Tenants in common: Dividing property

[Ellenp]

Hi, I own property with my ex partner. We both worked and held a joint account which our wages were paid into and the mortgage was taken out of. When we purchased the property, I paid the 10% deposit in full plus the legal fees and aprox 20k to refurbish, all of which can be traced to my old bank account where I held my savings. My solicitor may issue proceedings for a decision to be made by the courts but first both of our solicitors are due to meet and discuss a possible settlement. From my understanding, once we issue proceeding we sever the joint tenancy and the property is then a tenancy in common with both our contributions to the property taken into consideration. Does anyone have any idea, experience or knowledge of this type of scenario. The solicitor that I am dealing with can't give me any idea as to what share I could expect by the courts but ideally I'd like to have some idea no matter how vague so as to balance whatever offer is made by my ex against a courts outcome. I do understand that going to court will be expensive and will have to weigh up the offer (which will be around the 50% mark) against the possible cost of legal fees and getting an extra ?? % from the court. I'm really uncertain. I can't find any Irish case law relating to decisions regarding this. Can anyone help? Thanks

 

[Swallows]

Hi EllenP, my understanding of a "tenants in common" is when the property is first purchased this is put on the deeds at the outset. My experience of this is from the UK, and a joint tenancy can be changed by mutual consent by writing to the land registry with both signatures. Have you not asked your solicitor what the situation is? I would be surprised if a joint tenancy can be converted to a tenants in common under the circumstances you describe when you are in the middle of dispute. More than likely the court will decide how the property proceeds will be shared if it goes to court or, as you say, a settlement is reached.

 

[MOB]

EllenP,

Unless this property is hugely valuable, you and your ex are crazy to go to court over it. Try to reach an amicable settlement.

Did you both have similar earnings - all lodged to this joint account - while together? If so, then a reasonable outcome would be for you to get your savings back 'off the top' and for the balance to be split 50\50.

If on the other hand, one or other of you had significantly greater earnings during the relationship, then there may be some argument in favour of giving due credit for this. In other words, if two thirds of the money going into the joint account was yours, it might be reasonable to attribute two thirds of the mortgage repayments as having been made by you. Conversely, if your partner's earning were higher than yours, this might be regarded as compensating to some degree for the up-front money provided by you. It's a messy area, and the 'rough indication' you are looking for depends on many factors, some of which I have adverted to above.

 

[Ellenp]

Thanks for replies. As far as I know Swallows a joint tenancy can be broken without the consent of the other joint owner and if proceedings are issued then its broken immediately. My main point of posting was related to the law aspect but as MOB said it seems a complex area. I've searched Baili for some case law hoping to find how disputes of this type are settled and what are the points of law/factors considered but didn't have much luck. From what I gather the courts have a wide area for discretion on deciding what is fair and equitable but I could be wrong. Does anyone know of any other websites that deal with Irish law or discussion boards?