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Clare
Clare, Solicitor
Category: Property Law
Satisfied Customers: 33821
Experience:  I have been a solicitor in High Street Practise since 1985 with a wide general experience.
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This is Alec Foley here Stuart. I am 64 years old and my

Resolved Question:

Hi This is Alec Foley here Stuart.
I am 64 years old and my partner of 32 years walked out on January 15th 2015 to be with someone else. The bungalow we shared is owned outright by us, and she wants 50% of the value.
The house is on the market with an estate agent for £360,000, real saleable value probably £300,000.
I had my own house 32 years ago when she moved in with me, but the only contribution she made, was to share our earnings from then onwards, she made no cash down payment to the initial house.
In January 1998, my Mother died, leaving me £36,945.24 in her will, which I used to pay off the mortgage I had at the time leaving us mortgage free. I have the receipts from probate and the building society.
Would a settlement to her now, assuming I could raise the money, of 50% of the value of the house, less that money my Mother left me, less fees for estate agents solicitors etc, be a reasonable proposal that would stand up in a court of law do you think please?
Thank you,
Submitted: 1 year ago.
Category: Property Law
Expert:  Clare replied 1 year ago.
Hi
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 does a cheaper one bedroom property in the same general area cost to buy?
What income do you and your ex each have?
Clare
Customer: replied 1 year ago.

Hi Clare,

One bedroom flats start at £90,000 and a one bedroom house is £167,000, each depending on location.

I earn £27500 PA and she earns £23500 PA.

Alec.

Expert:  Clare replied 1 year ago.
Hi
What pension provision do you each have?
Clare
Customer: replied 1 year ago.

Hi Claire,

She has a private pension which we started 27 years ago, which we paid in £103.90 per month, and I was paying until January this year, plus a Ceva Logistics pension.

I have a final salary pension which I am drawing on now which pays out £101.70 per month after tax. I also have a RAF war service disablement pension which pays out £393 per month which was awared to me in 1976, years before I knew her. I was hoping to keep working and defer my Old Age pension until I reach 75, to pay for a mortgage to pay her off.

Alec.

Expert:  Clare replied 1 year ago.
HI
I am afraid that the money that you paid in 1998 will not give you a larger share of the equity given the length of your relationship.
This means that the starting point for division of the equity is 50/50 - and frankly that is likely to be the end point as well
You could try for a 60/40 split n your favour given that she will be receiving the monies without fighting the matter through the courts.
I hope that however disappointing this is it is of assistance - please ask if you need further details
Clare
Clare, Solicitor
Category: Property Law
Satisfied Customers: 33821
Experience: I have been a solicitor in High Street Practise since 1985 with a wide general experience.
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