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Clare
Clare, Family Solicitor
Category: Family Law
Satisfied Customers: 33494
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 is divorcing me.....we have 1 home worth £400,000

Resolved Question:

my husband is divorcing me.....we have 1 home worth £400,000 plus and a family business
I am hoping ot keep both but need advice on my rights and financially if i can do this please
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 long have you lived together and are there any children involved?
How much is outstanding on the mortgage?
How much is the business worth
What other assets and debts are there and what income do you each have?
Clare
Customer: replied 2 years ago.

we have been together 34 years marries 26


1 child the age of 17


the house is worth £400,000 plus with £60,000 to pay


the business is worth £170,000 with £98,000 left to pay


No debts and trying to be amicable but I want to keep my livelihood.....the shop.....I don't earn much £1000 as obviously the rest goes into the business which over the years has paid for his cars etc

Expert:  Clare replied 2 years ago.
Hi
What income does he have and how much does a two bedroom property in the same general area cost to buy?
Clare
Customer: replied 2 years ago.

He is on £40,000 plus commision......I earn £1000 a month.....


the house are worht in the region of £400,000- £450,000......ours is one of the nicer ones

Expert:  Clare replied 2 years ago.
Hi
How much would a cheaper smaller property cost to buy?
Clare
Customer: replied 2 years ago.

I live in London......my business is 100 yards away and i am self employed......I am not particularly wanting to leave my family home considering he wishes to divorce me

Expert:  Clare replied 2 years ago.
Hi
When will your child turn 18?
Clare
Customer: replied 2 years ago.

Decemeber the 7th this year


What I want to know is my 'rights' although he has grounds for divorce.....I do to.......but do not to get nasty to be honest


But i want ot keep my business.....I am self employed and it is my livelihood

Expert:  Clare replied 2 years ago.
Hi
i am afraid that if your husband is determined to separate then there is little that you can do to stop it.
You can certainly take action to delay any divorce - but the division of the finances will have to happen at some point and starting whilst he still feels some guilt is often worthwhile
The starting point for the division of all the assets is 50/50 and I am afraid that there is no basis on which you will be bale to keep both the home and the business
keeping the business will not be difficult since it gives you an income - and you could if you wished "trade" his share of it for your claim for spouse maintenance
However it will be difficult to argue that the equity in the home should not be shared 50/50 between you UNLESS he has a substantial pension.
However he cannot force a sale before your youngest is 18.
You can negotiate matters using Family mediation (www.familymediationhelpline.co.uk)
I am sorry not to give you the news you want - please ask if you need further details
Clare
Clare, Family Solicitor
Category: Family Law
Satisfied Customers: 33494
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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