Separation and 3 way mortgage.. Please help

(7 Posts)
L4dyluck Thu 13-Feb-14 18:02:03

Long one but bear with me..

Was with ex partner for 12 years. Have DS 10. Been split up for 2 years. When DS was 6 months old we remortgaged my mums house and mortgaged it with the 3 of us (me,ex p and my mum). We all lived in the house together with my siblings as well.
When we split up he continued to pay the mortgage and no maintenance for a year. Now he makes no contribution to mortgage but does pay maintenance monthly ( a family based arrangement - which I am happy with)
This month he has declared he wants me and my mum to agree to sell the house or remortgage again so he can have his equity and remove his name from the mortgage. Neither of which are really a financial option for me and my mum. He is now saying he will take us to court and I would just like as much help/info/advice as I am able to get from anyone with experience etc

I know it's a very unique situation but finances are stretched and I don't have the funds to see a solicitor at the moment and I ended up waiting at citizens advice for hours when we split up!

Thanks in advance x

L4dyluck Thu 13-Feb-14 21:52:04

Bump

LauraBridges Fri 14-Feb-14 06:59:59

Are you married? That makes a big difference. Let us assume not.
Second question was there any agreement at the time you remortgaged in writing or verbally?
Do the land registry details say the three of you hold the property as "joint tenants" or tenants in common and if the latter does it specify there or in any agreement between you what percentage shares each of the 3 of you have?

If there are no written or verbal agreements and you own a third each and you are not married then his obligation is to pay for the child (not you as you are not married) so that is a % of his salary under CSA formula. Then yes normally a joint owner cna get a court order for the property to be sold. However here there is a child so possibly (only possibly) under the Children Act the child might be allowed to stay to be housed.

Why did you give this person to whom you probably were not married a share of your mother's house 12 years ago? Just so you could use his income in order for you all to get some cash out of the house? Why not just move in him with a written cohabitation agreement saying he gets no share?

L4dyluck Fri 14-Feb-14 08:38:56

The land registry states we own it as joint tenants.
I understand he needs to provide for his child and not me and I have no qualms with that, or the amount if maintenance he provides.

So the likelihood is he will get approval to sell the house even though myself and mother do not wish to sell yet ?
And even though we are paying the mortgage between myself and mum and he makes no contribution ( which also I am more than happy with) ?

The reason for getting the remortgage in the first place is not really important now, unfortunately hindsight is a great thing ! :-S

Sorry to be a pain but would just like to know my best options x

LauraBridges Fri 14-Feb-14 09:44:03

Yes, subject to the point about the Children Act and not making a child homeless. When you aren't married and jointly own properties you can get a court order if the other person won't move out or won't sell and split the proceeds.

Do you own it in thirds? The Land Registration details may not say but you may have agreed that at the time in writing or verbally or was it agreed he would have 50% or 75% or what?

A separate issue: if it is joint tenants and one of you dies that person's share goes to the other so if you and your mother died he gets the lot. At the very least you need to to so something called "severing the joint tenancy" and making it tenants in common - you can do that without his agreement. That means if you and your mother die he does not automatically get your shares of the property as it has been changed to tenants in common. That is a separate issue.

haveyou tried all options to buy him out? For example your mother might be able to get "equity release" with your ex's share paid to him now and your mother paying the lender back when she dies from her share. Or you could move out for a bit and let it and get a buy to let mortgage over it as the rent counts as your income in that case and use that remortgage money to pay out whatever his % share is.

L4dyluck Fri 14-Feb-14 13:36:29

I believe it's a third each but I could be wrong?
I have spoken to a legal company for some quick advice but there is no way I can afford legal fees and I do not qualify for legal aid so I'm at a loss really. It's more beneficial for him if he continues with the way things are as he will get a nice bit if equity without paying anything in when I am eventually in a better financial situation to sell.
Might be worth looking at the extra options you spoke of.

LauraBridges Fri 14-Feb-14 14:53:05

Yes, do look at them otherwise it will hang over you and if it doubles in value he will get a bonus which is not fair for him to have. Better to buy him out if you can.

Even if you do not I thin you, your mother and he on a piece of paper should draw up your agreement that you have a third each and in what circumstances than can be a sale, if he could sell his share to someone else for example, what happens if your mother dies, whether the shares are as joint tenants and you all inherit from each other and also do sever the joint tenancy so you can all leave your shares where you like.

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