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MARCUS Malin
MARCUS Malin,
Category: Property Law
Satisfied Customers: 2031
Experience:  Consultant Solicitor at Setfords
66642005
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I would like to sell my property. I bought the property in

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I would like to sell my property. I bought the property in my name in 2006 and when the 2 year fixed was up, I remortgaged and added ex my partners name to the deeds. We then split up in 2008 and he refused to contribute to the mortgage or repairs so I have made every repayment since then. I now wish to sell the property and would like to know if I have any rights in relation to the proceeds?

Hello, my name is Marcus.

When you transferred the property into joint names did you enter a declaration of trust to reflect your contribution at that point.

Is the mortgage interest only or capital repayment.

Thank you.

Customer: replied 16 days ago.
Yes I had a declaration of trust written up, I had £11,500 capital which was 10% of the property value. The declaration of trust reads that I have the right 'to the first 10% of any equity to her and the remainder between proprietors in equal shares' the mortgage is a capital repayment
Customer: replied 16 days ago.
I am hoping that as I have paid the mortgage from my bank account for all these years and received no help from him for the repayments that this can be taken into consideration when it comes to splitting the sale proceeds. He contributed to approx. 1 years mortgage repayments and I have owned the property for 14 years and paid for all repairs etc with no contribution from him

So that will be the staring point.

We now apply what is known as equitable accounting.

Firstly you can claim to be deducted from his share as per the deed a figure equal to half of the capital reduction of the mortgage since the date of separation. Your lender can most likely provide the information. So you need to known what the mortgage was at the time of separation and what it is now. Then half of the difference is deducted from his share and given to you.

If you have made any significant improvements then half of the costs of the same can also be deducted - but not for routine maintenance.

Finally as for the interest element of the mortgage payments that is more difficult to claim back as technically he would be entitled to occupation rent. This element depends on the the circumstances in which you separated.

Thank you.

 

MARCUS Malin and 4 other Property Law Specialists are ready to help you
Customer: replied 16 days ago.
Thanks for explaining. We seperated while in Australia due to abuse from his part, an injuction was put in place over there. Will this make a difference to the interest element of the mortgage?
Customer: replied 16 days ago.
another thing to add. He stayed in Australia so I have no contact with him, does this have any sway in removing him due to being unable to contact him and him being out of the country for 11 years?

Firstly as regards the interest element not the mortgage on how you describe you would be unlikely to get any credit.

The test is if you were forced out and prevented from returning then you are entitled to occupation rent and as such that is off set against the interest element of the mortgage.

As for the other matter relating to him being overseas when was the last time you had any contact.

You can apply to the court for an order for sale to yourself. All you need to demonstrate is that you have attempted to find him - most likely by way of instruction of enquiry agent in Australia - and if they say they cannot locate him then the court are likely to be satisfied.

The court can also in such circumstances sign sale documents on his behalf.

Thank you.

Marcus

Hello,

I would be most grateful if you could kindly accept my answer to enable me to get for it.

If you have any further questions please do not hesitate to ask.

Thank you.

Marcus