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Joint ownership

Posted by Mark1234 
Joint ownership
January 22, 2021 02:28PM
Trying to get through a divorce without a solicitor. We've been married for about 4 years. When we met I had a house worth about £400 000 that I owned outright. Two years ago she said that she wanted to move to be closer to her parents so we did, buying a house of similar value. I signed over half the value of the new house to her and we became joint owners. About a year later she decided that she wanted a divorce. What I'm wondering is am I at risk of losing £200 000 or some chunk of money like that?! If anyone has any opinions I'd be very grateful.
Re: Joint ownership
January 22, 2021 04:16PM
You are at such risk, yes. Not only is it the matrimonial home but you would have to explain why you put the property in joint names if you did not intend it to be owned equally. That is not to say that you cannot argue that you should have a greater share because of who put what into the property but you will have an uphill struggle on your hands. If it was intended that the property should have been owned unequally it would have been a relatively simple thing to have had a deed of trust to that effect. It is true that such a deed of trust would carry limited weight upon divorce but at least there would have been some sort of evidence of intention. As it is you face explaining why it was put into joint names if you did not intend it to be owned equally. This could, of course, all have been planned by your wife.
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