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Splitting assets fairly - not married

(16 Posts)
Whenwillspringfinallyarrive Fri 13-Apr-18 15:35:31

Coming to the sad conclusion that my long-term relationship is over. We have been together many years but not married. We have a joint account for household bills, etc but otherwise keep our money separate. I don't see much of an issue splitting the furniture, etc.

But selling the house ... we have always contributed to mortgage and bills in proportion to out take home pay. Let's say hypothetically 65% me:45% him. He has always done the lion's share of the DIY, so added value to the house in that way. However, I do the majority of cooking, etc. We have a cleaner.

I'm wondering if there is any legal precedent and if not, what would be fair as I'd rather we were able to settle amicably between ourselves.

OP’s posts: |
Walkingdeadfangirl Fri 13-Apr-18 16:02:39

Sounds like a simple 50:50 split would be the most likely outcome if you went to the lawyers. Any reason why you think its not equally owned?

Whenwillspringfinallyarrive Fri 13-Apr-18 17:10:44

Because I've always put more in financially the entire duration of our relationship and we are NOT married?

OP’s posts: |
PitilessYank Fri 13-Apr-18 17:15:31

Could you clarify-65% plus 45% is 110%-did you mean 65/35?

strongswans Fri 13-Apr-18 17:16:45

With those hypothetical splits and with your partner adding value through diy, unless there were any major differences of deposits at the beginning I agree with a pp, 50/50 split sounds about right.

Pleasebeafleabite Fri 13-Apr-18 17:19:30

It will depend on how you legally own the house. Do you know whether you are joint tenants or tenants in common? Did you sign a trust deed to set out the shares?

In the absence of anything specific the house share would normally be 50:50

Justanotherzombie Fri 13-Apr-18 17:21:30

I think 50:50 is the way to go. A fight over unequal splits could turn nasty.

Jon66 Fri 13-Apr-18 17:24:25

This is trust law and quite complicated but basically;
what was agreed at the outset when you purchased the property.
What have you both contributed in terms of capital deposit.
What direct payments against the mortgage have been made by each party.
What if any improvements (not maintenance) have been made to the property and who made them and paid for them.
Then there is a basis on which to calculate the shares.
However, if the property is held as joint tenants the presumption is of equal shares.
These questions are the basic questions you need to answer. Once you have picture of who contributed what, then you have the basis for negotiation or litigation.

drinkswineoutofamug Fri 13-Apr-18 17:32:47

May I ask what is the difference between joint tenants and tenants in common?

Walkingdeadfangirl Fri 13-Apr-18 17:35:34

I cant imagine when they first bought the house they both agreed they would own different proportions of the house depending on how much every one has paid in. Most normal people would say they were buying the house equally.

If you only talking about the difference of 10% I imagine that will easily be eaten up by 2 lawyers as you argue the toss.

Walkingdeadfangirl Fri 13-Apr-18 17:46:52

joint tenants = You both own the house equally (like in a marriage).

tenants in common = You own a share in the house, the percentage of that share is agreed when you buy it. So they could have agreed to 60:40 (or any percentage) split . This is commonly done when you are buying with a 'friend' or a relative.

I imagine the op is in the first scenario or she wouldn't need to post on here.

Whenwillspringfinallyarrive Fri 13-Apr-18 17:48:14

Sorry - yes I meant 65:35.

Thanks for responses. As I said I just wanted to get a sense of what would be considered fair and would rather avoid having to go through lawyers. It sounds like a 50:50 split is the way to go.

OP’s posts: |
Whenwillspringfinallyarrive Fri 13-Apr-18 17:48:58

I had assumed that would be the case for a married couple but wasn't sure if that would also apply for cohabiting couples.

OP’s posts: |
RandomMess Fri 13-Apr-18 17:50:15

You could say 55:45 and hope the other part is agreeable that you have contributed far more in £ - DIY is another task like housework TBH. Probably not worth arguing over 5% tbh!

TeenTimesTwo Fri 13-Apr-18 17:51:37

I would say 65:35 the same as you pay in.

DIY cancels out cooking in my opinion.

Shen0102 Thu 26-Apr-18 23:42:49

Verdict ?

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