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ukfamilysolicitor
ukfamilysolicitor, Family Solicitor
Category: Family Law
Satisfied Customers: 734
Experience:  Divorce, Finances, Children, Domestic Violence, Care Proceedings
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What would the courts say about the matrimonial home that was

Customer Question

What would the courts say about the matrimonial home that was bought with the wife's money, upon the event of a divorce. The husband has not contributed any equity into the property. The couple have a joint mortgage on the house, however but for the wife's money, purchase of such a house would not be possible. Would the court make the wife sell the house in order to give some of the equity to the husband so that he could buy somewhere after the divorce? Or will the husband have to rent?
The couple have one child, who is 3 years old
Submitted: 1 year ago.
Category: Family Law
Expert:  ukfamilysolicitor replied 1 year ago.
Hello
Welcome to Just Answer
Thank you for your question.
I am a Solicitor and will assist you.
Despite the fact the one party may not have contributed they would still have a claim in respect of the matrimonial finances when you are legally married.
In relation to the matrimonial finances - The correct process for dealing with the matrimonial finances and division is to go through a process known as full and frank financial disclosure. Yourself and your spouse need to exchange full details of all assets ( including pensions) and liabilities before negotiations take place in relation to settlement. Everything is included in disclosure.
The normal rule for division is 50/50 however the matrimonial causes act sets out factors which could lead to a departure from this rule. A few examples are the likely earning capacity of both of you for the future, health needs, future care of children etc
The court will also consider the housing needs of children.
A marriage less than 5 years is considered a short marriage and if this applies you could argue that your spouse should receive less.
You should consider making a referral to a specialist mediation service. They can assist in relation to the process of disclosure and also in relation to negotiations about division. One such mediation service is the National Family Mediation service. www.nfm.org.uk
If agreement cannot be reached then an application would need to be made to the court. You can not make an application to the court until you have at least attempted mediation first.
You could argue that the house should not be sold and the husband receives his share until a certain event such as your daughter finishing education - if you can't agree to or afford to buy him out now. Courts can order sales if there is sufficient equity to downsize.
It is very important that no division of any assets takes place until a court order is obtained.
If division is agreed without the need to apply to court then you should submit a consent order for Judicial approval prior to division and obtaining decree absolute. Not doing so could leave you open for a future claim. A Solicitor can help you draft the Consent Order to protect your position for the future.
Kind Regards
Caroline
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Expert:  ukfamilysolicitor replied 1 year ago.
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