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Unmarried couple selling house-split equity?

4 replies

FlyMeToDunoon · 29/03/2010 11:38

Hi my partner and I are selling out house and will be renting together.
We do not have wills and I wondered what was the best way to bank the equity from the house.
Split into our seperate current accounts?
Just into one of our current accounts?
Put into a seperate joint account?
Some other type of high interest account in both our names?

OP posts:
BigBadMummy · 29/03/2010 11:41

Depends how much you trust each other!

personally I would want it in a joint account at the very least.

High Interest accounts tend to only pay higher rates if you promise not to touch them for a period of time.

I would go and speak to your bank and see what they suggest.

lal123 · 29/03/2010 11:41

we put the "left over money" from house sale into a joint savings account - the same as we do with the rest of our money. How do you treat other savings?

lal123 · 29/03/2010 11:42

Oh - and depends on what you want to do with the equity - if to be used in future purchase then would probably make sense to put it in a joint account?

FlyMeToDunoon · 29/03/2010 11:46

Well there's trust and there's being run over by a bus........ DP has not wanted any kind of joint accounts before but I feel I may insist with this.
I have my own savings account [with about £2 in it!]
DP has a seperate account in which he sometimes saves for things.

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