I jointly own my house with my ex, the mortgage is in joint names. The house being sold or her buying me out is a long way off as I have a daughter and she has 3 other kids that's live there. I don't live in the property but have an interest as have some money invested in it.
Is there anything to be gained for me putting a charge on the house, or is the fact I jointly own it enough to safeguard my interest int the house?
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Charge on my house
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Posted 6 months ago #
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Make sure you get bank statements of up to date payments are kept on the mortgage.
I have known Two of my friends where they have been paying there part of the mortgage
and the partner has not and ended up with nothing.Regarding a charge unsure. But consult a Solicitor for correct advice.
Posted 6 months ago # -
I don't think it is, get some advice.
Posted 6 months ago # -
If you own as joint tenants you could have a look at severing your share and becoming tenants in common, this means instead of you both owning 100% of the house you own 50% each (still entitled to 100% occupation).
Are you actually divorced or just separated?Posted 6 months ago # -
Charges are normally put on to protect a third parties interest rather than the owners.
Posted 6 months ago # -
ernie and Edukator to the thread please.
Posted 6 months ago # -
Extremely simplistically, all a charge would do is if and when the house is sold, money always firstly goes to the mortgage and then to the held charges against it then after costs etc any equity will be split with people named on the mortgage, discounting any other agreements/consent orders etc the more complicated it becomes the more you will lose, as the solicitors will charge more to settle the matter for you.
You'll probably benefit from seeing a decent solicitor as its a little complicatedPosted 6 months ago # -
Get proper advice. My sister is in a similar situation although declared herself bankrupt and it's turning around to bite her in the arse. Don't presume anything get proper legal advice from specialists
Posted 6 months ago # -
We were never married, and we are tenants in common
Posted 6 months ago # -
ernie and Edukator to the thread please.
No thanks
Posted 6 months ago # -
SBrock - Member
We were never married, and we are tenants in commonthen the stated division of ownership will be incontestable.
Posted 6 months ago # -
Right as your tenants in common the division will have been sorted at the time of purchase as in 50/50 etc or what ever you drew up in the purchase contract, as for charges, well technically you cant have a charge on a jointly owned property if the debt is only in one persons name...you can have a land registry restriction placed so that when the property is to be sold your made aware but thats about it, as i had my ex run up loads of debts and had a so called 'restriction order' placed on the property which isnt really worth the paper its written on as it falls of when exchanged with a third party...I believe somebody was in the news recently in a similar case as yours and after years of being separated they still jointly owned the property and he then wanted his 50% share but the court awarded him %10 i believe as he hadnt contributed for years etc to the house repayments etc so seek proper legal advice
Posted 6 months ago # -
I believe somebody was in the news recently in a similar case as yours and after years of being separated they still jointly owned the property and he then wanted his 50% share but the court awarded him %10 i believe as he hadnt contributed for years etc to the house repayments etc so seek proper legal advice
the law in that area is developing all the time. a fair bit of recent development courtesy of Baroness Hale and the supreme court. the OP's position is fairly clear cut at the moment, though. depends on the Tenants in Common details that have already been set out.
Posted 6 months ago # -
a bit of light reading:
http://www.guardian.co.uk/law/2011/nov/10/what-rights-do-cohabitants-have?newsfeed=true
though not applicable to the OP's position.
Posted 6 months ago # -
When you buy a house you can sign an agreement with your co-purchaser detailing who put in what, and they are pretty watertight. One of mates has done this and is now going through a break up. The agreement has been a lifesaver for him. I'm not sure if these can be done retrospectivly but I think you need to see a decent solic.
Posted 6 months ago # -
its called a deed of trust
Posted 6 months ago # -
SBrock - yes that sounds like the one - he put 75% of the purchase price up and it as recorded in the deed of trust, when his Mrs decided to go she claimed she was owed at least half the house. The deed of trust means that she is only getting half of value left after he gets his 75%. Apparently both sides solicitors have said its cast iron.
Posted 6 months ago #
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