• Welcome to the LegalBeagles Consumer and Legal Forum.
    Please Register to get the most out of the forum. Registration is free and only needs a username and email address.
    REGISTER
    Please do not post your full name, reference numbers or any identifiable details on the forum.

Proceeds

Collapse
Loading...
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • Proceeds

    Many years ago I purchased a property and (naively) added my then girlfriend to the mortgage. After a couple of years we separated and I continued to pay the mortgage on my own. When she married I tried to have the mortgage changed to my name only but was unable to do so as I didn't have sufficient income to cover the mortgage on my own (although I was and had been paying the repayments on my own for some time. The Building Society wanted to be able to pursue her in the event of non payment. I even tried to re-mortgage but met with a similar outcome. So I continued to pay the mortgage even when 10 years later I became un-employed. My now wife helped pay the payments despite the financial hardship it put us through as a family. Eventually I was able to sell the property and the proceeds were equally split I was just able to cover the debts that had mounted up in the meantime ultimately coming away with nothing despite being the one who had paid the mortgage for 13 years.

    I had forgotten about the endowment that had been running during this time (I had stopped paying for the endowment when I put the house up for sale) and have now received a notification from the insurance company that the policy has now matured. I will need to provide identification to get my share which is 50% of the proceeds. Is there anyway I can contest the equal split of the proceeds as like the mortgage my former girlfriend hasn't paid towards the policy since she moved out?

    :tinysmile_cry_t:
    Tags: None

  • #2
    Re: Proceeds

    Make a good check of the endowment terms. I was in a similar situation with my first wife, I'd forgotten the endowment even existed, but it matured and the company came looking to pay it. It ended up I was the beneficiary, 100%. Did I give my ex wife a share ? Nahhh.

    Comment


    • #3
      Re: Proceeds

      Originally posted by ostell View Post
      Make a good check of the endowment terms. I was in a similar situation with my first wife, I'd forgotten the endowment even existed, but it matured and the company came looking to pay it. It ended up I was the beneficiary, 100%. Did I give my ex wife a share ? Nahhh.
      Unfortunately it states 50% on the letter from the insurance company.

      Comment

      View our Terms and Conditions

      LegalBeagles Group uses cookies to enhance your browsing experience and to create a secure and effective website. By using this website, you are consenting to such use.To find out more and learn how to manage cookies please read our Cookie and Privacy Policy.

      If you would like to opt in, or out, of receiving news and marketing from LegalBeagles Group Ltd you can amend your settings at any time here.


      If you would like to cancel your registration please Contact Us. We will delete your user details on request, however, any previously posted user content will remain on the site with your username removed and 'Guest' inserted.
      Working...
      X