Quizzes & Puzzles3 mins ago
Joint home ownership- my rights?
4 Answers
Am I entitled to a 50/50 split on our jointly owned home?
My partner and I are unmarried and have been co-habiting for 10 years.
Our first property was bought cheap and we renovated it together. However it was owned in my partner's name only and he paid the mortgage as I was unable to work due to health reasons.
We had a child and moved house. Our current home was bought with the profits from the sale of the previous house and the profit far exceeded the mortgage, so we were able to buy our new home outright.
Some of that profit is being used to pay for renovations on our new home along with some of my own personal cash.
The property has been bought as 'joint tenants', because despite not paying the mortgage on our previous property, I contributed in other areas, eg: bills, improvements, running the household etc, and it seemed the fair thing to do, as it had been a joint venture. We thought by being 'joint tenants' we would have equal shares in the new property.
However, I am concerned that as we are not married, if we were to separate and things got nasty, my partner could argue that our current home is 90% his.
Could my partner rightfully claim a greater share of the property?
My partner and I are unmarried and have been co-habiting for 10 years.
Our first property was bought cheap and we renovated it together. However it was owned in my partner's name only and he paid the mortgage as I was unable to work due to health reasons.
We had a child and moved house. Our current home was bought with the profits from the sale of the previous house and the profit far exceeded the mortgage, so we were able to buy our new home outright.
Some of that profit is being used to pay for renovations on our new home along with some of my own personal cash.
The property has been bought as 'joint tenants', because despite not paying the mortgage on our previous property, I contributed in other areas, eg: bills, improvements, running the household etc, and it seemed the fair thing to do, as it had been a joint venture. We thought by being 'joint tenants' we would have equal shares in the new property.
However, I am concerned that as we are not married, if we were to separate and things got nasty, my partner could argue that our current home is 90% his.
Could my partner rightfully claim a greater share of the property?
Answers
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Do you in fact mean you are 'tenants in common' as joint tenants is what most people are. Do not sound apologetic for being whatever you are, you are just as entitled to benefit in the growth in the value of the property as you have been caring for your child and contributing as you can. This is not a trained legal opinion, someone else may give you that, however I do not think there is a hope in hell that he would be able to argue that the current home is 90% his. In fact he would probably have to buy you out as you would probably be able to remain there with the child. Not being married makes things a bit less clear cut, but do not be bamboozled into doing anything hasty and if things did get 'nasty' make sure you get the proper legal advice. Best thing is to be fair to each other and reach an amicable agreement without involving solicitors, but you maybe should get a one off advice session so you know exactly what your rights might be.
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