House in negative equity with ex partner

C

Cutiepie

Guest
Hi,

Can someone advise me on the best course of action in the following situation?

House currently in negative equity - €40k
House is joint ownership with ex partner
Tracker mortgage with PTSB
House has been rented out last year but i got landed with managing tenants, organising tax returns etc while ex didnt partake in any maintenance of the property.
I have found out that BOI will lend to me as a single individual if i offload the current property and have a max negative equity of €20k.


Given that this new property tax is going to come to pass...should i just keep the house in east cork rented out for the next year and see how things pan out with PTSB or do i sell now, take the hit on the negative equity and buy a modest 3 bed semi in the area that in the long term has better market value ie nearer the city and nearer to my work?

I wish to add that my ex partner doesn't care either way if i suggest selling the house in east cork or not.
I could continue to rent it for a further 12 months and see how things go?
What to do?
 
Can anyone tell me the legal situation of this: if one person has a property with an ex, but in the future they get married to their new partner, is the new partner legally involved with the ownership etc?
 
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