It's pretty complex because he has a property business, but I'll try my best.
1. An apartment in Cardiff which he bought before we were together, solely in his name, valued now at about £150 000, probably £50k equity. We lived there for about 3 years and went halves on mortgage and bills.
2. An apartment in London which he bought when we were together but not married, solely in his name, probably worth about £400k with £200k equity. We lived there for 18 months, I contributed to bills.
3. Our married home which we bought a year ago, worth about £280k, has £100k equity. Purchased solely in my name, just me on the mortgage but with a deed of trust to say we are joint owners and to protect the extra £50k he put in (we also put in £30k each).
4. Then he has 12-15 cheap (£60-80k) properties, some purchased with a business partber, most under a business which he bought since we were together. |These all have mortgages.
5. He has a car loan for about £9k
6. I have £20k in savings.
My income is currently £22k, his is harder to know because he's a landlord and it fluctuates
I have put £30k into our married home, he has put £80K into it, plus the deposits on the Cardiff and London apartments (£30k each??)
Is there no simple rule about things being halved in marriage, are incomes/capital taken into account etc?
Gosh, no idea. I think he gets about £70k rent pre year, but that's before taking out mortgages and expenses. I don't really want half of the business, I would just like half of the married home without the ring fenced £50k being taken out but I don't know what the law is on dividing assests in married couples.
So if I understand correctly, the starting point would be that I would possibly be entitled to half of the apartments in London and Cardiff, even thought the deeds are just in his name.
This is also true for our married home, despite the DoT.
I do not want to 'go after' half the apartments but knowing I'm entitled to them gives me leverage to negotiate on having half the married home if I don't claim anything else.
And if I understand correctly, me moving out temporarily would not affect my right to buy him out of his half of the married home, if I chose to do so (and no less entitlement to be the one who stays?)
Ok, thank you. I'm a bit puzzled why we had the DoT then, it sounds like it doesn't count for anything?
Last question, do you think it would be reasonable for me to try and negotiate getting half the house (whether we sell it or buy each other out) out of court in a separation agreement in exchange for not pursuing anything else?
(I may be selling myself short but I'm trying to balance my finances with my morals and not having to go to court).