ex Partner severed joint tenancy - advice please
Discussion
Hi,
Dispute been going on a a while with my ex who deems her share in our property to be worth significantly more than RICS valuation and my subsequent offer to buy her out based on a value exceeding that provided in the RICS survey.
Received notice to sever joint tenancy this morning. This now means we are tenants in common with 50% each I beleive. I have a letter from her stating that I invested £x more in the property than she did, signed and dated by her self. I also have bank account statements to prove this. She was willing to accept that I invested £x more in her settlement originally but being the greedy b1tch that she is and having taken advice from her family she is probably trying to take 50%.
Where do I stand? If this went to court could I prove this fact through the documents that I have? No deed of trust exists and yes I have learnt my lesson so please don't slate me I was young when I bought the property, with hindsight I won't make these mistakes again.
Bit more background info. She wants £39,400 for her share which values the property at £226,800. A RICS valuation exists at £215k. We had house on market and had two offers, £224k and £219k. My offer to give her £35k values the house at £218k which I think is fair. It's above the RICS but slightly below the average of both offers, neither of which were ready to complete, they were just offers which could have been reduced or retracted at any point. She is adamant that she wants £39,400 which values the house far higher than RICS or the offers we have received.
HELP! Thanks in advance
Dispute been going on a a while with my ex who deems her share in our property to be worth significantly more than RICS valuation and my subsequent offer to buy her out based on a value exceeding that provided in the RICS survey.
Received notice to sever joint tenancy this morning. This now means we are tenants in common with 50% each I beleive. I have a letter from her stating that I invested £x more in the property than she did, signed and dated by her self. I also have bank account statements to prove this. She was willing to accept that I invested £x more in her settlement originally but being the greedy b1tch that she is and having taken advice from her family she is probably trying to take 50%.
Where do I stand? If this went to court could I prove this fact through the documents that I have? No deed of trust exists and yes I have learnt my lesson so please don't slate me I was young when I bought the property, with hindsight I won't make these mistakes again.
Bit more background info. She wants £39,400 for her share which values the property at £226,800. A RICS valuation exists at £215k. We had house on market and had two offers, £224k and £219k. My offer to give her £35k values the house at £218k which I think is fair. It's above the RICS but slightly below the average of both offers, neither of which were ready to complete, they were just offers which could have been reduced or retracted at any point. She is adamant that she wants £39,400 which values the house far higher than RICS or the offers we have received.
HELP! Thanks in advance
Edited by jonamv8 on Friday 4th October 14:09
Edited by jonamv8 on Friday 4th October 14:11
Could probably get her bumped off for 3K or less.
What?
I'm just sayin'!
In all seriousness, having been in this position a number of years ago, you have two choices:
1). Pay the 4K and end it.
2). Slug it out with solicitors until she HAS to accept your offer as she's run out of money.
I chose (2) at the time, and don't regret it.
It cost me in the regions of 80K if I add up all of the various costs accrued during the process... If that sound like a fair price for being "right" then go for it! If not, then maybe option 1).
Neither is wrong!
What?
I'm just sayin'!
In all seriousness, having been in this position a number of years ago, you have two choices:
1). Pay the 4K and end it.
2). Slug it out with solicitors until she HAS to accept your offer as she's run out of money.
I chose (2) at the time, and don't regret it.
It cost me in the regions of 80K if I add up all of the various costs accrued during the process... If that sound like a fair price for being "right" then go for it! If not, then maybe option 1).
Neither is wrong!
jonamv8 said:
Thanks for comments and see where you are coming from.
She would also have court costs though, it wouldn't just be me so I'm hoping to meet in the middle as a matter of principle.
You could in theory have to pay her costs and yours depending on what the judge finds.She would also have court costs though, it wouldn't just be me so I'm hoping to meet in the middle as a matter of principle.
If it was me I'd pay a bit extra and end it clean and once and for all.
RSoovy4 said:
jonamv8 said:
Thanks for comments and see where you are coming from.
She would also have court costs though, it wouldn't just be me so I'm hoping to meet in the middle as a matter of principle.
You could in theory have to pay her costs and yours depending on what the judge finds.She would also have court costs though, it wouldn't just be me so I'm hoping to meet in the middle as a matter of principle.
If it was me I'd pay a bit extra and end it clean and once and for all.
jonamv8 said:
RSoovy4 said:
jonamv8 said:
Thanks for comments and see where you are coming from.
