sole onwership of flat

[zippybungle]

I bought a flat 6 months ago and put down a 20 k deposit, my partner put in 1k, we r both on the morgage papers as i coulnt get the morgage without both incomes. We have spilt up now and she says she will get half the flat. We arnt married. I can prove i put the lions share in, can anyone help me to tell me where i stand. Thanks

[zippybungle]

p.s im going to buy her out but not for bloody half!

[jean88]

She is entitled to half if her name is on the deeds, but at the end of the day, your 20k should really count, as you only had this house for 6 months. Who pays the mortgage? That would be taken into account too, if you ended up dealing through a solicitor, all contributions would be considered.

[zippybungle]

Thanks jean, we both pay the mortgage, but it comes from her account and i put half the months expenditure including mortgage in to her account at start of month. sounds bad doesnt it!  Im scared im gonna get screwed!

[Sammy Snake]

Your lender may not agree to you taking over the mortgage  and removing the other name.  If you needed both incomes to get the mortgage only 6 months ago, then unless you have had a pay rise or something, they probably won't allow you to take it over on your own.

[zippybungle]

im fine with taking it on my own family are going to be garantures

[Didwot]

When you purchased the property you executed a land registry form TR1. Part of that form gives three option as to how you own the land
Joint Tenants (entitled to equal shares)
Tenants in common entitled to equal shares
Tenants in common entitled to unequal shares.
The answer to your question depends on which option was selected. If it anything other than the last, then you are in difficulties.
You should have been fully advised about this by your lawyers at the time of purchase, and if they did not advise you then they were negligent.

[Mrs_Pegasus]

All is not lost!

Firstly, contact a solicitor.  I would go back to the solicitor who dealt with the house in the first place, it will save a bit of money because they will have the papers to hand.

In theory she is entitled to half the house but if she insists on going for the full 50% then wait for her to force a sale, believe me this will be very expensive for her and a good solicitor would tell her to stop being a greedy madam and to take a fair settlement.

Offer her a fair price for her element of the house - be reasonable with this.  Put it in writing to her and see what she says.

If it ever went to court, I cant see for one moment the court enforcing you handing over 1/2 the property.  I know from experience that it never is as clean cut as that.

For the time being gather all the evidence!  Did you speak with a financial advisor?  They may well write a letter on your behalf saying how they saw the purchase i.e. you putting 20k down and her 1k etc.

In all, get a solicitor - may cost anything up to �500 to fight to her but it will be worth it.

[zippybungle]

thanks for the response. i know ive been an idiot and my god il learn by my mistakes! il keep you posted.

[Cheekyteddy]

I am really sorry for you that this has happened to you. Life can be so unfair. I am sure that you will find that if you force her to force the sale that she will back out due to expense. it would be better for her to have a hassle free settlement earlier rather than possibly only the same amount later!!!!

[Andy Boz]

Surely she is only entitled to half the equity in the property, (if any). I have been inthis position with an ex, who demanded half the house. I asked her for �500. When she got confused, I explained it was in negative equity, and she would owe half the solicitors fees to get it signed over to me. She soon shut up.

Who paid what is irrelevant, but if you can come to a sensible agreement, or get hold of a solicitor who is on the ball, it may soften the finanial blow

[harriet99]

I really wish someone would fully explain to people BEFORE they embark on buying a property with someone else, exactly what the legal position will be in the event of one of the parties wanting out ! Solicitors are going to make a fortune over the next few years when the property markets slump, someone wants out and no exit stratgey was discussed at the outset. It's very unfair that so many people will have to learn the hard (and expensive) way that one should always hope for the best but prepare for the worst. Good luck, you wont make the same mistake twice.