Hi,
I would really appreciate any thoughts on our situation please. So my husband is purchasing a property, just waiting for an exchange date, so completion expected July 2017. He disposed of his interest in his previous marital home in 2013 and has rented since this.
I also have a previous marital home, which is still jointly owned by myself and my ex-husband, we've had to keep it as its in negative equity. This property has been rented out until around 12 months ago when my husband and I moved back in to save the money for the deposit for the new purchase.
So my questions are as follows....
Does the disposal of my husbands previous property count in the replacement of a main residence? (Despite the fact we are living in my property)
If not...
How is the value of my property determined? The market value is approx. £80k of which I own 50% so my share is about £40k. Should I get it valued to prove this? I'm guessing that values quoted from estate agents would be approx. £75 - £85k the house opposite recently sold for £80k but it has 3 bedrooms and mine has 2. I'm just a bit worried to rely on the value as its so close to the maximum.
The property we currently live in, may go back to being a rental, but will probably be sold once my husband has renovated the new property.
Any advice appreciated!
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