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Finical issue - proceeds from house sale
#1
Hi all,

Following the breakdown of our relationship our property was sold around two weeks ago with around £13k equity remaining "in the pot". EX instructed solicitor dealing with sale proceeds not to divide the money because in essence she wants a higher percentage of the pot because she invested a substantial amount more than I did. Prior to us buying the house as far as I was concerned when went in as equals (nothing was drawn up to say she got x amount out if we sold it or split up) so we exit as equals, aside from that I left a decent amount of assets in the property which she still insists I didn't. As far as I'm concerned the pot should be split equally as stated as we are joint tenants on the property and we were not married. I had a bit of advice on this and basically I was told it would cost more to resolve this via courts than what my share (6.5k) would be. Solicitor holding onto the money is saying unless we get an agreement the money isn't to be released. I can't see I'm in a hurry to sort it out but obviously at some point it will have to be, ex is unreasonable and offered me £3k, obviously I rejected this as I need to try and set up a new home for me and my son when he's with me. 

Any advice where to go with this? I can only see court as the only option but I don't want this costing me a fortune in the process because she won't honour the equal split. Most people are telling me to just wait it out but that could obviously drag on for years/months.
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#2
Yes say ok I will accept 5k and let her have the 8
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#3
That’s the issue, she won’t negotiate and offered me £3000 and that’s it. Just wondering how I exercise the legal part of the agreement whereby it’s 50/50 without costing me a fortune.
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#4
I'm not an expert but I think what you're referring to is the TOLATA process.
I'm going to be in the same boat with my ex when my house eventually gets sold in the future.
We're not married as well and no agreement was signed up before we separated.
The TOLATA process is very expensive and which ever party loses the case has to pay the other side's legal fees!
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#5
Thanks Andy. I’m probably better off waiting to see how long she takes before she wants the money, probably not long as she’s very money motivated.
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#6
That may be your best option. Depending on how much is at stake it could be wiped out in legal fees.
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#7
Yeah, looking at just over £6k each so I tend to just carry on like it’s not there, best way really.
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#8
Just a quick update - separation agreement has been paid for and drafted so finances will be sorted next week. Will walk away debt free and own my car, be great to get on with my life. I can now focus on obtaining my CAO and move forward. Smile
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