Splitting up, what to do about the house?

#1
Morning, the girlfriend of 9 years decided to call end ex on me last week. Besides from all the other problems and hassle, what's the best way to go about protecting my share of the house?
I don't want anything from inside, I don't want her to sell it or give me cash. I'd be more than happy just to have my name taken off the deeds but I know she fears the mortgage company would just cancel the mortgage. My big worry is she defaults and it messes up my future finances or she rents it out and I'm screwed when some idiot tenant trashes it..can I stop her renting it out? Is there a way of extricating myself from the mortgage?

Any advice would be great
 
#3
There is a whole can of worms waiting to be opened up when it comes to sorting out the house after splitting.
If you want your name taken off, that is a good way to do it as you can just walk away. However you will probably find that your ex will have to buy you out.

Get professional legal advice today to get the ball rolling.

From a practical point of view, get what you can out of this and keep the heid. They are ex'es for a reason.
 
#4
Put yourself in her place i.e imagine if it had been you you binning her?

Do you think that she'd be happy keeping her name on the mortgage with all the dramas that it could cause her later on?


Think that you have to bite the bullet mucka...let her buy you out or sell and take your share...then start again (after a few months or years of banging everything in sight)

It's all part of moving on....like 1000's of people have to do.

Any kids involved?
 

Cold_Collation

LE
Book Reviewer
#5
Think that you have to bite the bullet mucka...let her buy you out or sell and take your share...then start again (after a few months or years of banging everything in sight)
That about covers it.

But if you're not looking to force a sale: when my ex-wife decided to keep the house, the legal people did a little haggling over a fair cash offer based on my contribution over the years. The form is to have the money in your hand first and only then sign over the deeds. (Signing over the house and then hoping and praying she might actually get round to giving you the money might be a forlorn hope... no disrespect to your ex but splits do change people's attitudes.) I walked away with the money I needed to find a (significantly smaller) place of my own, and - as far as I know - she remains where she was pouring bitterness on her cornflakes each morning.

It's not as onerous as you think but Krom has another good point: see someone legal. A 'little' spent now (a few hours at £200 an hour) can save a LOT later. You still get the first half-hour and a broad-brush idea of your situation free, anyway.
 

skid2

LE
Book Reviewer
#8
Morning, the girlfriend

of 9 years decided to call end ex on me last week. Besides from all the other problems and hassle, what's the best way to go about protecting my share of the house?
I don't want anything from inside, I don't want her to sell it or give me cash. I'd be more than happy just to have my name taken off the deeds but I know she fears the mortgage company would just cancel the mortgage. My big worry is she defaults and it messes up my future finances or she rents it out and I'm screwed when some idiot tenant trashes it..can I stop her renting it out? Is there a way of extricating myself from the mortgage?

Any advice would be great
solicitor. citizens advice bureau and soonest.
 
S

syledis

Guest
#9
Whilst it might seem the right thing to do at present , a few months down the line you will see things differently. its only fair that you get out of it what you put in.
 
#10
You are not married, so matrimonial law does not apply. Your interest in the house is therefore subject to property law and trust law.

When you purchased the house in joint names you will more than likely have created a trust (even though you may have had no clue that you were so doing). Without further knowledge as to your situation - your intentions, any discussions between you etc, it is difficult to say any more than that. Commonly a property bought in joint names will be viewed by the court as being held for the equal benefit of both parties - so both parties entitled to an equal share of the equity. This can be complicated by unequal financial contributions to the purchase price. If one of you paid more, they may be entitled to expect more back.

If there are children then things become difficult because it will be argued that the trust created was a trust with the intention of providing a home for yourselves and your children. As long as they remain minors it can be argued that the purpose of the trust has not come to an end, and that therefore you are not entitled to realise your share of the assets of the trust (i.e. your interest in the house).

As for the mortgage, that is a contract between yourselves and the mortgage provider. The court cannot interfere with it. On ly the mortgage provider can agree to alter it. If the ex can obtain a mortgage in her sole name then all well and good. But if she cannot then the mortgage company is unlikely to take you off the mortgage. Why would they when that would limit their options for recovery action if things go wrong?

If you work out the value of the property, less mortgage, and less the notional costs of sale (because if you are to realise the value of the asset the costs of doing so will diminish that asset's net value) that will give you the net value of the property. You might (depending on circs as alluded to above) be entitled to a share of that net value - possibly half of it.

You do need to disentangle yourself from the situation. Leaving it for any length of time can cause all sorts of horrors in the future.

See a lawyer. It is worth it.
 
#15
LAWYER Now? WTF! why?

not married, no mention of kids ffs its not difficult so why waste good money.

First thing you need to do is find out whether the property is held as Joint Tenants or Tenants in common! You've already had a good explanation of joint tenancy previous. Tenants in common is where parties hold a fixed percentage of the property. it can be fifty fifty, or any number between 99 + 1 % as long as it all adds up to 100% you can have more than two people owning the property also (not relevant in your case). Once you have found this out, you can then move forward, btw if its joint tenancy go find the conveyancer who did it and kick them in the ****! joint tenancy for an unmarried couple is bollocks advice.

