Co-Ownership of Property with Ex

Meow_35

Without going into too much detail publicly - is anyone currently in any kind of situation where they co-own a property with their ex? My situation at the moment is my ex is residing in the propery with one other tenant. We have never put any kind of agreement in writing as far as covering any kind of expenses, mortgage payments etc. He currrently covers anything the rent collected from the tenant doesn't. Things have been pretty amicable, for the most part. We're now in a situation where I am never planning on living in the property and am in a new relationship now, currently renting another propery. He has no long term wish to continue living there either, we basically both just want to move on and the propery is like a noose around both our necks. At the moment - the tenant is obviously c overing part of the mortgage, a fairly small chunk and my ex is covering the rest including house insurance and the life assurance. We never agreed that I would contribute anything towards the mortgage or any other expenses - in fact over the years both when we were together and then more recently last summer - I have invested approx 15,000 into the property - new floors, new blinds, new heating system, new carpet, paint, furniture etc.
The house is in negative equity so selling it isn't the best option at the moment. Ideally I would like to sell, even it meant having to take out a seperate joint loan to cover any part of the mortgage proceeds from the sale wouldn't cover. Our only other option is to rent the entire propery whether it be through an agent or on daft etc.

One of the problems is, the house needs a lot of work. Basic maintenance hasn't really been done. In my opinion things that should have been looked after by my ex while residing in the house. Certain things that need to be looked after at the moment are insulation, perhaps improving the electrics (they're quite old), new gable, new paint job inside and out, trees to be cut down out back and a few other bits and bobs.

My problem is i don't want to invest more money into the property unless we're either planning on renting or selling. After having a heated discussion with my ex recently he feels I should have been contributing all along to the mortgage, house insurance, life assurance and that any kind of repairs, maintenance etc that needs to be done should be split 50/50. Part of me does agree with this and that's not the issue. The issue is we're kind of at a standstill at the moment as to what to do. Improving the place and doing all of these repairs will cost money that i know I really don't have. ideally I'd like to sell.

So, i'm basically just looking for some good general advice. I think there have to be people out there going through a similar situation and I'm curious what solutions others have come up with.

So, if you would like to give me some good, sound advice please get in touch. I am willing to go into more details privately.

Marcusm

You should agree a realistic rental value for the house and he should contribute the appropriate portion of that - 1/2 if one other tenant, 1/3 if two and so on. The balance of the costs shoud be split 5/50. New wiring, new gable etc are not the responsibility of the occupier so hard to see why he should pay for all.

Meow_35

Marcusm wrote: »

You should agree a realistic rental value for the house and he should contribute the appropriate portion of that - 1/2 if one other tenant, 1/3 if two and so on. The balance of the costs shoud be split 5/50. New wiring, new gable etc are not the responsibility of the occupier so hard to see why he should pay for all.

Thanks for ur reply, that all makes sense