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Madhu Pal
Madhu Pal,
Category: Law
Satisfied Customers: 601
Experience:  Solicitor at HPLP Solicitors
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I own a property with my ex partner. I would like him to buy

Customer Question

I own a property with my ex partner.
JA: Where are you? It matters because laws vary by location.
Customer: I would like him to buy me out. We have joint ownership. He paid the mortgage off last year. I lived there for 3 years (up until 2019) and contributed to the mortgage payments.
JA: What steps have you taken so far?
Customer: He paid the the deposit I am trying to work out what he legally owes me if he were to buy me out
JA: Is there anything else the Lawyer should know before I connect you? Rest assured that they'll be able to help you.
Customer: No
Submitted: 17 days ago.
Category: Law
Expert:  Madhu Pal replied 17 days ago.

Good afternoon

Unfortunately there is no "legal" calculation in respect of property, unless you entered into a declaration of trust to specify.

It would be a case of having the property valued and working out your retrospective contributions vs how much the property is worth now. Essenti

Expert:  Madhu Pal replied 17 days ago.

Essentially it is a case of coming to a mutually agreed figure amongst the two of you. There is no right or wrong.

Customer: replied 17 days ago.
Thank you
Expert:  Madhu Pal replied 17 days ago.

You're welcome, all the best.

Customer: replied 17 days ago.
if we can't decide on a figure what steps should we take?
Expert:  Madhu Pal replied 17 days ago.

You may need to consider mediation or instruct solicitors to reach an agreement.