my friend and her partner split up 3yrs ago and moved in with someone else but carried on paying her share of the mortgage,while her ex stayed in the house mortgage is in both names and no children involved ,now she wants to sell but the ex is saying she wants a larger % of the proceeds because she as had a lot of work done in the house new kitchen /bathroom etc...can she demand this or should it be half&half...can any one advise thanks..
2007-05-23 20:34:27 · 7 answers · asked by casha1 6 in Politics & Government ➔ Law & Ethics
As she continued to pay her share of the mortgage, she is entitled to half of the assets of the partnership as they are now, not at the time of the split 3 years ago. However a court would reasonably deduce that some of the capital increase in the value of the property came about as a result of improvements paid for by the ex. They would reasonably conclude that each party is entitled to a 50% share of the property as it stands now (not at the time of the split) minus the reasonable cost of the improvements bourne by the ex.
It is an urban myth that partners are only entitled to half the asset at the time of the breakdown of the relationship. This is not true - my own divorce took 2 1/2 years to go through, in the meantime the house (which I stayed in and paid the mortgage) rose from £130,000 to £190,000. My ex got half the £190k not the £130k it was worth when we split......
2007-05-23 21:31:03 · answer #1 · answered by derbyandrew 4 · 1⤊ 0⤋
I would say she is entitled to half regardless of the work she has had done - my friend's ex got half and he had not contributed as much in any way - they were only married 7 years and she had had a house for 16 years on her own - also she had inheritance from her parents - he did not put in any of the equity nor did he pay any part of the mortgage - but the house was in joint names - and he had half of every asset she had - let that be a warning girls!!!
2007-05-23 20:49:42 · answer #2 · answered by Lady Faversham 3 · 1⤊ 0⤋
If the work was done before the split, it's going to be a 50/50 split without question.
If the work was done after, then the cost of the improvements should be removed from any settlement. Bills etc would be useful, but in their absence an estimate needs to be agreed upon.
2007-05-23 21:00:55 · answer #3 · answered by Anonymous · 1⤊ 0⤋
A court will probably award half and half, but then add into the portion of the person who's done additional work to the house. This in effect would be like lowering the percantage, however it would basiclly be the amount of value the person put into the house theirself that would be add into their portion and subtracted from your friends portion.
2007-05-23 20:41:29 · answer #4 · answered by caffeyw 5 · 1⤊ 0⤋
She can demand whatever she wants. The lawyers, an ajudicator or a judge will have to agree with the terms of settlement. The lawyers will ask for more for their clients usually dollar-based,on what each had contributed since the separation.
2007-05-24 01:52:16 · answer #5 · answered by reinformer 6 · 1⤊ 0⤋
it's half and half..the person who is still living in the property has got to buy the other persons half so to stay in the said property or it goes on the market...consult a lawyer
2007-05-23 20:42:14 · answer #6 · answered by ? 4 · 1⤊ 0⤋
She has the right to get what she had spent.If there is documentary evidence it is possible to get more than half.The principle of source and application of money in the same ratio is applicable.
2007-05-23 21:08:29 · answer #7 · answered by leowin1948 7 · 1⤊ 0⤋