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Hi just about at my wits end !
My Partner and I are splitting up we are not married and have been living together 15 years we have two children
We drifted apart but I found out over a year ago she was cheating on me and despite attempts at reconcilliation she has not given the other guy up .
She is now demanding more than half the equity in the house we are currently living in
The House has to be sold we agree on that the total equity is approx 200K
She wants 130K because she works par time and would not be able to buy a 2 bed property in our area with 100K and and a mortgage.
She also says she is entitled to more because when we bought our first house she put down the 15K deposit.
I don't feel this right for two reasons
1 the 15K equity was from a previous property so does not count as her share anymore
2 I will pay 20% net salary to her which will leave her only slightly worse off than myself
She is threatening court action which she can't afford ( and neither can I ) and so I want know if she has any credible claim.
Thanks for looking and any advice greatly appreciated
Hi there and welcome 🙂
I know it seems unfair but I think as she will be the resident parent, in the eyes of the law, she will be entitled to more than 50% equity. The other thing to bear in mind is the cost if this were to be decided in court....costs that would probably amount to more than the 30K extra she is asking for. You, her and more importantly, the children would miss out and the solicitors would gain! Sometimes it might be best all round to bite the bullet.
Try and talk to her and point out the financial consequences of asking solicitors to sort it out, and the fact that you would both walk away with a lot less than if you can come to an agreeement outside of court. Maybe agreeing to the 15K she feels she put in as a starting point.
For free and impartial advice you could go and see the Citizens Advice Bureau.
Best of luck 🙂
I agree with NJ. If the position was reversed and you'd put in the 15k deposit, would you be happy to simply disregard it - also bear in mind what the value of the property was when you first bought it, and what it is worth now, it would be reasonable that her deposit has gone up at the same rate. Also, as NJ points out, anything you gain can easily be lost in legal fees and that benefits no one (except the solicitors) so it's worth coming to a compromise. The 20% maintenance you will be paying isn't a 'bonus' for your ex, she does have to pay for food, clothing etc for your children, and she will need to have a larger property to accomodate them than of she didn't have the children.
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