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Is ex entitled to half the equity?

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3 years 6 months ago #491089 by KnockMeDown
Is ex entitled to half the equity? was created by KnockMeDown
Hi does anyone know whether my ex would be entitled to half the equity on the house if he hasn't contributed to it in the last 18 months since he left? Surely not
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3 years 6 months ago #491091 by hadenoughnow
Replied by hadenoughnow on topic Re:Is ex entitled to half the equity?
I am assuming you were [url=Resources/Library/Cohabitation-and-Separation_s33_m1852.html ]not married[/url].

Whose name is on the deeds? If both, is there a deed of trust setting out who owns what proportion?

The split of equity will be determined according to property law.

If you have stayed in the property, the fact that you have paid the mortgage will be counted as you, in effect, paying rent for his share of the house.

Hadenoughnow
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3 years 6 months ago #491092 by KnockMeDown
Replied by KnockMeDown on topic Re:Is ex entitled to half the equity?
Ok I'll give you the full background information.

Together 15 years married just under 10 years. separated 18 months. Two children aged 9 and 5. We have decree nisi. Only thing we have to split is the equity in the house. Which is £76900. No savings. I have a small pension, current transfer value 8k.

He wants a 50/50 split which I just don't think is fair.I put my career on hold and worked part time since the birth of my eldest. Therefore I earn less than him. I also have the children other than every other weekend (he has them 2 nights in 14).

He earns £35,00 gross
I earn £13,520 gross plus WTC £9732 and CB £1788 = £25,040

I have paid the mortgage on my own since he left amounting to £9,280. He pays maintenance when he can be bothered (not had anything for 3 months) we had agreed an amount of £86.00 a week which he now thinks is to high.

I'd like to settle as soon as possible as we have put the house on the market and accepted an offer. He wants 30k, I offered 20k

Would the fact I've been paying it on my own be taken into consideration? do you think 30k is fair? I also have MS although it doesn't have any impact on my life at the moment, I do worry about my ability to work in the future, would this be considered? or go against me?
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3 years 6 months ago #491094 by hadenoughnow
Replied by hadenoughnow on topic Re:Is ex entitled to half the equity?
You posted in the cohabitation and [url=Resources/Library/Cohabitation-and-Separation_s33_m1852.html ]separation[/url] section which accounts for the confusion.

I have responded to your other thread that has a similar theme.

Whether or not a 50:50 split is appropriate will depend on how your housing needs are to be met. It really isn't sensible to sell and split the proceeds until you have a legally binding financial settlement. If you haven't got that, the proceeds of sale may be held in a solicitors account until there is a consent or court order in place.

Hadenoughnow
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3 years 6 months ago #491096 by KnockMeDown
Replied by KnockMeDown on topic Re:Is ex entitled to half the equity?
Sorry my mistake, I can't seem to navigate properly through this website, possibly because I'm using my phone.
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  • WYSPECIAL
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3 years 6 months ago #491098 by WYSPECIAL
Replied by WYSPECIAL on topic Re:Is ex entitled to half the equity?
The disparities in income and the fact that you are to have the majority care of the children would suggest a departure from 50/50.

Priority will be housing children so work out what you need for that based upon prices and your mortgage raising capacity.

It is unlikely that you will be able to argue that you should have more because you have paid the mortgage since he left. It is usual for whoever stays to pay the entire mortgage but not to pay the other party rent for their share whilst having sole use of the property.

Also the majority of what you paid was probably interest rather than capital so won't have increased the equity by the full amount you have paid.
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3 years 6 months ago #491099 by KnockMeDown
Replied by KnockMeDown on topic Re:Is ex entitled to half the equity?
The max mortgage I can get is 125k if I pay off my car finance otherwise it's 100k. I'm currently in a 4 bed detached, I obviously only need a 3 bed. They vary from 150k up how do they decide what property is suitable as they vary so much
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