Dear Sir, Madame,
My ex partner and I wish to sell our house and I need to know how the profit should be divided between us in relation to the shares we have put in.
The house was bought for £588,000 and hope to sell for £775,000.
There is £509,000 left on the mortgage.
Leaving £266,000.We then need to take out the following which we both put in, to give us the profit to then split. The following figures would also need to come back to each as we put in.
Claire £15,000 deposit + paid mortgage £9,600 = £24,600
Phil £43,800 deposit, £23,520 stamp duty + paid mortgage £61,288= £128,608
Leaving £112,792 to divide between the two of us, but I don't know how that should be split?
If I have the calculations right I should get back £24,600 + a % of the profit of £112,792
I hope you can advise to see if what my ex has offered is fair and if not I will need legal representation as we are joint tenants with no shares stated previously at any time, so think I could be entitled to 50/50.
Many thanks and I eagerly look forward to hearing from you.
Kind regards *****
E: [email protected]
M: 07947 146 124