Splitting money minus family gift

[PiperAndLarry]

Please help me work this out - I'm getting so mixed up with the maths and H is bamboozling me. Obviously I will let a solicitor deal with this properly, but in the meantime I'd like to get it straight in my head.

His parents gave him a cash gift a while ago, which we used to overpay the mortgage. We're now having initial discussions aboout splitting assets: regards to the house, I've suggested a 50:50 split minus the money from his parents, which I don't want.

Here's how I've worked it out:
House value: £300k
Mortgage left: £100k, giving us £200k equity
£200k equity minus £30k PILs money
= £170k to spilt 50:50 (£85k each)

Here's how H has worked it out:
£200k equity split 50:50 (£100k each)
Minus £30k out of my £100k share to give to him, so I end up with £70k

To me, if that £30k had never existed, then we'd owe £130k on the mortgage now rather than £100k, so we'd be splitting £170k and getting £85k each. But H is very good at getting me muddled and coming across all knowledgeable and superior. So now I'm wondering if he's right and my share is £70k rather than £85k?

The bottom line is that he should come out of this with £30k more than you.

I wouldn't be negotiating myself with someone who is trying to rip me off financially. Although you're saying you just want to get it straight in your head, you have obviously discussed it with him. You cannot trust him and do not take his word for anything. Are there children involved? Pensions? Other assets? Hunt for evidence before it disappears.

You're definitely right OP.

Because the concept of paying them back is the easiest way of understanding the fairest way of doing it

Otherwise strictly speaking if it were a cash gift they both should benefit as it was gifted to both of them

Sorry I am wrong just to him so the 30k should be paid to him as if it were a charge then split

Either way the OPs way is right

No children. And I do have a good handle on our finances - we've got the same amounts in a pension each, an ISA each and so on. The savings/pensions therefore are straightforward. It's just the split of the house that is confused with the cash from PILs. I have got some solicitors lined up to tall to - I definitely won't be letting him rip me off. I just want everything fair.

Isn't it convenient that his way swindles himself 60k more than OP.

*solicitors lined up to talk to

Tell him that I'd he doesn't start playing fair and stop treating you like an idiot, that you'll be taking half the 30k gift too.

Twat.

He's abusing your generosity with this.

Isn't it convenient that his way swindles himself 60k more than OP.

Oh yes, very convenient Especially considering it has been me who has managed our money all these years - I did all the research and saving into pensions and savings accounts for us both, chased good interest rates, chased good mortgage rates. He just wanted to spend it all on nice clothes and cars and big TVs.

It was a gift to you both so I don’t see why he’d be entitled to keep it.

Your way is right - he gets 115k and you get 85k but as he's being such an arse I'd argue for a straight split to be honest. What was the gift of 30k actually for?

Any more funny buggers it will go in the “marital pot” and we will paying solicitors lots of money to do simple division and adult sharing.. or as you’ve rightly pointed out hubby you’ve more to loose than me now stop it. Good luck.

Just put him to it this way.

Without the cash gift, you'd have a £130k mortgage, so there's actually only £170k of equity in the house.

That's what you split equally, and he gets the £30k on top. Why the fuck he thinks that putting in £30k entitles him to £60k more than you I have no idea but I can see why you're getting divorced. I think it's very good of you to even offer this since I'm sure a solicitor would advise against it.

I put all my inheritance from my mum into our house - it's basically 50/50 equity and mortgage. If we ever divorced I would expect my husband to give up any claim to thehalf of the house I paid for with that money since all of our funds are shared.

Glad you're clued up. It would be hard for him to claim the additional 30k if he decides to be a knob about it.

Thanks everyone. I know I could easily claim half of the £30k but it doesn't sit right with me.

If he wants to start with the £200 000 equity split in half then explain to him he has already split the £30 000 in half so you only owe him £15 000, hence arriving at your correct numbers.
Your way of splitting it is the simplest, his is just plain wrong. (maths teacher here)

Have your parents ever given you money, OP?

Sorry, I meant I WOULDN'T expect. Whoops.

You're probably entitled to a 50:50 split. Have you got kids? Speak to a solicitor.

But if you didn't want to take his parents money into account then your calculations are right. I'd go for 50:50 if I were you, that'd teach him to be a greedy bastard.