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Clare
Clare, Solicitor
Category: Law
Satisfied Customers: 34581
Experience:  I have been a solicitor in High Street Practice since 1985 with a wide general experience.
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I have recently bought a property in joint names, with my

Resolved Question:

Hi.
I have recently bought a property in joint names, with my partner of thee years who is separated (3 years) now but not yet divorced. We also have an mortgage life insurance in place (if one of us dies, the mortgage will be automatically repaid.
My partner pays the monthly instalments (I pay the rest of the house expenses).
The wife claims 50% of the 50% of the property that is in my partners name but also my 50% since as she says I am not the one who pays the mortgage (my income is much less than his). I would like to know if , in the event of his death there is an indirect danger for me not only to loose my % of the property but also to find my self in debt. We were reassured otherwise by the mortgage advisor but we have those new development and my partner's current solicitor is not helpful. Should I remove my self from the mortgage and the property? I do not care so much for the money I would loose as for the danger to be in debt.
Thank you
Submitted: 6 months ago.
Category: Law
Expert:  Clare replied 6 months ago.

Thank you for your question

My name is Clare

I shall do my best to help you but I need some further information first

How much is your property worth and how much is outstanding on the mortgage?

Customer: replied 6 months ago.
Why would you need this information?
Customer: replied 6 months ago.
I was not asking about numbers. I would simply like to know if there is a danger for the life insurance not to pay in the case of his demise, since a percentage is still considered a matrimonial asset.
Expert:  Clare replied 6 months ago.

The figures would help me assess the risk of his ex making a claim - however you have now actually asked a different point - and i can confirm that you life insurance is sound and will pay out BUT of course that might also benefit his ex (although frankly I doubt it)

I hope this is helpful - if there is another aspect you would like me to cover please ask

Customer: replied 6 months ago.
Could you explain how the insurance could benefit her. It is a mortgage life insurance. If she benefits it would mean that the mortgage will not be covered entirely by the insurance and it would be up to me to do it. That is what I am afraid of. I would not like to spent the rest of my life in court against her.
Expert:  Clare replied 6 months ago.

If the Insurance pays out then the mortgage will be paid off. If (which as I said I doubt) she gets an interest in the property then that share would be larger

Customer: replied 6 months ago.
Sorry but I do not understand. She is already claiming everything( both our shares). And she might as well get it as long as the insurance pays the mortgage so that I don't. Maybe the correct way to ask would be: can the insurance repayment be affected by the fact that she is claiming part of the property? Or are those two separate issues? Would the insurance pay and then we go to court or is everything connected ?
Customer: replied 6 months ago.
Sorry if Iam making it difficult for you to understand. As you are probably aware by now Iam not a native speaker.
Expert:  Clare replied 6 months ago.

Just because she is claiming it does not mean that she will get it

The Insurance payment would pay off the mortgage - what share she got of the house would be a separate matter - you have no need to be concerned that you will end up with a debt

Clare and 2 other Law Specialists are ready to help you
Customer: replied 6 months ago.
Thank you for your help.