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Hi...need some good advice...
Split with my partner (not married) in 2012. When I left we had a buyer for our jointly owned property and the sale was going through. Effectively she then just sat on her hands and did nothing. The buyers waited for something like 10 months while she kept saying she was still looking for another house until they lost interest. Since then she has pretty much ignored my efforts to discuss the matter.
At the beginning of last year we started Mediation which she has messed about and now its looking like my only option will be court. She has said she will sell tomorrow provided can get 65% of the equity! So this is about greed essentially.
The house is owned outright, no mortgage. I paid off the capital almost entirely myself (95% easily) but as we are Joint Tenants on the deeds I am advised that she has a right 50% of the proceeds and this cannot be contested. I have spoken to several solicitors who seem to hold this view. However, one solicitor has said there is a possibility I could fight for more based on the fact that I paid 95% +. They use a Barrister in Leeds who would look at this and give an opinion but this likelt to cost over £1000! I think it could be hugely expensive to try to get more than 50% so I would settle for that. The key points are as follows...
1. There is enough equity in the house for us both to buy a smaller property each or at least to put down a significant deposit.
2. I have the chidren 1/3rd of the time.
3. I rent a 2 bedroom flat while she continues to live in a house much bigger than she needs.
4. My daughter is 11 later this year and its is advised that she should have her own bedroom instead of sharing with my 8 year old son.
5. I bought the house and effectively gifted her 50%.
6. A sale had been agreed and I left on the basis that she would nove out. She intetionally sabotaged the sale and breached our agreement.
There are probably othe arguements which ould be made ....
Firstly can any one offer me any advice? Secondly, can anyone recommend a good solicitor.....I am in West Yorkshire. The solicitors I have spoken to have given conflicting advice. They seem quite excited about the prospect of a battle for such a large asset and of course what they can make from the case! Obviously I dont want to be milked!!! Since the separation my small business has gone bust and I am basically eaking a living...I would be funding the court case from savings rather than earnings!
If any one can give me some sound advice .... particularly if there are any solicitors on here I would appreciate it immensely! Also if any one can point me at other sites where I might get advice I'd be grateful.
Thanks in advance.
Hi There,
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You need to weigh up what is going to be better, giving up 65% of the equity or spending what could be 6-12 or more fighting over that extra 15%, I don't know what this amount actually is but you also have to consider what that is going to cost you in court and legal fees, let alone the extra stress it will put on you which will be in some way passed onto your children.
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I know what it's like to be in the middle of battles like this and you are so emotionally involved it's hard to look at things in a clear way.
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I also know that you have paid for 95% of the house she does have a right to 50% of the equity as even though you have paid for 95% of the mortgage she has been part of the household and has raised your children and of course is named on the deeds.
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Many fathers who leave the family home are looking at getting 40% or less of the equity of the house I ended up with around 20% from my house when I split with my ex and I spent 18 months trying to get more but only managed to spend more money than I really should have.
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Only you can make the decision on how to move forward but I would strongly consider accepting a lesser amount and getting things moving, maybe not as little as 35% but start talking about a compromise.
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GTTS
The starting point is 50/50 split financially. Then she would have to put forward arguments why she should have more.
What we don't know about your case is what are her arguments? Why does she think she needs more than 50/50?
She earns less? Has she given up a career for caring for children? What is her earning potential going forward? Does she want the extra share in lieu of spousal maintednance?
GTTS is right that you could end up spending in lawyers fees what you gain in equity in the house, but that doesn't stop you from trying to negotiate a better percentage than 65%, and perhaps include in that that the fees are all split in the same proportion.
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