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Clare
Clare, Family Solicitor
Category: Family Law
Satisfied Customers: 33509
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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Hi, my ex husband and I have been seperated for over 3 years

Resolved Question:

Hi, my ex husband and I have been seperated for over 3 years now and he is asking for divorce.
We have two properties one in the UK and one in Europe. The value of the property abroad has fallen since it was bought and my ex is asking for half of the value to be a bigger share than what is currently worth, saying he invested more.
If I dont agree he stills wants the divorce but is saying he dosent want to sell his share of the proeprerty abroad. I do not wnat to sell it to him or anyone else and also want the divorce and financial settlement to be the final agreement.
What are my rights? Is he entitled to more than half of the current value and can he refuse to let me buy him out as part of the divorce?
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 did you live together and are there any children involved?
What are all the assets worth and what income do you each have?
clare
Customer: replied 2 years ago.

We were togther for 20 years. Both came to the relationship with the same, so equal values. There are two kids involved responsibility is 50/50.

We both work full time, I do not know what his earnings are now but do know he had earned slightly more than me at the time of seperation.

Expert:  Clare replied 2 years ago.
Hi
What are the houses actually worth and what other assets are there.
Who currently lives where?
Clare
Customer: replied 2 years ago.

Total value is 280K. There are no other joint assets.

I live in the UK house and the other property is rented out. My ex is renting elsewhere

Expert:  Clare replied 2 years ago.
Hi
How much is each property worth?
Clare
Customer: replied 2 years ago.
Hi, the UK house is 250k and the other property is 30k
Thanks!
Expert:  Clare replied 2 years ago.
Hi
Are there mortgages on either property and what settlement are you seeking?
Clare
Customer: replied 2 years ago.
Hi, there is a mortgage of 90k, it's in joint names.
I am seeking to buy him out at 50% of current value of both properties.
Thanks
Expert:  Clare replied 2 years ago.
Hi
How much is he asking for?
Clare
Customer: replied 2 years ago.
Hi, 155k
Expert:  Clare replied 2 years ago.
Hi
Just to check - is the £250,000 figure before or after allowing for the mortgage?
Clare
Customer: replied 2 years ago.
Hi this is before current mortgage
Thanks
Expert:  Clare replied 2 years ago.
Hi
So the combined assets are in fact £190,000 and he is looking to receive more than 80% of that?
Clare
Customer: replied 2 years ago.
Hi yes that's correct. It's all based on him wanting more than the current market value for the property abroad. Otherwise he dosent want to sell his share of that but I dont want to continue shared ownership after divorce and I don't want to sell my share if it to him I want to keep it.
Expert:  Clare replied 2 years ago.
Hi
Can you raise the £95,000 AND get him released from the mortgage?
Clare
Customer: replied 2 years ago.
Hi yes I can raise it but he is saying he won't sell his half if the house abroad for half of current value as he invested more originally as the market was stronger then.
He wants to force the divorce and be joint owners in that house still until the market there recovers. I have said if we divorce now it's all or nothing in terms of financial split. I don't want to be in a position of trying to raise more funds to buy him out again further down the line. He thinks he is entitled to more than 50% of current value as he invested more
Expert:  Clare replied 2 years ago.
Hi
Is there any reason why you do not wish to have a divorce now?
Clare
Customer: replied 2 years ago.
Hi Clare, I'm not in any rush to divorce it dosent really matter to me if it's now or somewhere down the line but he wants the divorce and is pushing. The relationship is over and there's no going back I'm just not in a rush to make it formal.
What I need to know is what is he entitled to, my thoughts are he is entitled to 50% of current values on both, is this right? Also if a divorce happens can he pick and choose or can I insist that it's full financial settlement and split at the point of divorce? This is all I need to understand
Thanks
Expert:  Clare replied 2 years ago.
Hi
Actually it is in your interests for the divorce to start on the grounds that you have been separated for two years and you both agree to it - especially if he is paying for it.
Within the divorce proceedings you can if necessary make an application to the family court for the financial issues to be dealt with.
This will mean that if no agreement can be reached then the court will impose a settlement - and the worst case scenario (from your point of view) will be a 50/50 split based on current values - which you are more than happy to offer.
I hope that this is of assistance - please ask if you need further details
Clare
Clare, Family Solicitor
Category: Family Law
Satisfied Customers: 33509
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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