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ukfamilysolicitor, Solicitor
Category: Property Law
Satisfied Customers: 1469
Experience:  Qualified Solicitor Currently specialising in Family. Also experienced in Corporate, Employment, Civil Litigation, Debt Recovery
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I am confused... I have Been paying my mortgage 25 years , still plenty remaini

Customer Question

I am confused... I have Been paying my mortgage for nearly 25 years , still plenty remaining. And living with my boyfriend for 8 years, but he never paid towards the mortgage. All in my name. We have now got engaged and he would like to pay the remaining £200.000 off the mortgage. Where do we stand in the future. 25 years of hard work and budgeting against his quick investment. Does he go on the deeds. Or just get his £200.00 back if we split. The house is worth approx £500.000
Submitted: 2 years ago.
Category: Property Law
Expert:  ukfamilysolicitor replied 2 years ago.
Welcome to Just Answer
Thank you for your question.
I am a Solicitor and I will assist you.
Firstly - congratulations on the engagement.
These are the options:
Firstly - you get married and the £200k gets paid off the mortgage by your new husband.
If you were to do nothing - then if you were to get divorced in the future and your marriage was considered a lengthy marriage (over 5 years) then all the assets of both of you could be claimed in respect of the matrimonial finances. The starting point for division, after full financial disclosure and exchange, is normally 50 / 50 although there can be departures from 50/50 as set our in the Matrimonial Causes Act some of these being future, health needs for future, future care of children. It would matter if your husband was named on the deeds or not - he would still have a claim in respect of the matrimonial finances. This wouldn't just be the house but also all other assets including pensions.
If you didn't get married - but your partner paid off the 200k and his name wasn't added to the deeds - then he would have a Trust of Land Act Claim for that amount.
If you didn't get married and your partner paid the £200k and his name was added to the deeds - then you could choose to add him as a Tenant In Common or as a Joint Tenant. A Tenant in Common would have a distinct share in the property whereas Joint Tenancy is presumed 50/50. If you were to later get married then you are reverting back to the Matrimonial Causes Act position as per above.
You could consider making a Prenuptial Agreement. Although these are not currently legally binding per se, the courts are more and more willing to order in the terms as per a Pre Nup - if there was full financial disclosure prior to signing and you both had your own independent legal advice. However if you the marriage was again a lengthy marriage and there were children of the marriage a Judge might decide that a Pre Nup is not fair and order differently.
Please do not hesitate to ask if I can assist you further.
Kind Regards
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Expert:  ukfamilysolicitor replied 2 years ago.
Please remember to rate positively - kind regards