if he hasn't already done so).

If not, then 'force' through a sale on the property and split the remaining money in half.

I probably won't be able to leave him, but to have my name back on the Deed will give me peace of mind that he can't readily re-mortgage / sell it to pay for his gambling addiction.

Expert:  Clare replied 1 year ago.
Hi
Then my answer is the same.
If you wish to have your name on property one, his name will have to be added to property two
Clare
Clare, Solicitor
Category: Law
Satisfied Customers: 33812
Experience: I have been a solicitor in High Street Practice since 1985 with a wide general experience.
Clare and other Law Specialists are ready to help you
Customer: replied 1 year ago.

Ok, your replies noted and thanks.

What Customers are Saying:

 
 
 
  • Thank you so much for your help. Your answers were really useful and came back so quickly. Great! Maggie
< Previous | Next >
  • Thank you so much for your help. Your answers were really useful and came back so quickly. Great! Maggie
  • A quick response, a succinct and helpful answer in simple English. I believe I can now confront the counter party with confidence -- worth the 30 bucks! Rick
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C.
  • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex
  • Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult. GP
  • I couldn't be more satisfied! This is the site I will always come to when I need a second opinion. Justin
  • Just let me say that this encounter has been entirely professional and most helpful. I liked that I could ask additional questions and get answered in a very short turn around. Esther
 
 
 

Meet The Experts:

 
 
 
  • Jo C.

    Jo C.

    Barrister

    Satisfied Customers:

    30316
    Over 5 years in practice
< Previous | Next >
  • http://ww2.justanswer.com/uploads/EM/emus/2015-7-7_192327_bigstockportraitofconfidentfemale.64x64.jpg Jo C.'s Avatar

    Jo C.

    Barrister

    Satisfied Customers:

    30316
    Over 5 years in practice
  • http://ww2.justanswer.com/uploads/BE/benjones/2015-12-1_0437_ennew.64x64.jpg Ben Jones's Avatar

    Ben Jones

    UK Lawyer

    Satisfied Customers:

    11553
    Qualified Solicitor - Please start your question with 'For Ben Jones'
  • http://ww2.justanswer.com/uploads/BU/Buachaill/2012-5-25_211156_barrister5.64x64.jpg Buachaill's Avatar

    Buachaill

    Barrister

    Satisfied Customers:

    1754
    Barrister 17 years experience
  • http://ww2.justanswer.com/uploads/JO/jojobi/2013-3-19_0265_maxlowryphoto.64x64.jpg Max Lowry's Avatar

    Max Lowry

    Advocate

    Satisfied Customers:

    894
    LLB, 10 years post qualification experience
  • http://ww2.justanswer.com/uploads/UK/UKLawyer/2012-4-12_9849_F2.64x64.jpg UK_Lawyer's Avatar

    UK_Lawyer

    Solicitor

    Satisfied Customers:

    750
    I am a qualified solicitor and an expert in UK law.
  • http://ww2.justanswer.com/uploads/KA/Kasare/kasare.64x64.jpg Kasare's Avatar

    Kasare

    Solicitor

    Satisfied Customers:

    402
    Solicitor, 10 yrs plus experience in civil litigation, employment and family law
  • http://ww2.justanswer.com/uploads/OS/osh/2015-7-7_19268_gettyimagesb.64x64.jpg Joshua's Avatar

    Joshua

    Lawyer

    Satisfied Customers:

    8199
    LL.B (Hons), Higher Prof. Dip. Law & Practice
 
 
 

Related Law Questions