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Harris
Harris, Law Specialist
Category: Law
Satisfied Customers: 2725
Experience:  Family Law - Specialist in Divorce, Financial Relief and Children Matters
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I have a property and the mortgage is in my name and my

Resolved Question:

Hi, I have a property and the mortgage is in my name and my patner lives with me. My partner has invested equity in the property - if we were to separate would I legally have to pay him back the investment plus a % of the current market value or is it by agreement?
Thanks.
Submitted: 10 months ago.
Category: Law
Customer: replied 10 months ago.
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Expert:  Harris replied 10 months ago.

Hi, thank you for your question. Are you married to your partner and is the equity registered in the title, if so in what shares?

Customer: replied 10 months ago.
Hi, we are engaged not married. The equity is not registered in the title. I have paid £136k into the mortgage & he has paid £50k.
Expert:  Harris replied 10 months ago.

Thanks - are there any deeds of trust or formal agreements regarding the contributions?

Expert:  Harris replied 10 months ago.

Apologies, I cannot take a call at the moment but I can continue assisting you here

Customer: replied 10 months ago.
We did not have a deed of trust, however we did agree that we would treat the equity fairly by % split taking the house value into account. I'm just not clear which house value would be used - eg it was valued at £240k when he put in his equity and we have since made alterations to the property (loft conversion) so would assume to use an average value of estate agent valuations to decide what his share would be and not the £240k?
Customer: replied 10 months ago.
Additional info - we have paid equal contributions financially for the loft conversion.
Expert:  Harris replied 10 months ago.

Thanks for confirming. You would need to obtain a new market valuation as this could be substantially different to the previous value - and therefore the current valuation will be what is relevant.

Legally, only the people named on the title are entitled to the property and the proceeds of sale. However, as there appears to be an intention between you and contributions to the improvements to the property, you would have a claim against him to obtain a share of the equity.

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