Breaking up - what to do with the house?

LegacyUser

Myself and my partner have broken up after a long and wonderful relationship. We have a house which we bought together. I want to keep the house and reimburse my partner for her share. Does anybody know the best and cheapest way to do this please? - ie to avoid solicitors fees etc as much as possible.
Thanks

seamus

I think you're going to have to speak to a solicitor - at the very least to get solid advice on the matter.
Since legally you both own half of the house, she has to legally "sell" her share to you, and relinquish all claims to it.
Extraneous to that, treat this as a business transaction. Don't try to do it delicately, or do her any favours. If everything gets done by the book, everything gets done smoothly and without any emotional pain.

Beruthiel

get the house valued by a couple of different estate agents, come to an agreement on how much you will be giving her and get the solicitor to draw up the papers putting the house in your name

LegacyUser

Very tough situation - I don't envy you. Both pieces of advice given above are probably the way forward. Are you the man or the woman?

One thing to add I suppose is: if you can't come to an agreement quickly and without arguing, then you'll just have to sell it and split the winnings/losses! A total waste of legal fees and whatnot... but it's another realistic solution.
This is the agreement I had with my family before buying property with them - basically if we couldn't agree on something at any stage, sell up and split - it's a fair solution. That way we stay talking to each other.

vibrant

Beware of capital gains tax! Make sure that your solicitor doesn't leave you open to be stung on the money you "make" in the sale. Also, it's a murky situation with regards to stamp duty and all, so you'd be really wise to go to a reputable solictor rather than Joe Cheap-o.

LegacyUser

Thanks for all the helpful replies. Does anyone know if a solicitor will charge me just to visit and check out my options?