Quizzes & Puzzles11 mins ago
She contributed nothing - - what can he do?
3 Answers
A friend has recently separated from his partner of 20 years.They had a platonic relationship for the last 10 years ( her decision) and have no children.At no time did she contribute anything to the mortgage or household expenses or do any work in the home. For the first 16 years the house they lived in was in his sole name but 4 years ago they moved house and the house was put into joint names. My friend has consulted a solicitor and has been told that his ex has rights to half the value of the property.Is this correct?
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For more on marking an answer as the "Best Answer", please visit our FAQ.The thing is, if you own a house in joint names you both own all of it ...... your friend would either have to buy her out or sell the property and come to some arrangement about the splitting of the proceeds. Not sure which one of them is left in the house, if one of them now has another property one would have to watch the fact that they may be liable to capital gains tax on the sale of the property if they now own another one.