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Harris
Harris, Law Specialist
Category: Law
Satisfied Customers: 2296
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: 6 months ago.
Category: Law
Customer: replied 6 months ago.
Posted by JustAnswer at customer's request) Hello. I would like to request the following Expert Service(s) from you: Live Phone Call. Let me know if you need more information, or send me the service offer(s) so we can proceed.
Expert:  Harris replied 6 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 6 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 6 months ago.

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

Expert:  Harris replied 6 months ago.

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

Customer: replied 6 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 6 months ago.
Additional info - we have paid equal contributions financially for the loft conversion.
Expert:  Harris replied 6 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.

I hope this assists you. If you found this information helpful please provide a positive rating using the stars at the top of this page. I will not be credited for your question without a positive rating. Thank you.

Harris, Law Specialist
Category: Law
Satisfied Customers: 2296
Experience: Family Law - Specialist in Divorce, Financial Relief and Children Matters
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