Ex asking for too much - AIBU?

[PositivityNeeded]

Can anyone help me with a legal matter. My ex partner and I bought our first house together back in 2008 and we both contributed £12,000 each towards the deposit. We never married and split, after 3 children 4 years ago. Both names were on the deeds of our first two properties but upon buying the third house we moved into, he had become self employed and it was advised to put the mortgage in my name only and subsequently on the deeds of the house. He couldn't pay his half of the mortgage some months so I paid his share each month that he couldn't.

We split 4 years ago (his decision) and he moved out and rented. He said I could stay in the house until our youngest becomes an adult (8 years time) and then we'd need to sell and he would like his £12,000 plus any equity earned on that portion up until he moved out.

Now he is asking me to sign a legally binding agreement to the effect of the above but I feel this is my home as my name is on the deeds and he chose to move out. I'm willing to give him his £12,000 once I sell in 8 years but no more as I've been paying the mortgage ever since he upped and left. We go halves on all childcare costs and neither ask the other for maintenance. Can he force me to sign? Am I being unreasonable?

Yabvu. How much equity was in the house by the time you bought the 3rd house? He’s entitled to 50% of that. He’s also entitled to 50% of whatever more accrued during the time he lived there. He was daft not getting his name on the deeds but I doubt he would have much issue proving it.
He’s been very reasonable allowing you to keep his equity in the house till your child is grown. You are benefitting from that with interest saved. You may find he’s entitled to 50% of the value of the house at that time as his money is still invested in it. And while you are paying the mortgage now, you are also the one benefiting from the house so you might find that doesn’t count for as much as you think.
How are you justifying him only being entitled to 12,000? That makes NO sense.

This is messy.

OP, remortgage the house so you can pay him out right away.

12% of the fair market value at the date he receives his money, with the deductions for where you covered the mortgage for him.

He's worn the opportunity cost of having his equity tied up in your home.

The 12% was only on the 1st house. They got 3 houses and 11yrs of equity before they split up. He’s entitled to a lot more than 12%

You are being incredibly unreasonable. Fortunately the law will agree too

No, he’s not asking for too much, you are.

DO NOT SIGN ANYTHING
Please get legal advice.

The fairand moral position (IMO) is whatever the % of the initial prooperty that 12k deposit paid for, then that is what he is "due" from whatever the value of the house was 4 years ago.

From then on, I think he's still due something for the fact his money is still tied up in your house. Maybe an inflationary amount.

If I were you, I'd buy him out now.

Legally if his name is not on the deeds he’s not entitled to anything

morally but be a different matter

Not sure on the legality, in terms of whether it is a default arrangement or not.

But one of my friends had it so after he moved out the wife "rented" his half of the property from him. So even though she paid 100% of the mortgage (e.g., £1000 per month), half of the was her share of the mortgage and the other half was rent due to him because she had sole occupancy of the house (he had to pay for truely rented accommodation). In the end, when the house was sold, the spilt return 50/50 (e.g. sold for £300k, both got £150k) despite her "paying all the mortgage".

They went through a solicitor to set it up and it was understood as fair - I don't belive his ex wife would have tried to "help him out".

At the time of buying, you each owned the house 50/50, given you both put in £12k.

He therefore would have been entitled to 50% of whatever the equity was 4 years ago when he left, as it was your 3rd house together; the £12k would no longer be relevant.

To suggest you should only pay him £12k is morally bankrupt, given he has been more than reasonable.

You are lucky he has not forced a sale so far, and if you don't get legal advice to sign some sort of document agreeing how you split the house, you may find him going down that route.

YABU and you know it.

He's entitled to half of the value of the house as it was four years ago, minus half of any mortgage/costs of selling.

If he takes you to court, that is what the court will most likely award so save yourself the court fees and stress, and pay him what you owe him.

No he would have been entitled to 50% of the equity at that point plus adjustment. Your calculation is still too low.

In reality she should buy him out now or sell up now to give him his share if she can't buy him out