Joint Tenants unequal split on selling

[ladykuga]

Exdp and myself split two years ago and we are now in the process of selling the house we bought together. Exdp wants back the exact amount he put in. While I am somewhat pissed off at this I have agreed (a small price to pay for my freedom). I will still have enough equity for a deposit on my new home. Do we need to have this agreement made legal/official? I just want to give him back his money with as little drama as possible.

@Familylawsolicitor thanks for the prompt reply. We are not married. Will draft an email from both of us stating what he should receive. It's unlikely he'll contest it as he was surprised at the figure anyway (it's more than 50% of his share)

Do you mean more than half of what he's entitled to, or more than half of the entire equity? I echo what FLS has said about the risk of either of you changing your mind before the proceeds of sale are distributed.

@Collaborate it's more than 50% of his share of the equity. We've sold at a loss but he still wants back what he put in! Never mind that he destroyed the relationship. I'm chalking it up as an expensive lesson learned.

Just to clarify if it wasn't clear - anything left after the sale is/was supposed to be split equally down the middle. I've been shafted but if it means being financially free and independent then it's a small price to pay.

I had a house with my ex. He had paid the deposit when we bought it but I always paid half the mortgage and much of the cost to do up the house. When we split and sold the house he took back his deposit (minus a bit for my expenses doing up the house). The rest of the equity was divided equally. The entire amount was paid to me by Solictors and i ensured ex got what he was owed. Our split was amicable though and he trusted I'd give him what he was entitled to.

@LemonDrizzle44 we each paid in 50% deposit with me paying £6k more (as that's what I had from sale of my flat). We have always paid mortgage equally but are selling at a loss. Have always been very conscious of paying my way even though he earns loads more than me. It's basically boiled down to me paying around £25k to be unshackled financially 😒. The moral of my story - keep my own eggs in my own bloody basket!

You should be taking an equal hit from the low sale price. Either you go straightforward and split equity 50-50 as is typical for joint tenancy or you take the % of deposit you put in eg you put in 55% he put in 45% and you get that back (can't see that happening if he is asking for exact amount in). I don't see why you would take a hit of £25k unless you are rich, particularly as you put in more to begin with. Why are you agreeing to that? Is he dangerous?

Fuck that. Sorry but why should you lose 25k to keep him sweet.

Get your money and run

@anguauberwaldironfoundersson @donteattheweetabix he can be very vindictive and controlling. The house is the only thing left that he feels he can still have a hold or say on in my life. He doesn't want to sell at all so to get him to agree I said ok to him getting his money back. He still pays for half of everything but hasn't lived in the house for nearly two years. Being financially shackled to him is madness. Besides I've found a lovely little place for me and our DD.

You really need to see a solicitor & have a legal document drawn up.