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tdlawyer
tdlawyer, Lawyer
Category: Property Law
Satisfied Customers: 1096
Experience:  Lawyer with 9 years experience of advising on property issues.
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I moved into a new house with my then partner in 2011. My name

Customer Question

I moved into a new house with my then partner in 2011. My name was the only one on the mortgage through out our time together. During our time together we did have a joint bank account where our bills came out of. I was the highest earner in the house. In 2013 she decided to split up with me and got a place of her own using our savings which we agreed with at the time. I have now decided to sell a year after we split up n she moved out and she says she is entitled to a share of the profits. Is this correct?
Submitted: 3 years ago.
Category: Property Law
Expert:  tdlawyer replied 3 years ago.

tdlawyer :

Hello, welcome to the website. My name isXXXXX can assist you with this.

tdlawyer :

When you first split, did you agree to let her set up with the savings as a "full and final" settlement of financial issues between you (including the property) - did you discuss this with her?

Customer: We agreed she could take savings and use and sale of the house I would deduct what she took from savings in house price.
tdlawyer :

Now she seeks to ignore that deal?

Customer: I received an email last night saying she has seen the house up for sale and her solicitor says she entitled to some of it. We been apart for a year now so I didn't think she would be entitled to the house sale money.
tdlawyer :

You should tell her solicitors about the agreement that you had, but it sounds like, in part at least, they're right. If you agreed that what she had now would be deducted from the sale proceedings, it's right to say you expected her to receive something (depending on the amount sold for etc).

tdlawyer :

So in theory she is entitled to her share, minus what you gave her to set up again with.

Customer: All thus was said early on and so I wasn't thinking straight. I guess it my fault then n I'll have to pay her.
tdlawyer :

She seems entitled to somethin by the sounds of it, but what is another issue. It might be that proportionately you were putting more in than her, and you might say that should be reflected now in any split of the net proceeds.

tdlawyer :

i.e. if you put in 70% of the mortgage payments, for example, you would say you want 70% back now.

Customer: Because it was a joint account it's hard to say who's money paid for the mortgage even though I earned more a month.
tdlawyer :

Yes, it would be, and sometimes a "rough justice" has to be done. It's arguable you can factually relate back through, even through with no precision, as to what the contributions might have been.

tdlawyer :

There is no easy answer though.

Customer: Ok is she entitled to what house profit is now or from the last time she lived in it
tdlawyer :

This is something that has t be factored into the appropriate percentage split. She will be entitled to growth on the capital investment that has always been there and you will be entitled to an adjustment for your continued payments. It's a bit of a mathmatical headache, but it is possible to caclulate in this way.

Customer: Ok thank you.
tdlawyer :

Thank you!

tdlawyer, Lawyer
Category: Property Law
Satisfied Customers: 1096
Experience: Lawyer with 9 years experience of advising on property issues.
tdlawyer and other Property Law Specialists are ready to help you
Expert:  Clare replied 3 years ago.
HiYou have not made it clear whether the property is held in your sole name or whether it was held in joint names.If the property is actually held in your sole name you in fact have a great deal more power and there are relatively straightforward ways of calculating what the outcome should beIf the property was held in joint names then unless you protected your investment with a Declaration of Trust you are facing a simple calculation - you will have to pay your ex half of the equity (the net sale proceeds) less the amount already paid to herClare

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