splitting up

[karana1685]

my partner and I are splitting up he wants to move away, the house and mortgage is in his name. I am going to buy him out pay off his mortgage and take a new mortgage in my name. The house is worth �130k and the mortgage is �85k. We have agreed that I will pay his mortgage off and give him �10k. Can I have him sign anything so that he cannot come back at a later date and try and claim some some more money from the property.

[fathima1022]

I do not see a need for you to sign anything else. Once the property is transferred to you, it will be your property & your partner will not have any interest in it. However, just to be on the safe side it is perhaps best to have an agreement drawn up by a solicitor (maybe the one that you use to do your conveyancing of the property), just to set out the terms that you have agreed, ie. the payment of �10,000 and that your partner will not have any other interest remaining in the property.

I would also suggest that you think about whether you have any current rights over the property. Have you made any contributions to the mortgage? Any home improvements? Although the property is in the sole name of your partner, if you have made any contributions to the household...in the past, the courts have found that the property is held on trust by the sole named partner for both in the relationship. This entitles you to a share under a resulting or constructive trust.

This is perhaps something that you should look into as well.

[karana1685]

hi fathima thanks for reply, I do contribute to the mortgage payments and we have both paid for home improvements.
We are splitting up quite amicably, but I have read numerous posts where this happens and then some time later an ex partner tries for some more money and I just want to safeguard myself. Once the property is transfered to my name does that then completely take away any interest in the property, could he try and claim a resulting trust?

[ethandron]

You should get a solicitor to draw up a separation agreement for unmarried couples. This is just like a divorce and includes clauses that state neither partner has any further claim on each other and can list who gets what possessions that were bought jointly.