Seprating from husband-How to split up the house

[Luisa]

I'm getting separated from my husband. We bought a house together 2 years ago. No children, no accounts, no loans together, only house....We agreed the he will get the house and will pay me my share. Does anybody know how much it should be?

 

[ninsaga]

50% if that's what you can agree on...unless you can provide further information so say otherwise.

Did you both pay for the house equally? Did you split laon replayments & general upkeep etc etc?

ninsaga

 

[Brendan Burgess]

Hi Luisa

You should get half of the equity in the house, which is the current value less the mortgage.

House value today: €500k
Mortgage: €200k
Equity: €300k

Your share: €150k.

If one of you contributed a higher share of the deposit, then it might be fairer to split it differently.

For example, if you bought the house for €300k funded as follows:
Mortgage: €200k
Him: €75k
You: €25k

He could make a case that he owns 75% of it, but it would be usually assumed that you own half the house each.

Brendan

 

[woods]

If one of you contributed a higher share of the deposit, then it might be fairer to split it differently.

For example, if you bought the house for €300k funded as follows:
Mortgage: €200k
Him: €75k
You: €25k

He could make a case that he owns 75% of it, but it would be usually assumed that you own half the house each.

Brendan

I think that a fairer breakdown under the above circumstances is that he gets €50K more than her but not 75% of the equity unless he also has been paying 75% of the mortgage.

 

[Brendan Burgess]

Hi Woods

I was interrupted in the middle of writing that post, and on reflection, you are absolutely right. You must take into account what percentage of the repayments each person makes.

Brendan

 

[onekeano]

Maybe get 3 agents to value to the house and take the average less outstanding mortgage and divide by 2?

Roy

 

[woods]

Maybe get 3 agents to value to the house and take the average less outstanding mortgage and divide by 2?

Roy

The only way to get a true value (unless you are on an estate) is to put it on the market.

 

[Brendan Burgess]

The only value you are interested in is the value you agree between you. In many cases this is easy to arrive at. Alternatively, you can ask a valuer to value it for you, but they vary a lot and might charge for the exercize.

Brendan

 

[onekeano]

The only value you are interested in is the value you agree between you. Brendan

The thing is that you don't want someone feeling that they have been hard done by in a situation like this. I actually know someone in exactly that situation right now and it causes serious bad feeling.

Alternatively, you can ask a valuer to value it for you, but they vary a lot and might charge for the exercize. Brendan

That's why I felt the fairest approach is the average of say 3. If you ring 3 agents and tell them you are thinking of selling there will be a queue to your door providing valuations in writing for free.

Best of luck in a difficult situation.

Roy