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How to split the equity fairly

10 replies

ProseccoLush · 10/09/2022 22:25

I have been with my DP for 30 years but have never married. We have 2 children together, DD16 and DS13.
Due to so many reasons we are now separating. We bought our house as ‘tenants in common’ 20 years ago and so the equity split as I understand it is a straight 50:50.
My question is should I be asking for more given that a) both children are coming with me and b) DP will not be providing any child support as he isn’t currently working (he hasn’t worked for the last 5 years and I really can’t see that changing any time soon).
It isn’t something we’ve discussed as yet. It was suggested to me only today that it may be something to explore.

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LadyGardenersQuestionTime · 10/09/2022 22:29

Can you house the children with a 50% split?

Threelittlelambs · 10/09/2022 22:32

Depends if he has enough to buy a property or if you intend to buy him out.

ProseccoLush · 10/09/2022 22:37

My plan is initially to go into rented until I am in a better position to sell. I have only recently returned to work full time myself having been part time since the children came along. So yes, with a 50:50 I could house the children to start with.
There is enough equity in the house for us to each walk away with £100k plus on a 50:50 split so certainly enough for both of us to put as a deposit on a new house

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ProseccoLush · 10/09/2022 22:38

*to buy not to sell

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Pixiedust1234 · 10/09/2022 22:40

Highly doubt it but you can ask your husband to be kind. Legally, as you aren't married, you can only have the 50% share.

ProseccoLush · 10/09/2022 22:47

Thanks. I knew that the legal stance is 50%. Just wasn’t sure if a financial order would consider that he is unable to contribute to the kids going forward.
Maybe he’ll be kind but as the separation is very much being driven by me and he doesn’t want it I’ll not hold my breath.

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Funnyfive · 10/09/2022 23:00

Yes you can get more, get legal advice. My unmarried friend got a house until her youngest was 18 when half the equity goes to her ex partner.

Ohsugarhoneyicetea · 10/09/2022 23:15

With ‘tenants in common’ the equity split is defined, could be anything 10/90 20/80 etc. Joint tenants is where it is 50/50. If you are not married then unless you are talking about millions where it worth going through a full court case, then it is as per the split on the deeds.

rwalker · 10/09/2022 23:29

It could cost u as much to argue about it

ProseccoLush · 10/09/2022 23:34

Thanks for the feedback. Looks like 50:50 is the way to go

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