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Jo C.
Jo C., Barrister
Category: Law
Satisfied Customers: 32086
Experience:  Over 5 years in practice
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I have a Deed of Agreement in relation to a property I part

Customer Question

I have a Deed of Agreement in relation to a property I part own with my ex-partner. My percentage is 20% of the valuation. My ex-partner wished to acquire my share of the property and we have agreed the figures but there is still £125000.00 outstanding on the mortgage. The Deed of Agreement states 'The Parties shall without prejudice to the rights and remedies of the Mortgage be liable to pay the principal sum and interest under the Mortgage in the Proportions.' My ex-partners solicitor has stated that my share of the capital value is £25000.00 and will be deducted from the sum being paid to me. Do I have to pay this.
Your help would be appreciated. Thank you.
Submitted: 2 years ago.
Category: Law
Expert:  Clare replied 2 years ago.
Thank you for your question.
My name is Clare
I will do my best to help you but I need some further information first.
How much is the property worth and how much is outstanding on the mortgage?