Unmarried separation & splitting house finances

[loopylou2020]

I'll try and keep this as sort as possible...

Purchased a house together 2 years ago, unmarried. Recently split but ex being very difficult about buying me out.

We have approx 20k equity in the house. When we bought, my partner paid about 80% of the deposit and other associated cost and me 20%. I then furnished the entire house. I've calculated the purchase costs and furnishings and I contributed 54% to all this and him 46%.

The mortgage has been paid out of his bank because he refused to open a joint account. I paid all the bills and we arranged between us the difference every month.

In my opinion, he owes me 50% of the equity and he keeps all the furniture I paid for as I believe that it shouldn't matter who paid for what, we both contributed (almost) equally to the house. He seems to think that he only owes me 20% of the equity and would agree paying me half of what I paid for all the furniture despite it being almost new.

He also thinks thank he can 'screw me over' because the mortgage has come out of his bank so it looks as though I've paid nothing. The same with the deposit, he believes it would appear that he has paid the full deposit so I'm only due a small amount of what I've paid to the house in 2 years.

Someone please tell me that this is unreasonable and he cannot prove that I only own 20% of the house. We are joint Tennant's so I believed that meant we owe 50% each regardless of where the mortgage payments are paid from and who's bank the deposit came from?

What's the percentages on the ownership deeds? How is it owned tenants in common etc? Usually that lays out how the house is owned and therefore who gets what on seperation

@Hazelnutlatteplease we are joint tenants no % agreed so just presume that means 50% each?

It's all down to the deeds of the house when you aren't married. What's yours is yours and what's his is his.

www.gov.uk/joint-property-ownership

Its 50/50 then. And argue it out over the furniture

As pp if you are joint tenants it’s 50:50

Thanks all.

I have read online that he can apply without my agreement to change to tenants in common - is anyone aware how this could work? I'm obviously very anxious as the deposit and the mortgage has been paid out of his bank despite me paying half

@OneRingToRuleThemAll that doesn't really make sense? We've paid equally half towards everything out the house, it's just that we paid individually for things and shared the cost/paid each other any difference

@OneRingToRuleThemAll that doesn't really make sense? We've paid equally half towards everything out the house, it's just that we paid individually for things and shared the cost/paid each other any difference

Hi and speak to a solicitor op

Get some advice from a solicitor

I don’t think that’s correct and if he wants to apply as tenants in common that would be 50:50 Unless you both agree shares in another proportion which you would have to agree and sign

The deeds tell you how the house is held _ doesn’t matter who paid what. If it’s joint tenants you own equal shares even if one paid 100% of everything

You need legal advice. I believe that the joint tenancy can be severed by way of service of a notice by him, but then I think it would still revert to be tenants in common in equal shares (i.e. 50:50). Unless he took steps to ring fence his deposit, by way of a deed of trust or similar, at the time you purchased the property, then I think he's on a hiding to nothing.

But please get legal advice.

I hope you get advice from a solicitor and get this resolved.

While I can see, from your point of view, that it doesn't matter whether you paid for or contributed to the deposit or the furniture, Your 'partner' has been very clever because the house as an asset tends to keep its value whereas second hand furniture has very little realisable value.

Anyone buying a property together should be aware of this pitfall and actually set out what would happen if you decided to sell up.

@millymollymoomoo

I don’t think that’s correct and if he wants to apply as tenants in common that would be 50:50 Unless you both agree shares in another proportion which you would have to agree and sign

@MillyMollyMooMoo is correct. I had to sever a joint tenancy a few years ago to tenants in common. My solicitor confirmed that the house will be split 50/50 automatically unless both parties agree to different proportions. While a joint tenancy can be severed by either party without the other’s agreement it cannot be split in different proportions unless both agree. You could take the bull by the horns and sever it yourself so it would go 50/50.

If the house is joint tenancy then its 50/50 and he doesnt have a leg to stand on. With regards to things you paid for, if you have the receipts and can prove you paid for them then they are also solely yours as you are not married and have no obligation to split anything else.

It's sensible to get legal advice with such a lot a stake. You can get free advice at freesolicitoradvice.co.uk I sincerely hope things get resolved.

I would say you're entitled to 50% of the equity, but you have to factor in all the legal costs of splitting the property. I'm assuming you can prove that you've paid all the bills over time? As others have said, the furniture will be valued at the current price, as it is second hand. You'd be better off just sharing it out between yourselves.
What figures are you talking about for the original purchase costs, i.e. Deposit, mortgage fees, legal fees etc?

@loopylou2020

Thanks all.

I have read online that he can apply without my agreement to change to tenants in common - is anyone aware how this could work? I'm obviously very anxious as the deposit and the mortgage has been paid out of his bank despite me paying half

You should have completed a declaration before purchasing which states who paid what for the deposit and submitted bank statements showing where that money was coming from. Did you not do this if you gave money towards the deposit?