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ReadyLaw
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Category: Scots Law
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I am getting divorced. I paid £25k which was gifted to me

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I am getting divorced. I paid £25k which was gifted to me into our marital home 20 years ago. Since then the property has tripped in value. Am I entitled to get £75k out or just the £25k I put in?
JA: What steps have you taken? Have you filed any papers in family court?
Customer: No kids are 18 and 2w. We are trying to draw up out financial.minute of agreement. I have seen a lawyer but didn't ask that question.
JA: Have you talked to a lawyer about this yet?
Customer: No, thought I'd ask here as says free advice?
JA: Anything else you want the Lawyer to know before I connect you?
Customer: No thanks
Customer: replied 1 year ago.
Kids are 21 and 18. Married 22 yrs.

Good day your question has been forwarded to me to see if I may be able to assist

Is there a mortgage on the property?

Customer: replied 1 year ago.
No mortgage
Customer: replied 1 year ago.
Don't want to call thanks.

That’s fine re call. That was an automated prompt. Kindly give me a minute I am typing my response to you.

The usual position is for their to be an equal split in the equity in the property. So in theory, it would be an automatic presumption that it would be 37.5 equally between the parties.however, you may ask the court to consider other factors in your favour, such as your contribution to the acquisition of the property, whether you were the one who paid the mortgage payments etc. so this would increase your share.
you could therefore ask for a share depends on the different factors anywhere between 37.5 to 60k. It is highly unlikely that you would be awarded the full 75k.

Hope I clarified things for you. Kindly let me know if I may be of further assistance.

Kindly take the time to indicate your acceptance of the answer given. You may do this by clicking on the stars at the top of the page.

All the best

RL

Customer: replied 1 year ago.
Thanks bit what I mean is we bought the house for £86k and I put in £25 k that was gifted to me. Now house probably going to see for £260k. I would like to get that portion back so afyer we do 50/50 split =£130K each I would like the nearly 1/3 I put in back in addition to my half. Is that fair??

I misunderstood you earlier. I thought the value of the house was 75k. It is not unreasonable for you to ask for half in addition to the initial investment. I must be candid in saying however that this if you were to go to court, there may be other factors that may be taken into account that would affect whether you would get the full 25k. For example, your partner could speak to contributions they too have made whether it be financial or otherwise. I recommend therefore that while you may ask for the initial investment back, it is not unheard of for persons to be willing to be flexible. For example you could ask for half of the interest in the house in addition to say 15k to reflect your initial investment,

Customer: replied 1 year ago.
Thanks. What I really want to know is whether the initial £25K (29% of initial purchase price) investment from me would now be worth £72.5K which reflects the amount the price has risen by. So I take 29% of value then divide the remaining 71% of equity between us 50/50.

Yes it would not be unfair for you to make such a claim. You would however have to be prepared to be flexible, in that, you have to balance the litigation cost of holding out for 71% as against agreeing to say for example 65%.
If she decides not to agree to 71. You would have to say how much you would have to pay the solicitors to take this matter to court.

you are welcome

Customer: replied 1 year ago.
Thanks so much for the advice

You are most welcome

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