if a persons name is on a mortgage and lives with someone and person with mortgage decides to sell does the?

Question

other person get half the sale price .we have lived together 3 years and decided to call it a day .

Answer 1

It's a grey area legally as if they have contributed then they could be entitled to something, but not half.

Answer 2

You may be entitled to the equity but this depends on whether you can prove you have contributed towards the mortage and or have been paying towards the running of the house. If you have utility bills in your name or you can prove you have been paying your partner money for the bills. Do you have a standing order set up to pay your partner every month?

The equity is only the amount that has been paid off on the mortage so if you partner still owes 100% of the amount borrowed or has taken a loan out against the mortage even if you can prove you have been contributing you wont get a penny.

It is a very lengthy and stressful process and most of the time it costs more in legal fees than you actually stand to gain from the sale. I would only advise pursuing a claim if you had concrete proof and you know it will be worth the heart ache.

Good luck!

Answer 3

unlikely.

leghally the straight answer is no hance, but if you have been contributing to the household, either financially or by looking after children allowing the other person to work, then you could be entitled to something. but at best it would be half of the increase in value of the equity (thats price less mortgage) durinf that period. so assuming the house price has gone up by about 10% in that time you might be able to sue, and yes you would have to sue for it, to 5% of the sale price. which probably wont even cover your legal fees.

when my partner and i split up, and she was on the mortgage, I got the house & the car, but also the mortgage, the loan and the credit card. total equity left - nil. she walked away - total equity left - nil , everyone was happy - try for something like that

Answer 4

Both parties named on the mortgage have to sign for the sale to go through. The soliciter/lawyer handling the sale should be made aware of the split. Any profit due is then split between both of you. If both names are not on the mortgage then you need to take legal advice as you are entitled to something by law but you need to make a legal claim

Answer 5

Depends, get a good solicitor
I had my own mortgage, my partner did not have his name on it or anything (including any house hold bills) as that can be seen that they contributed to the runnning of the house. And he got nothing!!!! my bank account was very healthy after i sold up !!!!!He was seen as a tennant.
We lived together for 2 and half years.

Answer 6

If you are both on the mortgage then I presume you will have to split the monies left over after mortgage paid!!
If only one of you is on the mortgage then unless you are married, the person not on mortgage is entitled to nothing (unless can prove have paid fair share!)

Answer 7

if you can prove that you have contributed an equal share to the running of the property since the mortgage was taken out then you will be entitled to a nominal sum, decided by your lawyers. if not the sorry, it was the mortgage holders house and they are entitled to the profits.

Answer 8

It depends.
I am assuming that your name is not on the mortgage? Do you have any of the household bills etc in your name? Do you have a joint bank account with your wage going into it regularly?
If you can prove that you have contributed to the household, then yes, you will be entitled to something although it may not be half the value of the property.
If you cant prove you have been contributing to the household, then I am afraid you will not be entitled to anything unless you can prove it is yours.

Answer 9

No the person without their name on the mortgage won't be entitled to any of the proceeds of the sale.

Answer 10

Unless you are married you wouldn't normally get anything. Did both of you pay the initial deposit? if so this should be split. Any profit would only go to the person who's name is on the mortgage.

Answer 11

in the UK a couple living together for 2 years are considered by law as of equal dependence on each other as that of a married couple . if a man has acted in a fatherly role to your children for over 2 years he may be liable to pay maintenance costs towards their keep regardless of the fact that they are not his children .
if the house is in joint ownership you are both entitled to half of any debt or any profit relating to the house .

i advise you both discuss this matter carefully because all to often people become bickering children over such matters meaning lawyers get involved , once lawyers get involved the longer they can prolong the pain of breakup the more more they make and the less there is to split .

my sister split with her husband and neither would part with the house worth about £150,000 , lawyers got involved and they both ended up about 4 years later with no house and £6000 each so i guess the lawyer won !