She would also have court costs though, it wouldn't just be me so I'm hoping to meet in the middle as a matter of principle.
You could in theory have to pay her costs and yours depending on what the judge finds.She would also have court costs though, it wouldn't just be me so I'm hoping to meet in the middle as a matter of principle.
If it was me I'd pay a bit extra and end it clean and once and for all.
To me at least, getting the matter closed and being able to get on with life is worth a few quid.
jonamv8 said:
Moving on with life is why I am already offering her more than it's worth. Another £4k is just taking the mickey. For all I know when I say ok go on then rob me, she'll make it £6k, when will it end. I feel blackmailed almost...
People who make it personal lose out.Stop losing.
Offer her the 4K (have you anything in writing where she is asking for this?) and then you will have the basis for court action that you actually have a chance of winning if she starts playing silly buggers.
As tenants in common you can force her to sell her half. (Or is this joint tenants? One of the two!) If your offer is fair and over the recognised price that is exactly what the court will do if she buggers about. After taking into account who paid what (mortgage etc).
Her solicitor SHOULD tell her before court action is scheduled to stop buggering about as they should have her best interests in mind and she won't better the offer. And some do.
Or have her killed. I think technically at least you'll be in the wrong at that point though...
jonamv8 said:
Moving on with life is why I am already offering her more than it's worth. Another £4k is just taking the mickey. For all I know when I say ok go on then rob me, she'll make it £6k, when will it end. I feel blackmailed almost...
You asked for advice. You got it. It's up to you what you do with it.FWIW, I agree with the Soov. Take it or leave it :shrug:
£4k to get her out of your life full and final settlement and quickly too.
Or months on end with worry grief court preparation - and a possibility in that time the house is actually with more... Remember were in an appreciating asset currently it will take barely a year and your house will be worth that much more maybe a fair chunk more.
If it goes to court £4k isn't a lot of money solicitors are on what £45 to read a letter £300-600 per hour you have with them then a QC is what £800-5000/hour.
The other thing is taking it to court she will hate you even more whereas settling for what she is asking for she has to feel happy about it and you'll be happy about closure.
Sounds like you don't have kids - if you did then your £4 k could end up you only having the shirt on your back and giving up 35% plus of your monthly GROSS salary for the next 28 years and if she refuses final settlement you'd have to pay her spousal maintenance (until she meets someone else) and then have to pay her a salary from your pension earned to date - I even know one friend where by his deranged wife attempted in court to get him to pay her x% of all to be earned pensions he was 30 at the time. She wanted to screw him forever she has emotionally 10 years since he hasn't been looking or even contemplated meeting a lady not will he ever I fear.
Or months on end with worry grief court preparation - and a possibility in that time the house is actually with more... Remember were in an appreciating asset currently it will take barely a year and your house will be worth that much more maybe a fair chunk more.
If it goes to court £4k isn't a lot of money solicitors are on what £45 to read a letter £300-600 per hour you have with them then a QC is what £800-5000/hour.
The other thing is taking it to court she will hate you even more whereas settling for what she is asking for she has to feel happy about it and you'll be happy about closure.
Sounds like you don't have kids - if you did then your £4 k could end up you only having the shirt on your back and giving up 35% plus of your monthly GROSS salary for the next 28 years and if she refuses final settlement you'd have to pay her spousal maintenance (until she meets someone else) and then have to pay her a salary from your pension earned to date - I even know one friend where by his deranged wife attempted in court to get him to pay her x% of all to be earned pensions he was 30 at the time. She wanted to screw him forever she has emotionally 10 years since he hasn't been looking or even contemplated meeting a lady not will he ever I fear.
mfmman said:
In general house prices are rising, by time a lengthy legal battle is resolved if the end agreement is percentage based then even if you 'win' the sum to change hands may be higher than you are reluctant to pay now (even putting aside the legal costs)
This all over. The appreciating asset will be all yours, no stress, no legal fees and as you had an offer at close to the amount it's not too far off.Maybe try meeting at an extra £2-£3k first?
mfmman said:
In general house prices are rising, by time a lengthy legal battle is resolved if the end agreement is percentage based then even if you 'win' the sum to change hands may be higher than you are reluctant to pay now (even putting aside the legal costs)
This all over. The appreciating asset will be all yours, no stress, no legal fees and as you had an offer at close to the amount it's not too far off.Maybe try meeting at an extra £2-£3k first?
Gassing Station | Finance | Top of Page | What's New | My Stuff