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Ask Clare Your Own Question
Clare
Clare, Family Solicitor
Category: Family Law
Satisfied Customers: 34106
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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I received an inheritance 3 years ago and bought a buy to let

Customer Question

I received an inheritance 3 years ago and bought a buy to let house. My husband and I, however, live in rented accommodation elsewhere.
I have been married for 5 years, the marriage has never been good and is now breaking down. My husband has his own company which is failing and there is no money in it now and neither of us have any assets other than his 3 cars.
Would I have to sell and split the profits of my btl house should we 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.
Are there any children involved?
Clare
Customer: replied 2 years ago.

No children between us. He is 57 and I am 61

Expert:  Clare replied 2 years ago.
Hi
Just to check - how long have you actually lived together?
Clare
Customer: replied 2 years ago.

5 years

Customer: replied 2 years ago.

Where is my reply ?

Customer: replied 2 years ago.
Relist: Other.
She hasn't answered since this morning
Customer: replied 2 years ago.
Relist: No answer yet.
Customer: replied 2 years ago.

lived together 5 years

Customer: replied 2 years ago.
Relist: Other.
no answer
Customer: replied 2 years ago.
Relist: Answer quality.
Expert:  Clare replied 2 years ago.
Hi
My apologies for the delay - I was in Court all afternoon
Since this was an Inherited property and you have always kept it separate from any joint assets the court will see this as a separate asset rather than a joint asset.
This means that the court will not take account of it UNLESS it is necessary to meet the reasonable needs of your spouse.
Since this was a shortish relationship and you have always lived in rented accommodation there is no reason why your ex's housing needs would need to be met with a lump sum - so your property should be safe.
The only possible risk is that you could be ordered to pay him a modest lump sum via a small mortgage on the property.
You should try and negotiate with your ex using Family Mediation
www.familymediationhelpline.co.uk
Please ask if you need further details
Clare
Customer: replied 2 years ago.

Thank you Claire - it was worth the wait to hear that !

Just one more query - your first sentence suggests that the property was an inherited property. I inherited monies in the second year of our marriage which I used to buy the property and it is in my name only - does that make a difference ?

Imogen

Expert:  Clare replied 2 years ago.
HI
No that does not change anything - the issue is that the money was never treated as joint funds.
Clare
Customer: replied 2 years ago.

Aaaaah - I've got it ! Thank you.....

Imogen