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Stuart J
Stuart J, Solicitor
Category: UK Property Law
Satisfied Customers: 22620
Experience:  PGD Law. 20 years legal profession, 6 as partner in High Street practice
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Hello I have received a letter informing me that a property

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Hello I have received a letter informing me that a property that I co-owned back in 1988 but signed over the deeds and mortgage to, but not the endowment policy. I have not contributed in monetary terms but now the policy is due to be paid out and it would seem I am still a named beneficiary. Where do I stand.Thank you. Lee Howard

Hello, I am Law Denning and I am a practising solicitor in a High
Street practice. I have been an expert on this website in UK law since 2008.
During that time, as you appreciate, I have answered thousands of questions
from satisfied users on a variety of subjects.
Because we are all in practice with clients and court and other
users, I might not always respond in
minutes, particularly evenings and weekends. Please bear with me in that

It is my pleasure to try and assist you with this today. Please bear with me
while I gather some further information from you in order for me to be able to advise you fully.

Do you have a specific question?
Customer: replied 4 years ago.

I suppose simply put, am I entitled to an endowment policy pay out where I am named as a beneficary but have not contributed any funds. Thank you. Lee

Customer: replied 4 years ago.
Relist: Other.
no reply

Is the other policy owner still alive? E x wife? We need full background please because the facts appear to be incomplete. Thanks


Customer: replied 4 years ago.

Yes the other policy holder is alive (ex girlfriend) and her solicitors have sent me a deed of assignment to sign giving up all rights to the policy. Thanks Lee

Thanks. How much did she pay in, how much did you pay in? Over how long?


Customer: replied 4 years ago.

25 year policy, I only contributed for one year, and in cash so no proof of any contributions. Thanks Lee .

You may entitled to
something. Your contributions were in for 25 years whereas her contributions
were in for 25 years, going down to literally, the premium that was paid last

Assuming that she
continued to pay during the whole course of the policy and did not stop paying
at the end of the first year, and assuming that you paid 50% each for that
first year, it becomes a very complicated actuarial calculation as to what you
should each get from the policy. The cost of getting an actuary to evaluate
will probably be more than you are going to be arguing over.

Assuming all so
that there is no dispute that you did indeed contribute towards the policy then
if you contributed jointly in the first year, you contributed 1/50 of the
premiums but your 50th was in for the full period whereas her 49/50
was in for the whole period. My estimation therefore is that you are entitled
probably to about 2 or 3/50ths of the proceeds.

If I was acting for
your ex girlfriend however I would point out that in the first year of the
policy, all the contributions go towards setup costs and broker and salesmen
commissions and therefore you are entitled to nothing. There is therefore an
argument to be had but, as I said earlier, the cost of arguing is actually more
than you will be arguing over.

My suggestion would
be to write back to the solicitors and tell them that provided they will give
you proof that your ex has paid the premiums from when you split up until now,
and provided they give you an undertaking (there are undertaking, not her undertaking)
to give you some money when the policy is encash, you will sign the form. Tell
them you have done some very rough calculations based on that, you estimate
that you are entitled to 1/25 of the proceeds based upon your first year
contributions. That you will let them have the signed document provided they
give you the undertaking to pay you that sum, (not when they receive it but)
within 14 days of the policy being cashed in whether the refunds are received
by them or their client directly.

See what they come
back with.

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