Dazzler

Hi

Currently in the process of looking to buy a house with my girlfriend. We will be selling both our properties and will use the equity for the new place, plus a shared mortgage.

The key part is that she has two children (aged 3 and 5) from her previous marriage.

Now, being a pragmatist rather than a pessimist here, if our relationship did break down does anyone know where the law stands on the house situation?

Would it be difficult for me to get my equity back out of the house if there are children involved ?

Any advise or pointers on this would be greatly appreciated.

Cheers

Vette_76

Speak to a solicitor!!

T4molie

^^^ What Vette said

My bro did a similar thing with his missus (although there were no kids involved). He was putting money into the property along with some money from the other half's mum. They basically had a contract made up that effectively stated how much each party was putting in (and would get back when sold) and that the any profit made would be shared equally

Hope this helps

De Warrenne

Our solicitor made up an agreement where relative equity (including any growth) would be split according to size of initial contribution, in addition this was done FoC - good fella!

SupaMiniCupa

A mate of mine is going through a break-up after just buying a house (they were due to be married in Aug). They are still living in the same house etc etc

Its about to go ****-up big time with regards to the money side of it. He put in loads, she has put in nothing, and expects a 50/50 split - so be careful! Sorry I'm no more use than that I'm afraid.

OllyK

When the solicitor is making the deeds up - ask them to set up a trust deed, with the proportions set accordingly. I own 75% of my house, the misses owns 25% as an indication of the cash I put in from my own house. Perfectly normal practice.

Dazzler

Cheers guys.

I will definitely be getting a contract such as a trust deed set up, we've covered that thankfully. She will be putting in at least as much as me if not a little more as equity.

The bit I'm not sure about is where I stand on getting my money out of the house if she is living there with the children and we split up. Will she have the right to stay indefinitely ?

I know I need to speak to a solicitor, but just wanted a bit of advise initially before being charged stupid amounts by them.

Vette_76

Just make sure you're got yourself covered mate!!

If I had £1 for every bloke that's posted on here about being shafted by the former "love of his life" I'd be a rich man.........well.........maybe not rich, but I'd definitely be well off!!

Trashman

Even with 50% ownership and children, she has no more right to stay there than you. The children do NOT make a difference.

scoobkev

my advice.......... dont

Trashman

Now THAT I agree with wholeheartedly!

brybusa

Sorry, your wrong

In the eyes of the law your buying a family home, with children so young, you'll be the one out on your ear..and still contributing to the mortgage

Been there and done it

Trashman

Likewise been there done it - it makes no difference. Unless the law has changed in the last 2 years. Only difference is if you are married.

milo

lol maybe.... but you'd lose it all when your gf/wife leaves u

Brendan Hughes

Be aware of the difference between the RIGHT to your money, and the ability to GET your money. You'll have the right to it, sure - but if she makes no effort to sell the house, or claims that moving would cause the children hardship (err, say her equity gets her no other property in the area, disturbance to schooling etc), your ability to GET your money will not materialise for a looooong time.

Seen it done with a couple that split WITHOUT children . He's eventually walked away with nothing. No idea what happens when (if ever) she comes to sell the house. Maybe she can't, but at age 40, I don't think she's too bothered for the next 30 years.

Good luck

Vette_76

Only if they find the body!!

Shark

Your asking yourself this question, is the problem. If you have to you shouldn't be thinking of moving in with this girl.

David

T4molie

I sort of agree with this comment but then there's nothing wrong with covering ones a$$ in case it DOES all go pear shaped

milo

why might u want life assurance, a will, fully comp car insurance, contents insurance etc etc etc? "just incase". same applies here.

it would be naive to assume that a relationship is certain to work. afterall, FAR more relationships fail than succeed.

v8voodoo

In response to the "only if your married bit", doesn't she become legally something similar to your wife after you've been living together for 6 months..? Be careful buddy, there's a lot of us who've been there and got burnt big time. Not wishing to stick my neck out too much here, but it always seems to me that the law is stacked in favour of the lady and nippers...

Nige.

Shark

Sorry if my first post sounded a little harsh. I had a girlfriend who moved in. She kept on wanting to move so we could get a joint mortgage. I am now 100% convinced that she was trying to get her hands on the not inconsiderable equity I have built up in the last 10 years. Be careful, and get legal advise.

I wish you the best of luck.

David

Trashman

No, the "Common Law Wife" is a myth. For some purposes, your partner can be considered similar to a wife (some motor insurance for example) but they have no legal rights in the same way as a wife.

Dazzler

I know where you are coming from Shark, but it's one hell of a commitment for me so I need to take of the rose tinted glasses and realise that there may be a minute possibility that we may find that we've done the wrong thing and we're not meant for each other.

If that is the case I don't want to be in a position where I'm turfed out of the house without a penny of my equity, or where I can't get my hands on it for a very long time.