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Hi, thanks for your question. Just a bit more information required to fully assist you:
- Are they in England or Wales?
-Is the title of the property in joint names between them, if so is it as joint tenants or tenants in common?
Thanks for confirming. As they are not married, and as long as the title is in joint names, they are both on legally entitled to a share of the proceeds of sale in accordance with how they hold the title. Therefore, if it is joint tenants or tenants in common in equal shares, they are both only entitled to 50% each unless there is a formal agreement or either of them can prove there was another intention to differ from this.
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Even if he wishes to buy out her share she is legally entitled to a share of the proceeds in accordance with how she holds the title.
Therefore to buy her out she needs to find out what the value of the property is now, then minus the outstanding mortgage and costs of sale (usually 2.5-3.5%) and divide by 2 if they equally own the property.
Apologies that you feel that, however, the answer was initially provided and there is not much else information that can be given. They are both not married and the title is in joint names, therefore your daughter is legally entitled to a share of the equity in accordance with her share of the title.
If they agree for her to be repaid the deposit and her contributions then such an agreement can be reached between them. However, a court will not agree that this is reasonable as the terms of the mortgage could be that it is interest only and therefore the contributions they have been making do not add value to the property and a court will not consider that this contribution should be compensated.
Again, she is entitled to a share of the equity in accordance with how she holds the title.
Thank you - I hope it goes well. If you have any questions in the future you can ask for me directly by starting your question For Harris