ChatterBank2 mins ago
Cohabitation assets & property
This situation relates to my new partner. He bought his house 20+ years ago and it was for most of that time in his sole name, he paid the mortgage. He always earned considerable more. He was with his former partner all of that time but the property was only put in joint name 4-5 years ago when they changed the mortgage. The new offset mortgage was put in joint names as is the bank account it's paid from and both salaries then went to. She's paid nothing in after leaving over a year ago, he's even helped her out with living costs meantime.
She's now with someone else and wants half of everything, house, contents, the classic cars he's done up, everything. He was going to give her half of the house & contents anyway but she's claiming that the car she got and the household stuff he helped her move, as part of their verbal agreement were a 'gift'. She's refusing him access to expensive items that he bought for his hobby, which were moved and stored at her new place, so they could put the property on the market.
Having read up a bit I understand that if property is bought jointly, it's a 50:50 split of proceeds. But this wasn't bought jointly - so is it the difference in value between what he brought in 4-5 years ago and the value now, that is split? Or is 50:50 regardless of time and level of contribution?
And what about the value added through his work on the cars - surely that's his?
She's now with someone else and wants half of everything, house, contents, the classic cars he's done up, everything. He was going to give her half of the house & contents anyway but she's claiming that the car she got and the household stuff he helped her move, as part of their verbal agreement were a 'gift'. She's refusing him access to expensive items that he bought for his hobby, which were moved and stored at her new place, so they could put the property on the market.
Having read up a bit I understand that if property is bought jointly, it's a 50:50 split of proceeds. But this wasn't bought jointly - so is it the difference in value between what he brought in 4-5 years ago and the value now, that is split? Or is 50:50 regardless of time and level of contribution?
And what about the value added through his work on the cars - surely that's his?
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