Repossession after split : LUSENET : Repossession : One Thread

In March '93 my ex-partner and I purchased a house on a shared ownership scheme, we took out a #23,000 mortgage on a #48,000 house. Our relationship ended in March 1996 and I moved out. He agreed to live in the house and keep up the mortgage payments. I agreed to sign over the house to him but he lost his job and the mortgage fell into arrears. I was assured that he would soon be working again and would pay off the arrears and the house could be signed over. Twelve months later I discovered that he had vacated the house and relocated to take up new employment, none of the arrears had been paid off and a repossession order had been actioned on the property. My ex has since refused to take my calls or answer my letters. The house has now been repossessed and is in the throws of being sold to a buyer. I estimate the shortfall to be arround #5000. I have found out that my ex has lost his new job and has relocated again. I have no idea where he is now, except for a rumour that he has moved to Europe. An endowment policy exists which is worth #1500. My questions are: a. Will I now be responsible for the whole of the downfall if my ex cannot be found, or is not working? I have a reasonable income but am planning to start a family. b. Will the third party of the shared ownership be entitled to #24,000 they contributed to the house purchase, or just half of the selling price? c. How do I cash in the endwoment policy without my ex-partners signature? d. Can they take my car worth #3000 to pay the shortfall? I would be grateful of any advice.

Many thanks, Sharon.

-- Sharon Barnet (, June 27, 1999

Moderation questions? read the FAQ