Transfer of Equity - rights

[Kim27385]

I moved out of a house jointly owned with my ex two years ago after only being there for 6 months, but we were together 5 years. He's offered 2000 for full settlement of my interest in the property (which cost 90,000 2 yrs ago & is now worth 109,000 min), including contributions made & items purchased. He did pay the mortgage but I paid for the central heating to be installed - thus bumping up the value rather a lot I would have thought - & practically all other items in the house. My question is, is this a fair settlement, or should I speak to a solicitor?
Thanks!

[Buenchico]

Many solicitors now advertise that they provide an initial 30 minutes consultation for free. It seems to me that you've got nothing to lose (and possibly quite a lot to gain) by following this route.

Chris

[lady_p_gold]

You must seek advice and I think it would be unwise to accept this offer as I think you would be entitled to a lot more.

[Didwot]

Assuming that you and he were not married (in which case a divorce court could make orders about the ownership of the property) then the ownership of the house will be determined by what you and he agreed when you bnought it. You either bought as Joint Tenants (in which case you own it equally) or Tenants in Common (in which case you should have defined the shares in which you own it - and in default of having agreed anything probably equally). By and large that will determine the position now. He has been living there and paying the mortgage, but that probably equated to the rent he would have paid elsewher, so unless he paid lumps off the capital of the mortgage there should be no adjustment required for that. If the property is worth 109000 subject to a 90000 mortgage then in order to get hold of your share the property would have to be sold attracting costs of say 3000. that would leave a net sum of 16000, and if you are entitled to half that would be 8000. 2000 is nowhere near that, but then again 6000 is not a lot of money these days, and an agreement is quicker and easier than a fight and a forced sale.

[Kim27385]

Thanks everyone! That's the courage I needed to speak to a solicitor - I wasn't sure I had any rights at all to be honest. I've spoken to someone now & even if the outcome isn't any different, at least I know my rights, and that I'm not 'fleecing him' for �2000.

Thanks again, it's been such a help.x