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JGM
JGM, Solicitor
Category: Scots Law
Satisfied Customers: 11146
Experience:  30 years as a practising solicitor.
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The house is in joint names, but with an inheritance i have

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The house is in joint names, but with an inheritance i have paid the mortgage off, this is the second time i have done this. What would happen if we split up and sold the house would it have to be divided 50/50 or would i be entitled to more of the proceeds?
Submitted: 10 months ago.
Category: Scots Law
Expert:  Nicola-mod replied 10 months ago.
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Expert:  JGM replied 10 months ago.

The general rule is that monies inherited from a third party don't form matrimonial property and shouldn't be taken account of in a separation and divorce. The money is ring fenced. However, if the recipient uses the property for marital purposes including paying off the mortgage on the matrimonial home then it is deemed to be converted to matrimonial property and would enter the "pot" to be shared between the parties. It is no longer ring fenced. You do still have an argument against equal sharing, however and that is to argue that the money used to reduce the mortgage was not derived from the income and efforts of the parties and that unequal sharing is justified. Happy to discuss. I hope that helps. Please leave a positive rating so that I am credited for my time.

JGM, Solicitor
Category: Scots Law
Satisfied Customers: 11146
Experience: 30 years as a practising solicitor.
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