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It was my understanding that if you sell one property when you own a second one, you have to pay capital gains on it?
He bought out my half of our deposit and mortgage contributions plus a small amount which I guess was the interest. He is a Financial Director and I do believe he did it 'properly' as it was not an acrimonious split.
My issue is that he did not remove my name from the mortgage and as such as I have been liable for it all this time, am unable to get a mortgage of my own, and am concerned about the capital gains tax situation. It is thanks to my salary and name on the mortgage that he has been able to retain the property without remortgaging and now sell it at a vast profit.
I don't want to be difficult or bitter; I'm not, I am just wondering whether legally I have any right to financial compensation for the fact that my name remains on the deeds and the mortgage.
If I don't, that's fair enough.
The flat was bought for £265,000 and sold for £451,000.
I don't know how much is outstanding on the mortgage as none of the statements have ever come to me as the bank think I live with my ex, and he hasn't forwarded anything on.
I started the mortgage application process and then I got an email from him saying he was selling, realised I still technically owned this flat, and stopped my application.
I am waiting for him to forward me the document I signed at the time. I will send this to you once I have it.
I am still awaiting the mortgage statement and the agreement I signed when my ex bought me out, these are being sent over hopefully this week. He and I have agreed that half the equity of the sale (£90K) is held by the solicitors acting on "our" behalf on the sale of the flat until I have sought advice.
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Redemption statement attached.