Thank you for your response and for clarifying that for me.
Please do accept my apologies for not being able to respond to you sooner.
The legal starting point when you own the house as joint tenants is that you are each entitled to an equal share of the profits. From the figures you have given to me the current equity in the house is between £220k to £250k.
Your ex by seeking £120k is asking for around half of the current equity.
What you need to know is that you do have the possibility of asking the court to make a declaration as to your interest in the property. This is worth considering in your case because of the substantial extra monies that you paid in relation to the property over your ex. Even though the legal starting point is that you are each entitled to an equal share of the equity as joint tenants, a court can consider the extra financial contribution that you made and because this is substantial a court can decide to award you a larger share of the interest in the property. The area of law that deals with such cases is the Trust of Land Act.
What you need to consider first is mediation. Mediation is independant and will try and help you reach agreement in relation to the division without the need for court. Google family mediation in your area and give them a call to self refer.
If mediation does not help you reach agreement then you can apply to your local county court for a declaration as to you interest using this form:
The court fee is £308.
You should attach to your application as much evidence as you can obtain in relation to the significant extra contributions that you made.
If you wanted to be fully represented in these types of proceedings then you would be looking at circa £5-10k in legal fees. Given the amount of additional monies that you spent on the property then does seem worth the litigation risk.
Let me know if I can assist you further
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