Selling house after split.
Discussion
Cutting to the chase in what must be a well trodden path.
House is being sold after we split. I put in 80% of the deposit and paid the stamp duty. Everything else has been roughly equal or atleast 60:40 my way.
It's looking like I'll be waving goodbye to anything other than a 50:50 split.
Can anyone confirm if this is the case?
House is being sold after we split. I put in 80% of the deposit and paid the stamp duty. Everything else has been roughly equal or atleast 60:40 my way.
It's looking like I'll be waving goodbye to anything other than a 50:50 split.
Can anyone confirm if this is the case?
I was in the same boat about 10 years ago. Been together almost 15 years, no kids and a fairly amicable split with no solicitors involved.
I proposed a 60/40 split for me/my ex. She accepted and said she didn't think she would get that much! Wish I had suggested 70/30 but it's all water under the bridge now.
If you are both reasonable and can agree a fair split that is the best way, but if you have kids or solicitors involved I would think 50/50 is the best you can hope for. All IMHO IANAL etc
I
I proposed a 60/40 split for me/my ex. She accepted and said she didn't think she would get that much! Wish I had suggested 70/30 but it's all water under the bridge now.
If you are both reasonable and can agree a fair split that is the best way, but if you have kids or solicitors involved I would think 50/50 is the best you can hope for. All IMHO IANAL etc
I
Just going through the same myself, put £110k down against her £30k but didn't get a pre nuptual done.
10 years later.
No kids involved so very easy.
Now we are parting been to see a solicitor and could spend a lot of money and still end up with 50/50.
She can also claim 50% of any other assets as well so it may get expensive. Cars / Cash in bank,anything and everything.
If she's got any credit card / loans etc they have to be paid off and the balance of the assets split 50 / 50
If you try moving stuff around now it's too late, you need to have moved it six months ago as they will ask for statements etc.
I wish you luck
10 years later.
No kids involved so very easy.
Now we are parting been to see a solicitor and could spend a lot of money and still end up with 50/50.
She can also claim 50% of any other assets as well so it may get expensive. Cars / Cash in bank,anything and everything.
If she's got any credit card / loans etc they have to be paid off and the balance of the assets split 50 / 50
If you try moving stuff around now it's too late, you need to have moved it six months ago as they will ask for statements etc.
I wish you luck
Back in the 1980s I was married for a few years before divorcing. I put in 100% of the deposit and paid at least 60% of the daily living costs (including mortgage). I walked away with 50%, not worth fighting for more as the funds to split would have been drastically reduced with legal fees and time dragging on.
When I divorced I'd put in a third deposit from the sale of my previous home, Ex put in nothing.
Come divorce that third was put aside and the remaining two thirds were divided up by a Judge after the mortgage was deducted. Ex walked away with roughly 10% of the value of the house, I got a further 20% and the remaining percentage was what was mortgaged.
Come divorce that third was put aside and the remaining two thirds were divided up by a Judge after the mortgage was deducted. Ex walked away with roughly 10% of the value of the house, I got a further 20% and the remaining percentage was what was mortgaged.
When I split with my ex we divided up as follows, with me keeping the house:
She put in 80% of the deposit, I did 20%. She got all that back.
My salary was 2x hers, so I paid 66% of the bills and she 33%, so we worked out the percentage increase in value since we bought it and I gave her 33% of that.
She then worked out the value of everything we'd bought together, down to individual knives and forks, and I gave her 33% of that value.
I transferred the mortgage to my name, added a second one to pay her off, she walked away and I stayed put. Seemed the fairest way, no solicitors involved at all.
She put in 80% of the deposit, I did 20%. She got all that back.
My salary was 2x hers, so I paid 66% of the bills and she 33%, so we worked out the percentage increase in value since we bought it and I gave her 33% of that.
She then worked out the value of everything we'd bought together, down to individual knives and forks, and I gave her 33% of that value.
I transferred the mortgage to my name, added a second one to pay her off, she walked away and I stayed put. Seemed the fairest way, no solicitors involved at all.
If it is a short marriage then it is entirely reasonable to but put back in a position you were before marrying - if possible (i.e. enough equity). Short marriage terms varies, I've seen 5, 7 and even up to 10 years mentioned. Unless kids are involved of course.
Hopefully you can keep it amicable - what is her expectation and earning potential? It may be you ringfence deposits and split the rest 50/50.
Hopefully you can keep it amicable - what is her expectation and earning potential? It may be you ringfence deposits and split the rest 50/50.
