Does anybody have equity in a home they don't live in?

[GeetTallBird]

Long story short...my gran left me some money which exH and I used for a deposit on a mortgage. He's since left and moved in with his new GF and kids & wants to sell this house where me and his two kids live. He's paying mortgage now and most bills but (understandably) won't pay that for ever. We haven't got a legal separation agreement yet but once we do and start divorce proceedings I think everything will change quickly.

I've suggested that WE move out and he moves in here with his GF and her kids, then in the future I could get back the money my Gran left me? I thought the money his GF pays in private rent would be useful to him in his situation? What do you think?

Can't sell the house now as its not finished (thanks OH) and estate agents say we'd lose money selling it now.

[NewHouse]

Get this moved to legal if you can.

Has he been giving you 20% of his salary minimum for his children? He has to pay half of the mortgage until you get something sorted with solicitors. Are you working? Can you buy him out? Were you married when you put your inheritance down as a deposit, did you get anything drawn up regarding that? You may find it will have gone into the marital pot and you won't get that back.

[GeetTallBird]

Thank you, I'll ask for it to be moved!

[smartiesrule]

You are allowed to stay in the house till the youngest is 16 or out of full time education, and you could go onto an interest-only mortgage until then.

[RedHelenB]

Not necessarily Smarties.

[RedHelenB]

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[GeetTallBird]

Interesting point there RedHelenB!

[DonInKillerHeels]

I bet that was a DC

[Collaborate]

On divorce the judge (if you don't agree things) will split the capital in a "fair" way. There are also orders the court can make against income. the source of capital is one factor. Look at s.25 of the Matrimonial Causes Act 1973. That lists the factors to be taken into account. Needs generally override all other considerations.
It's complicated. You'll need to see a solicitor. There is a significant body of case law that will affect the view of a judge.