property woes after seperation :(

bazzer123

Hi All Hope some good soul can help me!!

I am separated from my partner 15 months now. We had been together for 12 years, livin together for approx 10. We never married. We bought a property 6 years ago. We paid the mortgage jointly although it did happen and continues to be in my name only. Since she moved out I have continued to pay the mortgage however as we obviously bought at a time of vastly inflated prices in 2006, is she now liable for half the negative equity. Neither of us want to take the property (and the high mortgage) on, and what are the options if we cannot reach agreement amicably between us? Am I solely liable for the debt as the property and mortgage is in my name or does the common law spouse factor come into the equation? Many Thanks in advance...

Procrastastudy

No recognition of Common Law marriage in Ireland as far as I know. I assume if everything is in your name - it's your problem.

krd

bazzer123 wrote: »

Am I solely liable for the debt as the property and mortgage is in my name or does the common law spouse factor come into the equation? Many Thanks in advance...[/COLOR]

No. You are not solely liable for the debt. When ye signed the mortgage, ye were accepted as two independent parties - joined together in holy celtic tiger mortgage, until death do ye part. There is no common law marriage in Ireland.

All these boyfriend/girlfriend mortgages are the equal liability of both persons. Whether resident of not.

Either party will have to get the bank to remove their name from the mortgage. They will be surrendering their share of the "asset" and of the debt. But the bank has to accept that, or they're both still on the hook.

Really....She is in as much trouble as you are. Talk to your bank.

If you want her off the mortgage, you'll need her to surrender her share, and the bank to accept the surrender, and accept you as the sole mortgagee - the bank may not want you to do that if they don't think you can't pay. But talk to your bank.

If she is gone...You should get her taken off the mortgage, one way or another....Otherwise she might come back in a few years time and demand a share of the house.

Procrastastudy

He says its all in his name - how would she end up being liable? Are you assuming she signed for it too? What if she didn't?

krd

GCDLawstudent wrote: »

He says its all in his name - how would she end up being liable? Are you assuming she signed for it too? What if she didn't?

Ooops.

If it's in his name, and his name only...he's the only one liable.


I was assuming she'd signed for it too...Boyfriend/girlfriend mortgages were common in the last few years before the crash.. If she isn't on the mortgage she isn't liable for the debt.


If he's having trouble paying the mortgage he should just speak to his bank - try to rearrange the terms of the mortgage.

Tigger

krd wrote: »

No. You are not solely liable for the debt. When ye signed the mortgage, ye were accepted as two independent parties - joined together in holy celtic tiger mortgage, until death do ye part. There is no common law marriage in Ireland.

All these boyfriend/girlfriend mortgages are the equal liability of both persons. Whether resident of not.

Either party will have to get the bank to remove their name from the mortgage. They will be surrendering their share of the "asset" and of the debt. But the bank has to accept that, or they're both still on the hook.

Really....She is in as much trouble as you are. Talk to your bank.

If you want her off the mortgage, you'll need her to surrender her share, and the bank to accept the surrender, and accept you as the sole mortgagee - the bank may not want you to do that if they don't think you can't pay. But talk to your bank.

If she is gone...You should get her taken off the mortgage, one way or another....Otherwise she might come back in a few years time and demand a share of the house.

its nothing to do with her

Procrastastudy

To be fair clearly wasn't written by Wordsworth - one of the first things he says is WE bought a property...

jimmycrackcorm

GCDLawstudent wrote: »

To be fair clearly wasn't written by Wordsworth - one of the first things he says is WE bought a property...

But paying attention to the post: the mortgage and property are in his name so his issue. In fairness OP, previous court cases have ruled, in common law disputes, in favour of the payer. Unfortunately, when it comes to negative equity, it's not in your favour.

Victor

Were you engaged?

bazzer123

No Victor we were never engaged. Not lookin great for me so

seamus

GCDLawstudent wrote: »

No recognition of Common Law marriage in Ireland as far as I know. I assume if everything is in your name - it's your problem.

No recognition of Common Law marriage, however the civil partnership bill introduced some "common law" elements in relation to co-habiting couples and property rights/obligations.

This bill was introduced in 2010, possibly before the OP split with his partner, so the OP should consult with a solicitor to determine if he can avail of anything under this act.

Procrastastudy

Did this become an Act in 2010 or 2011 slightly confused with my quick google search. Thanks Seamus I'll give it a read. It might even give me a couple of extra marks if I get a Family question on my Con Law exam!