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Ask Clare Your Own Question
Clare
Clare, Family Solicitor
Category: Family Law
Satisfied Customers: 34276
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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My husband and I lived together for 25 years in a house that

Resolved Question:

My husband and I lived together for 25 years in a house that was inherited by my husband.
This house is now worth £400,00 including a shop that is rented out and in both our names.
I left my husband one year ago and my question is:-
What am I entitled to Financially and where do I stand Legally?
Submitted: 3 years ago.
Category: Family Law
Expert:  Clare replied 3 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.
What other assets and debts are there and what income do you each have?
Are there any children involved?
Clare
Customer: replied 3 years ago.

Hi


There are no debts and no children involved.


He has about about £40,000 in units trusts and peps isas.


He has an annual income approx. £20,000 + £5,000 rent from the shop


I have annual income of approx. £2,000 + £5,000 rent from the shop

Expert:  Clare replied 3 years ago.
Hi
How much does a two bedroom property in the same general area cost to buy?
How much is the shop worth?
Clare
Customer: replied 3 years ago.

Hi


 


Two bedroom property would be around £260,000 and the shop is part of the house and included in the value of the house at around £400,000



Ann

Expert:  Clare replied 3 years ago.
Hi
May I ask how old you both are?
Clare
Customer: replied 3 years ago.

Hi


 


He is 57 and I am 59 years old


 


Ann

Expert:  Clare replied 3 years ago.
Hi
How much would a one bedroom property cost?
Clare
Customer: replied 3 years ago.

Hi


Around £190,000


Ann

Expert:  Clare replied 3 years ago.
Hi
The Starting point for division of all the assets on divorce is 50/50.
The fact that the property was inherited does mean that the your ex can argue that he should have more - but the court will only consider that once your reasonable housing needs have been met - and you clearly need £200,000 in order to rehouse yourself
You may also be entitled to spouse maintenance but this is something that the court could decide was settled by your receiving half of the assets
I hope that this is of assistance - please ask if you need further details
Clare
Clare and other Family Law Specialists are ready to help you