Cryptic crossword clue
Live alongside former lover on island, splitting expenses

The most common and most likely answer to this crossword clue is the 7 letter word COEXIST

I've seen this crossword clue in The Guardian
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Buddy explains!

The straight part
We know that "Live alongside" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case live alongside = coexist.
The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.
This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.

What does COEXIST mean?

COEXIST verb
  1. (of two or more things, people, concepts, etc.) To exist contemporaneously or in the same area.

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