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Original poster

House sale

31 replies

mumtoateenger75 · 17/05/2018 20:54

I own my house with my ex we weren't ever married but have two kids together
We haven't been together for 10 years and I have just sold the home we own together
Do I legally have to give him 50/50 of profit or 70/30
The children reside with me

OP posts:
parietal · 17/05/2018 20:55

how much did you each put in as a deposit? who paid the mortgage over the last 10 years? who paid maintenance costs?

Original poster
mumtoateenger75 · 17/05/2018 20:56

No deposit
I have paid interest only mortgage for ten years alone

OP posts:
Original poster
mumtoateenger75 · 17/05/2018 20:57

If the house needed maintenance I did it with my own money etc

OP posts:
prh47bridge · 17/05/2018 21:07

If the house was in your name you don't have to give him anything. He would have to convince the courts that he was entitled to a slice of the equity (i.e. the amount you've got left after paying off the mortgage).

If the house was in joint names and you cannot agree the split between you it would be up to the courts to resolve. The initial assumption would be a 50/50 split but you may be able to argue for more.

Fridakahlofan · 17/05/2018 21:10

You need to find out if you own the house as 'joint tenants' or 'tenants in common'. Google these terms to find more detail on the implications of each.
That said you can't sell a house without his involvement as he would need to sign the contract so I'm unclear how you could legally have sold a house he jointly owned?!

prh47bridge · 17/05/2018 21:46

You need to find out if you own the house as 'joint tenants' or 'tenants in common'

No she doesn't. If she and her partner wanted to own the house in unequal shares they should have been tenants in common and there should be a declaration of trust showing how much each owns. As the OP is unsure how the money should be distributed there is presumably no declaration of trust. It therefore doesn't matter how the house was owned (assuming it was owned jointly). The starting point would be a 50/50 split but the OP may be able to argue for more.

Fridakahlofan · 17/05/2018 21:58

Sorry pp but she does need to know if she owns as a joint tenant or a tenant in common.... there is no evidence either way from her posts so far as to whether or not she is a joint tenant or tenant in common.

When I was working as a family and property lawyer this would always be my starting point.

She seems to have sold the house without his involvement though so I can't see how he can jointly own in any case!

Original poster
mumtoateenger75 · 17/05/2018 22:17

No he is involved in sale
And it's all co operative
I just wanted to know def it's 50/50 split as that is what he tells me
But I just feel a little lost out as I have to buy a house big enough to house our children whereas he doesn't as he doesn't see them
Or pay maintenance

OP posts:
Collaborate · 18/05/2018 00:42

you could always apply to court under Schedule 1 of the Children Act for any order putting some or all of his half in trust for you until the children leave education. Look it up. See a solicitor. It's important the children are properly housed.

Fridakahlofan · 18/05/2018 07:39

Ok, ask your property solicitor if you both own as joint tenants or tenants in common.

If you own as joint tenants then it should be a 50/50 split. Unless you want a difficult legal battle.

If you own as tenants in common it may be that there is some evidence available on the property deeds as to how the money should be split. Usually a trust deed would be entered into saying that the amount you each get on a sale should reflect your contributions over the years (meaning you might even get all of it). Often people don't remember signing these trust deeds when they buy because their lawyers just send a standard form. If there is no trust deed then the starting point is 50/50 but you have more wriggle room to ask for more.

Do not listen to your ex partner and seek advice from a lawyer. When you know the strength of your position try to get your partner to agree to a division of the funds without lawyers but remain firm and make it clear you will engage them if you need to.

Xenia · 18/05/2018 08:12

So you have sold it. Surely the solicitor who did the sale did not just hand the proceeds all to you? I don't think they are allowed to if the property is in joint names. Is the money sitting in their client account?

From the time you both bought together check for any documents at the time. People often find it hard to track them down but you could look and also contact solicitors from that time so they can check . You are looking for any agreement about your percentages. If there really is nothing agreed at all then it is 50/50 as a starting point but as said above if you need all the mnoey to house the children then you might get more under the Children Act (above).

If you paid everything and there was no agreement it was not to be 50/50, you might be able to argue that he holds his half on trust for you are least to some extent, although possibly you could only have bought in joint names with his salary as part of the lender's criteria so that you own in a sense partly because of him and so it is fair he gets a share.

