Welcome to Just Answer
I am a Solicitor and will try and assist you.
Please may I ask:
- when the property was purchased did you buy it as joint tenants or as tenants in common?
- was there any trust deed?
- where are the sale proceeds now? are they with a solicitor instructed by you? him? or jointly?
Thank you for your response.
I am glad to hear that ou have not signed anything yet.
What you need to do is to find out if you were tenants in common or joint tenants.
The reason I say this is because there is a huge difference in respect of your entitlement in relation to whether you are joint tenants or tenants in common.
You need to try and find your original paperwork or ask the solicitor that was instructed for the purchase to send you a copy of the file from the time.
Basically if you are joint tenants and there was no trust deed - then all equity in the property is split equally between you. This means that he cant set aside the equity that he paid for the deposit, or anything else for that matter - it just gets split equally between you.
If you are tenants in common - then you each have shares in the property and the trust deed will clarify what those are and how much you are entitled too.
You are right to be cautious and not sign anything yet.
Make sure you make the enquiries so you know the position before you agree to anything.
let me know if I can help you further.
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