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split of the marital home, but its not my split!!!

  • madaboutcars
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07 Nov 07 #6100 by madaboutcars
Topic started by madaboutcars
Could anybody "legally" minded be able to help me out here.

My x2b and my mother bought a house together November 2005. The reason that i did not go on the mortgage was because i was not earning enough).
The house was sold in March 2007, so they owned it for 16 months.
It was used as the marital home until i left.
My mum put down a £30k deposit. My wife put down nothing. Now the £52k equity has been sitting at the solicitors since March 07 as my mum and x2b cannot agree on the split.
Surely a fair split would be that mum gets her £30k back and then the remainder of equity gets split?? My x2b feels that it should be a straight split (£26k each!!)
(I know that i can make a claim on this property when the divorce goes through) I would just like to know if anyone is aware as to who is right with regards to the split of equity.
Surely if a couple bought a home, then sold it 16 months later, you would get back what you put in???

Any advice really appreciated.

  • DownButNotOut
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07 Nov 07 #6105 by DownButNotOut
Reply from DownButNotOut
You dont say how long you were married, im gonna assume you were married only a short time.

Its not so straightforward,

It depends in part if the 30k from your mum was a gift to the two of you, or if it was always clear she wanted the 30k back eventually (divorce or not).

If it was a gift then i think you X2B is close to the mark it should be a 50:50 split between you and X2B.

X2B gets 26K
You get 26K

If it was not a gift then I would think courts may take the view that the house was owned 1/2 by mum and 1/2 by X2B.

As you were married to X2B you have a claim on her assets.

So you could argue that of the 22K increase in equity 1/2 belongs to your mum, and 1/2 to be split between you and X2B.

In my book that means:
- mum gets 30K back plus 11K
- X2B gets 5.5K
- you get 5.5K

There is a BIG difference in the two outcomes so the key point you/your mum need to argue is that the 30K was an investment she made in a joint property and not a gift to the two of you.

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