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Clare
Clare, Solicitor
Category: Property Law
Satisfied Customers: 33316
Experience:  I have been a solicitor in High Street Practise since 1985 with a wide general experience.
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I own 40% of a property with my ex and he lives in the house.

Customer Question

I own 40% of a property with my ex and he lives in the house. He paid the whole deposite. If it went to court would I get 40% or would they take into account that I had put no money into the property?
Submitted: 3 years ago.
Category: Property Law
Expert:  Stuart J replied 3 years ago.
What did you contribute?
Customer: replied 3 years ago.

I paid half the mortage for one year and then when back to university so paid the bills for a year and nothing towards the mortage so I have contributed very little. He has offered me £3000.

Expert:  Clare replied 3 years ago.
Hi
When you say that you own 40% was there a Separate Declaration of Trust or was this simple expressed on the TR1 as your being Tenants in Common in unequal shares.
When did the purchase take place?
How much is the house worth and how much is outstanding on the mortgage
Claire
Customer: replied 3 years ago.


I think we are tenants in common. we purchased the house 3 years ago, the house is worth between 115,000- 125,000 and we still owe 100,000 on the mortage.

Expert:  Clare replied 3 years ago.
Hi
What makes you think it was agreed that you would have a 60/40 split - do you remember?
Claire
Customer: replied 3 years ago.


because he had put the 10% deposit down i agreed that I would not own 50% as I had not contributed to the deposit.

Expert:  Clare replied 3 years ago.
Hi
How much was the deposit?
Claire
Customer: replied 3 years ago.

10,500

Expert:  Clare replied 3 years ago.
Hi
Was this agreement set out within the title deeds?
Claire
Customer: replied 3 years ago.

Sorry but I don't really know what this means. It was never mentioned in the deeds that I had not contributed to the deposite if thats what you mean?

Expert:  Clare replied 3 years ago.
Hi
Have you actually had a valuation of the property - or better still two or three?
Claire
Customer: replied 3 years ago.

No as I don't live there any more I have not been able to. Would it have change that much in 3 years? Even if it went for the top of what we think it is worth, would i get much more than the £3000 he has offered me once we had paid legal fees? Obviously I have not paid anything towards the house since I moved out 8 months ago, would they also take this into account?

Expert:  Clare replied 3 years ago.
Hi
You are taking a sensible approach.
If it was sold for £115,000 with £5,000 sale fees then your 40% would be worth £4000. If it sold for £120,000 it would be £6,000 and at £125,000 £8,000
Another option would be to say that your ex should have his deposit back and the balance divided equally between you - the equivalent figures would be between £2,250 and £4,750.
You have considerable room for negotiation and the starting point will be to write and say that you will need copies of an up to date valuation of the property and a copy of the latest mortgage statement and possibly ask for a further £1000 for a quick settlement
Claire

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