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Clare
Clare, Solicitor
Category: Law
Satisfied Customers: 33955
Experience:  I have been a solicitor in High Street Practice since 1985 with a wide general experience.
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My Son purchased a property in the joint names of himself

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My Son purchased a property in the joint names of himself and his Wife. The deposit and improvements, (39000) were all provided by my Son and in addition my Wife and I gave them £16500 for further improvements. Sadly, they have separated and I wish to know whether his Wife will be entitled to half the equity when the Property is sold. Apart from providing no monies she also ran up credit card debts which my Son cleared.
Submitted: 1 year ago.
Category: Law
Expert:  Clare replied 1 year ago.
Thank you for your questionMy name is ***** ***** do my best to help you but I need some further informtaion firstHow long have they lived together and are there any children involved?How much is the house worth and how much is outstanding on the mortgage
Customer: replied 1 year ago.
Hi Clare
They have lived together for 7 years and were married about 4 years ago. There is a 2 year old Son and at the moment they are sharing custody. The House is worth £200,000 and the mortgage is around £127500
Customer: replied 1 year ago.
Hi Clare
I need to go out in the next 10 minutes. Will you be able to respond in that time, if not, can you e-mail me please
Thanks
Expert:  Clare replied 1 year ago.
My apologies for the delayDo they both work full time?What income do they each have?How is the care of the child shared between them?How much does a cheaper two bedroom property in the same area cost to buy?
Customer: replied 1 year ago.
Hi Clare
They both work full time. My Son's income is £38000 and his Wife earns £22000 +bonus's which could be £5000
Their Son goes to child Minders Mon-Fri 9-5, and they equally share evenings and week-ends
A cheaper 2 bedroom house would be £150000
His wife has said she would probably rent/buy a flat. She doesn't like gardening
Thanks
Jeff
Expert:  Clare replied 1 year ago.
How much will a flat cost?
Customer: replied 1 year ago.
163;120000
Expert:  Clare replied 1 year ago.
Does your son wish to stay in the property?
Customer: replied 1 year ago.
Preferably yes
Expert:  Clare replied 1 year ago.
Has his ex agreed to that?
Customer: replied 1 year ago.
Customer: replied 1 year ago.
Hi Clare
Are you in a position to make a recommendation?
Thanks
Jeff
Expert:  Clare replied 1 year ago.
My apologies for the delayIf she is willing to leave the matrimonial home then that is a real bonus for your son as otherwise there would have been a very good chance that he could have to leave - or at least had a considerable fight on his hands.That being the case it is inevitable that such equity as there is is likely to be divided 50/50 between them despite the substantial contribution by your sonHe can certainly argue the matter and ask for a larger share - say 60/40 - but he will need to balance the cost of doing so with the risk of his ex changing her mind on the house.They should discuss the settlement using Family Mediationwww.familymediationhelpline.co.ukPlease ask if you need further details
Clare, Solicitor
Category: Law
Satisfied Customers: 33955
Experience: I have been a solicitor in High Street Practice since 1985 with a wide general experience.
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