I have recently split up with my partner, and we have a house together. she is wanting to stay in the house. I have been told many different things, like, she will have to buy my half, or i will only receive half of what profit we have made on the house. can anyone tell me what i should expect, or what to do
2007-10-09 20:45:51 · 6 answers · asked by Darren 1 in Business & Finance ➔ Renting & Real Estate
It's your choice whether you want half the profits or to just let her buy you out.
I would let her buy you out then you can have a clean break rather than having to make sure you get your fair share.
2007-10-09 20:50:39 · answer #1 · answered by tinkerbell 7 · 0⤊ 0⤋
See a Solicitor.
It all depends .. are you Married ... are there any kids ??
Generally ...
1) You are married.
Until you get Divorced, BOTH of you are responsible for paying the Mortgage and BOTH of you own the house.
2) You get Divorced - no kids.
Usually the assets of the Marriage are split 50:50 = you each now own half the house and you are each responsible for half the Mortgage. Typically the house is sold because one partner wants out and the other can't afford to increase the Mortgage to pay them for their half.
3) You get Divorced - you have kids
Typically Mum gets the kids and thus the house. Dad moves out but is still responsible for the Mortgage and for paying maintenance .. Mum moves her lover in and Dad never sees the kids again ..
4) No Marriage, no kids.
WHO 'owns' the house ? Who put up the Deposit ? Who pays the Mortgage ?
If you BOTH pay towards the Mortgage, then (usually) you each own half the house .. hence the suggestion that you will have to split the house 50:50..
See a Solicitor ..
2007-10-09 21:49:57 · answer #2 · answered by Steve B 7 · 0⤊ 0⤋
if she wants to stay in the house she has to be able to afford to pay you half of the value of what the house is worth now, and be able to take on the mortgage, sorry it didn't work out good luck in the future
2007-10-09 21:12:58 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Don't split up man Love your wife Then there will not be any house problem
2007-10-09 21:03:33 · answer #4 · answered by Anonymous · 0⤊ 0⤋
why don,t u let her buy u out get urself another place and move on with ur life not worth the hassle all the arguing and lawyers fees
2007-10-09 21:51:05 · answer #5 · answered by margaret d 2 · 0⤊ 0⤋
Call a lawyer
2007-10-10 04:18:58 · answer #6 · answered by Shawna Marie 3 · 0⤊ 0⤋