Next step go to ex sit down have sensible conversation. Ask can you afford a mortgage for the full amount of the existing mortgage in your sole name? She answers yes! good, toddle off and re-mortgage and you can keep the house. Se answers No. fine either raise the money from family to buy me out or put the property on the market.

If she refuses to do either of previous options then your fucked, and paying money to a solicitor won't change a ******* thing. For the following reasons. A. shes on the mortgage, B. she's on the deeds. You can't chuck her out and if its joint tenancy you can't force her to sell.

You can ask the mortgage lender if they will take your name of the mortgage, but they don't have to. If she can afford to take over the mortgage in her own right then they will probably be inclined to do so, if she can't they won't. They don't give a flying **** that your relationship is toast they want to protect their interests simple.

If its a tenants in common arrangement and you had a decent solicitor you may be lucky and find that your agreement says if either party wants to sell then they have to offer their share to the other party first and if the offer not taken up they can then place it on the market. If you sell your share it will force the situation, it will force the lender to do something and it will force your ex to do something.

The worse case scenario is where she lives in it and doesn't pay the mortgage and the mortgage company come after you for the money because she says she can't afford to pay them.If you have a decent wage they will come after you for the arrears and if they repossess then they will also come after you for any shortfall.
 
#17
Oh, you dear, sweet, innocent creature.

Piss off you patronising old fart, your a lawyer aren't you! I can smell you from here.

She's on the mortgage and the deeds there is **** all a lawyer can do to her. The only thing they will do is write letters and run up costs.

You show me under contract law, where a party to a contract can be forced out of that contract if they are not in breech of said contract?

ps. I'm sitting here with " Contract law, Directions" Taylor and Taylor, waiting to be edumicated.


pps. Oh no actually there is a way for a lawyer to get her out, they write to her numerous times and bore her to death, she's dead the contracts void, the mortgage needs to be re-payed and hey presto the OP has resolution!
 
#18
LAWYER Now? WTF! why?

not married, no mention of kids ffs its not difficult so why waste good money.

First thing you need to do is find out whether the property is held as Joint Tenants or Tenants in common! You've already had a good explanation of joint tenancy previous. Tenants in common is where parties hold a fixed percentage of the property. it can be fifty fifty, or any number between 99 + 1 % as long as it all adds up to 100% you can have more than two people owning the property also (not relevant in your case). Once you have found this out, you can then move forward, btw if its joint tenancy go find the conveyancer who did it and kick them in the ****! joint tenancy for an unmarried couple is bollocks advice.

Next step go to ex sit down have sensible conversation. Ask can you afford a mortgage for the full amount of the existing mortgage in your sole name? She answers yes! good, toddle off and re-mortgage and you can keep the house. Se answers No. fine either raise the money from family to buy me out or put the property on the market.

If she refuses to do either of previous options then your fucked, and paying money to a solicitor won't change a ******* thing. For the following reasons. A. shes on the mortgage, B. she's on the deeds. You can't chuck her out and if its joint tenancy you can't force her to sell.

You can ask the mortgage lender if they will take your name of the mortgage, but they don't have to. If she can afford to take over the mortgage in her own right then they will probably be inclined to do so, if she can't they won't. They don't give a flying **** that your relationship is toast they want to protect their interests simple.

If its a tenants in common arrangement and you had a decent solicitor you may be lucky and find that your agreement says if either party wants to sell then they have to offer their share to the other party first and if the offer not taken up they can then place it on the market. If you sell your share it will force the situation, it will force the lender to do something and it will force your ex to do something.

The worse case scenario is where she lives in it and doesn't pay the mortgage and the mortgage company come after you for the money because she says she can't afford to pay them.If you have a decent wage they will come after you for the arrears and if they repossess then they will also come after you for any shortfall.
Isn't the OP the one planning to move out and seeking advice on the best way to:

a) Remove himself from the deeds and realise the value of his stake in the property; and
b) Get himself off the mortgage, so that they don't try to come after him if his ex-partner enters default?

I would definitely speak to a lawyer to get an opinion on all the available options and then the OP can make a decision from there. There's no need to engage in letter writing - especially if things are still amicable between the two parties - once the OP knows his options he can sort it out with her. If it were me I'd bite the bullet and pay Messers Stoat, Bucket and Pennybags for some professional advice on how to proceed. Property law is complex and very easy to **** up.
 
#20
Isn't the OP the one planning to move out and seeking advice on the best way to:

a) Remove himself from the deeds and realise the value of his stake in the property; and
b) Get himself off the mortgage, so that they don't try to come after him if his ex-partner enters default?

I would definitely speak to a lawyer to get an opinion on all the available options and then the OP can make a decision from there. There's no need to engage in letter writing - especially if things are still amicable between the two parties - once the OP knows his options he can sort it out with her. If it were me I'd bite the bullet and pay Messers Stoat, Bucket and Pennybags for some professional advice on how to proceed. Property law is complex and very easy to **** up.

Nope the OP just wants his name off of the mortgage, he doesn't want any money. There's only one way to do it if the property is in joint tenancy and that is with the agreement of his ex and the mortgage lender. Got to have both it can't happen with just one.
 

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