Silvio Dante
Registered User
- Messages
- 127
Legally speaking this is not at all clear. Leave aside bankruptcy for a moment, my understanding was that even where a home was jointly owned, and they don't even have to be married, if one party makes all the payments on the mortgage, than they are entitled to the equity they have built up, and the other partner, if they have contributed zero, are entitled to nothing. There is case law on this, it comes up occasionally. But Ireland being Ireland, you never know until your own actual court case what way the wind blows.
I think there could well be a very solid legal argument that where a spouse makes all payments they are entitled to a higher beneficial share.
If we park the mortgage payments by the spouse what is your best estimate of the discount an OA would grant a spouse in purchasing equity in family home?
I have heard 15% is norm (avoid long court process and all associated costs etc).
Do you concur?
I would say there is approx €150,000 equity now in house.
My wife (full time employed) has paid the mortgage (agreed as interest only for 5 years with bank) solely since May 2012.
She has paid 55k since then.
.
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