If you want more than 50% try negotiating with him (once you have spoken to a solicitor) as it will be a lot cheaper to reach amicable agreement than have a court case over it.

I think it is likely he will get 50% as you both chose to put it in joint names and chose not to have a written agreement about a different percentage but might be worth a try for more as you paid all the interest.

prh47bridge · 18/05/2018 08:40

Fridakahlofan

I don't think we are as far apart as you think we are. I was working on the basis that there doesn't appear to be a declaration of trust. Therefore, regardless of how the house is owned, the starting point is a 50/50 split. It will be easier for the OP to argue for more if it was tenants in common but she may be able to get more even if it was joint tenants. And she can make a Children Act application either way.

Original poster
mumtoateenger75 · 18/05/2018 16:29

I have only just sold it so our solicitor is now dealing with the sale. My ex is completely aware of everything and pro active with sale due to a profit he has in property
I know it's probably not worth the court case for more than a 50/50 split but s you all can appreciate I have paid for the house 13 of the 14 years ownership and I have to move to. A bigger house to home our girls whereas he can just buy a one bed flat as it's only him

OP posts:
Xenia · 18/05/2018 17:38

May be wants the girls or they will live with him half the time however?

Your solicitor will need separate instructions from both of you as to where your share of the money will go and might freeze the money until you resolve any dispute over your shares by the way so I would try to negotiate with your ex.

bastardkitty · 19/05/2018 06:55

OP has said he doesn't see the children or pay maintenance. You haven't said OP whether the property was in your name or both names. If it's just yours tell him to GTF.

greendale17 · 19/05/2018 07:42

For goodness sake will people please read the thread properly. OP has already stated that the house was bought together!

Original poster
mumtoateenger75 · 19/05/2018 08:54

Yes we bought the house together and when he left I stayed in property due to kids schools etc
I paid mortgage etc and now after 13 years we are selling it
We have sold it and I have been told he is entitled to 50 percent of the profit

OP posts:
PalePinkSwan · 19/05/2018 09:32

You have not sold it.

You have accepted an offer, and your solicitor is dealing with the proposed sale.

So now is the time to speak to your solicitor, explain what you have here, and get actual advice about how the money needs to he split.

BeyondThePage · 19/05/2018 09:38

You have not really paid anything off the house though with an interest only mortgage, and no deposit, so you have contributed no actual capital other than any "upgrading" you have done.

(wear and tear or maintenance repairs do not count).

This will be why he is claiming 50/50 on the profit.

BubblesBuddy · 20/05/2018 01:45

I am amazed you didn’t sort ownership and financial details out when he left that and you paid the mortgage all these years without thinking about any eventual sale. It was inevitable he would want the money at some point.

greendale17 · 20/05/2018 08:38

You have not really paid anything off the house though with an interest only mortgage, and no deposit, so you have contributed no actual capital other than any "upgrading" you have done.

^This. I imagine you interest only mortgage is lower than if you were to have rented privately for all these years so you have been in a better position than your ex. I can see why he wants 50/50

Xenia · 20/05/2018 09:55

My gut feeling is he will get 50% so if this fight could cost you both says £20k in lwegal fees and hold up distribution of hte proceeds for 1 - 2 years it woudl be worth negotiating - may be he will accept you get 60% as you did pay all the interest on the loan eg you could so some sums of what he has saved by not housing his children (and not paying maintenance if he is due to pay any - he may have had no income) against what you saved by paying interest only and not paying rent which might have been higher particularly if his income helped you both get the mortgage in the first place. the you both sign an agreement in full settlement and the solicitor can then release the proceeds in the appropriate proportion. Unless there is a vast amoutn such as £500k at stake you need to look very carefully at whether the costs of going to court might just swallow a lot of the sum in dispute between the two of you.

pastabest · 20/05/2018 10:14

So why isn't he paying maintenance?

How old are the children if you have already been separated for 10 years?

Original poster
mumtoateenger75 · 20/05/2018 14:46

Because he quit his job and went cash in hand to avoid paying any x

The kids are now 15 and 11

OP posts:
ScrubTheDecks · 20/05/2018 15:09

“You have not really paid anything off the house though with an interest only mortgage, and no deposit, so you have contributed no actual capital other than any "upgrading" you have done. “

But the OP has been paying all the interest during the years it has been increasing in value! And housing his kids in it.

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