House Sale Proceeds

[Whybird]

I'm in the process of selling my house that I own with my ex-partner. We own the house as tenants in common on a 50/50 basis, my ex has never lived in the house or made any financial contribution towards the mortgage payments or upkeep of the house.

I know by law that I have to give him half a share of any profits, but I'm loathed to do this as he's not made any contributions.

I'd be grateful of any advice or if anybody has been in a similar situation and what they did

If it's 50/50 TiC that's what he gets, unless he agrees otherwise or unless you can prove that there was a written or verbal agreement that you'd get repaid other monies from the net sale proceeds before they're divided. Or unless your divorce settlement set out any alternative agreement.

unless you have documentation (ie a declaration of trust) stating that you should get more than the 50% there is pretty much nothing you can do unless he agrees otherwise now.

I had a friend in this position and she got 50% plus half of all the mortgage payments, i.e. what he would have paid if he'd ever contributed-it is worth discussing this with your solicitor

Thanks all for your replies, emskaboo do you mean that your friend got 50 % of the equity plus half of the mortgage payments out of her ex partners equity share?

Thanks

I had always understood tenants in common to mean different amounts and NOT equal which would be 'joint tenants'.

In any event defo check with solicitor ref any extra monies you can get. You should be able to get more based on children length of marriage etc. as far as I know.

With tenants in common there is a presumption of a 50/50 division unless other percentages are contained in a trust document. Joint tenants is nothing to do with equity share; it's more to do with what happens to the property in the event of the death of one of the owners (although if there was a sale, each party would probably receive 50% of the equity).

I would definitely check the situation with your solicitor. The trust deed drawn up showing 50/50 shares probably assumed an equal contribution to all costs pertaining to the property. That didn't happen, so there needs to be some revision of the original shares, or a contribution towards all actual costs incurred by the party who failed to contribute at the time.

Sorry for the delay, Virgin are pants! Yes that's exactly it.

I am also currently in a similar position.

My ex and I are tenants in common. When we bought the house, we each put down 50% of the equity. For the four years since, he has been paying the mortgage, whilst I have contributed more than that in renovation costs, etc.

My sol advised me to go to the land registry and get a copy of the title deed, and transfer documents.

If you are t-i-common, the law assumes a 50/50 split. BUT, if the title deed is 'silent' ie. doesn't actually specify 50/50, then there is room for negociation through sols, or in court if necessary.

fwiw, my sol is hoping to achieve a lot more than 50% for me, although there are two of his children involved who need to be housed.

A good family sol will be able to give you advice specific to you.

HTH