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Ask Clare Your Own Question
Clare
Clare, Solicitor
Category: Law
Satisfied Customers: 34236
Experience:  I have been a solicitor in High Street Practice since 1985 with a wide general experience.
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My partner owns a house with his ex in joint names. They only

Resolved Question:

My partner owns a house with his ex in joint names. They only have one yr o mortgage left. They were never married but have one daughter aged 8. My partner would like some capital from the house in order to buy a house. He has asked for 1/3 rd the value of the house. Is this ok? And is he entitled to do this. The ex partner has money so will not have to sell. Is he entitled to money from his house?
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 house worth and how much is outstanding on the mortgage?
How often does the child stay with him overnight?
Clare
Customer: replied 2 years ago.
The house is worth about £130000 and the child stays with him on Friday nigjts and all day saturday
Customer: replied 2 years ago.
Ther is about 12 months worth or £2000 outstanding on the mortgage. Its an endowment one and thats worth about £30000. His name is ***** *****
Expert:  Clare replied 2 years ago.
Hi
What other assets does his ex have - and how much does a two bedroom property in the same general area cost to buy?
Clare
Customer: replied 2 years ago.
His ex has approx £90000 cash and a car. A three bedroomed property of the same will cost approx £140000
Expert:  Clare replied 2 years ago.
HI
Where did her money come from (this is important)
Clare
Customer: replied 2 years ago.
She saved it while they were together. 20 yrs
Expert:  Clare replied 2 years ago.
HI
How much does she earn?
Clare
Customer: replied 2 years ago.
Works part time now in a bank. 24 hrs so £ £18000????
Expert:  Clare replied 2 years ago.
Hi
As a joint owner of the property and since they are not married your partner can apply to the court for an Order for the Sale of the Property
His ex could apply using the Children Act for an Order allowing her to remain in the property until the child is 18 or she cohabits BUT the fact that she has sufficient funds to pay your partner immediately means that the court is unlikely to delay the sale.
On that basis your partners offer is a generous one and he shoudl make it clear that if no agreement is reached he WILL apply to the court for an order for Sale
Please ask if you need further details
Clare
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