What happens to the house
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@Neena no it's to be split 50/50 as he was always to pay the mortgage. Eventually he will own more then me as I've not been contributing
The couples I've known in this situation have either sold the house and split the money, or the person who wanted to keep the house bought the other out
If no DoT, then whatever equity you had in the property would be split 50/50 including your deposit. He will not own more than you regardless of what he’s paid. It would be an equal 50/50 split. What you do with your share depends on your situation. If you’re working you could use it as a deposit on a flat or smaller place if the prices are within your budget. If you don’t qualify for a mortgage then you would use the equity money to pay for private rental for you and your kids. Once the money runs out, you would be able to claim housing benefit but beware that it may not cover your entire rent so you’d need to get a job to cover the shortfall. Or failing that, wait until you get evicted from the private rental and are made homeless, then present to your local council as homeless who will place you in a hostel/B&B temporarily which could be months or years until you are able to bid on a property or find a landlord willing to accept housing benefit tenant and pay the difference.
@Raqi I’m guessing OP is in the UK, in which case buying out the other party you’d literally have to be mega rich or have a really highly paid job to do this due to the insane house prices over here lol
My SIL sold the property when she separated from her husband. To qualify for certain benefits she only took a certain amount from the sale , if she had too much money / savings she wouldn’t get these
Not enough information. Whis name is on the house? What country are you in? You arent married it wont be split how a divorce splits.
It goes 1 of 2 ways. Sell the house or he buys you out. There is no option 3, because you can’t afford the house on your own.
I've seen the court order for home to be sold and proceeds divided evenly. Seen this in divorce settlements though
When I split with my ex he bought me out of the house (he paid me 50% of the equity in the property) and he remortgaged by himself and we had a solicitor remove me from the deeds. So, when it came to buying my current house with my fiance, this money was the deposit, so our mortgage is "tenants in common" not "joint tenancy" which means that should we split and sell, I'm entitled to 65% of the equity, and him 35%. If you didn't do this, then it's 50/50 if you sell. If he's been paying the mortgage though, then tbh it's probably fair at this point to go 50/50, whereas both me and my fiance split the mortgage equally between us. So, you either sell up or he buys you out, those are your only real options. As you're a SAHM you definitely will not get a mortgage on your own, even if you have a job it will be a stretch, unless it's a VERY good paying one! I'd definitely NOT sacrifice my happiness for money and a house though, it's not worth it.
@Raqi my ex bought me out, as he didn't want to sell
When you took out the mortgage, did you take out a Deed of Trust and ringfence your deposit and state how the equity would be shared (what percentage) in the event of a split?