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Clare
Clare, Family Solicitor
Category: Family Law
Satisfied Customers: 33532
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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Been married 3 years. Now separating from my wife. No marital

Resolved Question:

Been married 3 years. Now separating from my wife. No marital home, we live in rented accommodation.
I have an investment property bought in my name 10 years prior to getting married, the income from which has never been used to support the marriage nor ever been transferred to a joint account.
Would my spouse have any legal entitlement upon divorce? Do I risk losing this property if we decide to divorce?
And would her signature on a disclaimer deed protect my interest in this property?
Thanks
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 actually lived together and are there any children involved?
What income do you each have and what is the equity in this property?
Clare
Customer: replied 2 years ago.
We have actually lived together for 2 years and 10 months and have been separated for six and half months when she went to her family abroad. Now she is back in England and we have agreed to divorce. We have no children. I intend to help her settle in a job and give her a lumpsum within my affordability ..The equity in my flat is around £300,000 at recent market price .. I am servicing a repayment mortgage of £200,000 from the rent.She is temping at the moment earning £10 per hour and now looking for a permanent job. I earn between 30/40 k p a depending on commission.Thanks for your help
Expert:  Clare replied 2 years ago.
Hi
Does she need to retain at all and how much were you thinking of giving her?
Clare
Customer: replied 2 years ago.
At the moment I am helping her to get a full time job and to stay in the rented flat till the end of the tenancy agreement with me paying the rent for another 8 months. i shall move to my parents home while she looks for a cheaper accommodation or my be decide to return back to her country of origin.
i was saving for a deposit to buy a flat and have now £10,000 which I thought I would give her half of it£5000.
Expert:  Clare replied 2 years ago.
Hi
Yours is a relatively short relationship, and as such her financial claim on you is limited
Certainly paying the rent on the property for eight months should ensure that there is no need for spouse maintenance which would otherwise be a major issue
However I am afraid that the fact that you have this property does effect the capital settlement even though it has always been a separate asset.
Realistically you may need to offer the full £10,000 in settlement - as £5,000 is likely to be seen as too little should the matter go to court
You should try and negotiate a settlement using family mediation (www.familymediationhelpline.co.uk)
Unless there is a immediate divorce within which you can obtain a final financial order you will need to consider having a Separation Agreement drawn up setting out the financial arrangements between you that can later be changed into a final financial order.
I hope that this is of assistance - please ask if you need further details
Clare
Customer: replied 2 years ago.
Thank you for this information . Can you please explain what is a financial order and how can one obtain it..
Expert:  Clare replied 2 years ago.
Hi
Within divorce proceedings it is possible to have a Financial order setting out the financial arrangements - once that is sealed then no further claims can be made by either party
Clare
Clare, Family Solicitor
Category: Family Law
Satisfied Customers: 33532
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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