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Clare
Clare, Family Solicitor
Category: Family Law
Satisfied Customers: 34105
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 are planning to separate, in which case we

Resolved Question:

My husband and I are planning to separate, in which case we will have to sell our house. When we bought it, I put in over £140k capital (from 2 other properties) but my husband nothing. From the proceeds of the sale, am I entitled to take an extra £140k or by law, would it be a 50:50 split?
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 the house worth and how much is outstanding on the mortgage?
What other assets and debts are there and what income do you each have?
Clare
Customer: replied 2 years ago.

We have lived together since 2001. Married in 2002. 2 children.

the house is currently worth (conservatively) about 1m - we are just about to do a loft conversion, which will probably add about £150k, so lets say it will be worth 1.15m, maybe 1.2m.

The mortgage is £550k

There are no other assets or debts.

Kind regards,

Emma

Expert:  Clare replied 2 years ago.
Hi
How old are the children and how will you share their care between you?
Clare
Customer: replied 2 years ago.

the children are 8 and 10 and will live with me but the split should be amicable so regular access / time spent with dad.

Emma

Expert:  Clare replied 2 years ago.
Hi
How much will you need to rehouse yourself and the children?
Clare
Customer: replied 2 years ago.

I really have no idea

Emma

Expert:  Clare replied 2 years ago.
Hi
It is a crucial point - so best guess?
Clare
Customer: replied 2 years ago.

Impossible to rehouse us in this area (i.e. for continuation of schooling) for less than £700k (that would be a 2 bedroom flat!).

Emma

Expert:  Clare replied 2 years ago.
Hi
The family court has wide powers to redistribute family assets in any way that they feel fit - no matter whose name they are in or how they were funded
It is the housing needs of the children which take priority so far as the family court is concerned - and if this means that you have to receive a larger share of the equity then this is what will happen
Even if this is not required the fact that you brought the capital to the relationship and will have the ongoing care of the children is likely to secure you a larger share of the equity in any event
I hope that this is of assistance
Clare
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