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Some advice please

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  • 22-11-2013 2:35pm
    #1
    beakerjoe
    Registered Users Posts: 20,753 ✭✭✭✭


    Hi Guys never posted here on the legal discussion just wondering about a matter that has arose for myself and my partner.

    My partner bought a home with her ex, he has since left in oct 2012. He walked away from paying his mortgage and left her holding the debt. She still lives there paying the mortgage and lives with their son. He hasnt paid anything since oct 2012 and the joint account was scrapped (where the money was taken for the mortgage) and its now coming out of her own account since march.

    Now the house is in negative equity (worth about half its worth). Now her ex is hitting rock bottom, struggling with his own money. He rang her saying he wants to be bought out of his half of the house.

    She told him he hasnt paid it in mover a year and since its in Neg Eq that she wont be giving him anything. He said he will seek legal advice and get money out of her.


    Personally I think its an empty threat and wont follow through, but would I be right in thinking he doesnt have a leg to stand on anyway?

    I can give more details if need be

    Thanks Guys


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    #2
    jhegarty
    Registered Users Posts: 6,437 ✭✭✭jhegarty


    I don't think he understands that in a negative equity situation he would be paying her, not the other way round.


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    #3
    beakerjoe
    Registered Users Posts: 20,753 ✭✭✭✭beakerjoe


    Thats what I assumed, but wasnt sure since he did pay half the mortgage previous to when he stopped paying.


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    #4
    Bepolite
    Closed Accounts Posts: 2,737 ✭✭✭Bepolite


    Get legal advice on this. At the moment it's perhaps no so urgent, but the market is improving and in the long term she will want this situation resolved. This is a somewhat counterintuitive area of law surrounding equity. As will all things there may be an ideal time to get the best possible deal.


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    #5
    beakerjoe
    Registered Users Posts: 20,753 ✭✭✭✭beakerjoe


    Will do, Weve spoken to the bank on what to do and we have an idea of what course of action to take. Many Thanks


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    #6
    Valentine1
    Registered Users Posts: 434 ✭✭Valentine1


    I don't think you need to do anything. if the house is NE no one is going to be getting anything.


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    #7
    beakerjoe
    Registered Users Posts: 20,753 ✭✭✭✭beakerjoe


    My partner just got legal advice. Very happy with outcome. Basically the NE means he will get nothing and she can either get him to sign away his interest of the house or she can go after him for his half of the payments. Its in his best interests to sign away the house actually for nothing. If he doesn't he will be liable for his share of the mortgage.

    Thanks to all those of gave advice guys.


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    #8
    Grolschevik
    Registered Users Posts: 3,472 ✭✭✭Grolschevik


    beakerjoe wrote: »
    My partner just got legal advice
    johnysam wrote: »
    Get legal advice on this.

    :)


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