ChocolateFrog said:
Neither thankfully
Excellent news! The answer depends partly on how it was bought - did you sign an agreement as tenants in common with unequal shares, or joint tenants, where you have shared ownership of the property?If it's the latter it's 50/50 unless you can agree otherwise, I believe, as joint tenants have an equal interest in the property, regardless of contribution. Personally, I would suggest splitting the deposit and direct costs of purchase (e.g did you put in 60% of the deposit but none of the purchase costs? These should be divided first). Then take off the outstanding mortgage balance, and split the remainder 50/50, less direct costs of disposal.
I reckon most sensible people would go for that as it appears fair.
In the case of a split if you haven't agreed the wording on the deeds and you are joint tennants in common then you have crapped out.
I tried taking that line with the ex and getting her to have a lesser share and she said No she wanted 50/50.
I went to see two solicitors at great cost and ended up being told that i could argue all i wanted, but if it went to court i'd lose due to the fact that wife earned less than i do and that we had been married. If you have children then you will be stuffed even more !!
Also consider that all the wife paid for in the monthly bills was the food, telephone and TV licence.
I paid for everything else and could prove it, it made no difference what so ever.
What makes it even harder was that i've been overpaying on the mortgage to reduce it and that means she gets even more money !!
All you can do is try and negotiate, but what you will find is that as a woman scorned she will want every last penny you have and there's nothing you can do about it.
It's a bitter pill to swallow as i was going to be mortgage free at xmas and i will now end up with a £100k mortgage and not many years left to pay it off. I'm in a worse situation than i was 10 years ago when we bought the house.
I will be extra careful next time and make sure that there is a pre nuptual dawn up.
Basically your stuffed.
I tried taking that line with the ex and getting her to have a lesser share and she said No she wanted 50/50.
I went to see two solicitors at great cost and ended up being told that i could argue all i wanted, but if it went to court i'd lose due to the fact that wife earned less than i do and that we had been married. If you have children then you will be stuffed even more !!
Also consider that all the wife paid for in the monthly bills was the food, telephone and TV licence.
I paid for everything else and could prove it, it made no difference what so ever.
What makes it even harder was that i've been overpaying on the mortgage to reduce it and that means she gets even more money !!
All you can do is try and negotiate, but what you will find is that as a woman scorned she will want every last penny you have and there's nothing you can do about it.
It's a bitter pill to swallow as i was going to be mortgage free at xmas and i will now end up with a £100k mortgage and not many years left to pay it off. I'm in a worse situation than i was 10 years ago when we bought the house.
I will be extra careful next time and make sure that there is a pre nuptual dawn up.
Basically your stuffed.
clarkey said:
ChocolateFrog said:
Neither thankfully
Excellent news! The answer depends partly on how it was bought - did you sign an agreement as tenants in common with unequal shares, or joint tenants, where you have shared ownership of the property?If it's the latter it's 50/50 unless you can agree otherwise, I believe, as joint tenants have an equal interest in the property, regardless of contribution. Personally, I would suggest splitting the deposit and direct costs of purchase (e.g did you put in 60% of the deposit but none of the purchase costs? These should be divided first). Then take off the outstanding mortgage balance, and split the remainder 50/50, less direct costs of disposal.
I reckon most sensible people would go for that as it appears fair.
I put in 80% of the deposit and paid the fees, there is no remainder.
Someone should have retitled this thread 'Reason not to get married"
I guy I used to work used to tell his life story. He bought everything in his marriage, the house, the cars, the contents, everything other half was a 'housewife' even though they had no children. She was very much a kept woman ( how very 1970's)
Someone accused him of having an affair, allegations which then proved to be false. However by that point the wife had made up her mind and had moved on, she also wanted a quickie divorce.
Anyway two years on and after the divorce he walked away from the house he had paid for with absolutely nothing and was living in a 1 bed flat last time I heard.
The ex wife is now living in the house with her new partner and is expecting.
I guy I used to work used to tell his life story. He bought everything in his marriage, the house, the cars, the contents, everything other half was a 'housewife' even though they had no children. She was very much a kept woman ( how very 1970's)
Someone accused him of having an affair, allegations which then proved to be false. However by that point the wife had made up her mind and had moved on, she also wanted a quickie divorce.
Anyway two years on and after the divorce he walked away from the house he had paid for with absolutely nothing and was living in a 1 bed flat last time I heard.
The ex wife is now living in the house with her new partner and is expecting.
Edited by BlueHave on Thursday 22 September 15:04
Edited by BlueHave on Thursday 22 September 15:05
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