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Ask Clare Your Own Question

Clare
Clare, Family Solicitor
Category: Family Law
Satisfied Customers: 33325
Experience:  I have been a solicitor in High Street Practise since 1985 and have specialised in Family Law for the last 10 years
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Me and my wife bought a house out right I put 115.000. My wife

Customer Question

Me and my wife bought a house out right I put 115.000. My wife put 60 on the house we lived in the house for seven years I paied all bills (utility bills etc)
We had a daughter but recently we have separated I live in the house at the moment she is wanting me to sell house or pay her half the value of the house. I earn a low income not sure want to do and where I stand please can you help .
Submitted: 2 years ago.
Category: Family Law
Expert:  Clare replied 2 years ago.
Hi
Thank you for your question.
My name is Clare
I will do my best to help you but I need some further information first.
How much is the house worth now and how much is outstanding on the mortgage
How long have you lived together and who does the child live with
Clare
Customer: replied 2 years ago.
House is worth 120.0000 outstanding mortgage is zero the child lives with her mother we lived together for about 7 years
Expert:  Clare replied 2 years ago.
Hi
How much can you raise on a. Mortgage?
Clare
Customer: replied 2 years ago.
Roughly about 60 thousand
Expert:  Clare replied 2 years ago.
Hi
May I ask why the house has reduced in value so much - it appears that you put £175,000 in altogether?
Clare
Customer: replied 2 years ago.
I have no idea why Maybe the currant market value I don't realy know
Expert:  Clare replied 2 years ago.
Hi
Is there going to be a divorce?
This is important in deciding how to protect you once the payment has been made?
Clare
Customer: replied 2 years ago.
Yes
Expert:  Clare replied 2 years ago.
Hi
The Starting point for division of the equity is 50/50
I appreciate that you brought more capital to the relationship but the fact that there is a young child involved makes a 50/50 split almost certain despite this.
However you should not agree to this unless and until there is a Court Order within the Divorce proceedings stating that the payment is made in Full and Final settlement of all her claims.
I hope that this is of assistance - please ask if you need further details
Clare

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