Ex and mortgage help

[NameChangeNeedHelps]

I'm a regular who has named changed. And posted in chat as I want this is disappear.

My DH and his ex purchased a house 15 years ago. I moved in 10 years ago. Offered his ex 10k to take off the mortgage etc and we have tried several times since.

Yesterday we received a letter from her solicitor says she wants to be removed from the mortgage, and wants 50% of the equity. Equity is now about 200k!! Or she will force the sale of the house. They are joint tenants. And it was a 100% mortgage. The house was in negative equity for about 8 years but now isn't obviously.

Since she left she had not paid a penny towards the mortgage, we can prove this with bank statements etc.

We have booked an appointment with a solicitor for 2 weeks time! The lady we use is on leave. And the person we spoke to more or less just said pay her off.

Can she do this? Walk away with 100k for never paying and ignoring all requests.

Anyone help? Or give me some advice? I'm sick with worry!

Also posted In chat with little response

In all likelihood yes because as you say the equity has come from house prices rising not repayment of mortgage.

You may be able deduct 50% of the interest charges?

Were they married as that affects things? If they were married did they have a court sealed "consent order" dealing with finances?

If not and the house is in joint names was there a trust saying what % each of them owned?
If not, was the house held as joint tenants or as tenants in common?

She has probably severed the joint tenancy or your husband has.
If they were not married and no agreement the % holding is less than 50% then yes she is likely to be entitled to 50% of the equity just as she would have been liable on the mortgage for massive losses if the property were worth a lot less than now and they both sold.

You may be able deduct 50% of the interest charges?

No - not at all. You can do it with capital repayments but not interest.

Though as LucySky says, if they were married and your husband was the one to divorce his wife, he may apply to the court within divorce for a transfer of property order.

First need to work out exactly what she morally owned at the point when they split up and she moved out. That is her property that she is entitled to. She is also entitled to the increase in value of that fraction since then. The only thing she isn't entitled to is any portion if the equity that has built up due to repayments that she hasn't contributed to since the end if the marriage/relationship.

Feeling sick about it is a bit overdramatic. You have been living in a house that is partially another woman's property for years and now the time us right for her to reclaim it. She has had every right to wait and not be pressured unto selling when the market value of her property was low.

Can she really force the sale of the house? Wouldn't your DH need to sign things etc?

Some cohabitants have an agreement in writing when they move in setting out the process for a sale later. I know someone who had that and as soon as he moved in his girl friend totally changed, was awful and he had to apply to court to enforce their agreement that she must sell or buy him out. The court ordered that and the property was sold.

Ultimately for cohabitants it is likely a court will order a sale and say who is in charge of sale, who controls buyer visits, which agent to use might also be agreed or sale at auction if not sold in 3 months or whatever. Much better to avoid that and perhaps try to do a remortgage and pay out the sum to the ex.