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Kasare
Kasare, Solicitor
Category: Family Law
Satisfied Customers: 204
Experience:  Solicitor, 10 yrs plus experience in civil litigation, employment and family law
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Can I change my mind over the division of equity in our family

Customer Question

Can I change my mind over the division of equity in our family home? I originally asked for only the money I put in at the start of our financial relationship. I have since realised I am not being realistic about how I can support my family. We are not divorced yet, there is no clean break order in place, however the house has been sold and equity divided 1/3 to me 2/3 to him. We have 2 children and they live with me 70% and him 30%. Can I still challenge the split to make it 50/50? We jointly owned the home. 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.
Has a Court Order been sealed by the court?
Clare
Customer: replied 2 years ago.

No we have agreed the terms between us, I have agreed to the division of equity by personal email to him.

Expert:  Clare replied 2 years ago.
Hi
How long have you lived together and how old are the children?
How much is the house worth and how much is outstanding on the mortgage?
What other assets are there and what income do you each have?
Clare
Customer: replied 2 years ago.

We have lived together for 8 years, our children are 3 and 6, the house sold for £455,000, outstanding mortgage was £235,000, however this was offset with a £90,000 saving account. I have a buy to let property in my name with approx £20,000 equity. We both earn approx £25,000 a year, however he is self employed, I suspect he earns more than this but his tax returns won't show this. The house is sold after fees there was £303,000, he has paid me £100,000 as a full and final settlement. He also pays me know child support, I am responsible for nursery fees of £280 per month.

Expert:  Clare replied 2 years ago.
Hi
How much will a cheaper three bedroom property in the same school area cost to buy?
Clare
Customer: replied 2 years ago.

About £170,000

Expert:  Clare replied 2 years ago.
Hi
has he purchased another property?
Are you willing to start divorce proceedings?
What is your mortgage capacity?
Clare
Customer: replied 2 years ago.

We are both living in rented accomodation. I have started divorce proceedings against him, it is at the application of decree nisi stage. I would be able to get a mortgage of £60,000 -£100, 000 potentially, depending on size of deposit.

Expert:  Clare replied 2 years ago.
Hi
So how much extra do you need to rehouse yourself and the children?
Clare
Customer: replied 2 years ago.

£70,000 - £110,000

Expert:  Clare replied 2 years ago.
Hi
Did you have any legal advice on this settlement?
Clare
Customer: replied 2 years ago.

No, ex now wants a clean break order in place so I am considering seeing a solicitor to check the division of equity is fair before I agree and sign anything.

Expert:  Clare replied 2 years ago.
Hi
Sorry -are you saying he does not pay child maintenance - if so what steps have you taken regarding this?
Clare
Customer: replied 2 years ago.

As we earn similar amounts but I keep the tax credits and child benefits and we have a 30/70 split, didn't think I would be entitled to any

Expert:  Clare replied 2 years ago.
Hi
How is the child care actually shared between you?
Clare
Customer: replied 2 years ago.

He has them 144 nights plus 1/2 school holidays. I have them the rest of the time.

Expert:  Clare replied 2 years ago.
Hi
That would be more than half of the year - or did you mean 144 nights including half the school holidays?
Clare

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