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Harris
Harris, Family Law Expert
Category: Family Law
Satisfied Customers: 2536
Experience:  Family Law - Specialist in Divorce, Financial Relief and Children Matters
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I need some advice about my home situation. I am 70

Resolved Question:

Hello, I need some advice about my home situation. I am 70 years old and married my second husband 18 years since. I had a house with a small mortgage of approx 30,000 which was due to be paid when I was 60 years old when I met him ,he moved in with me and we moved house after2 years with a mortgage between us which we still have but is £100,000 with approx 20,000 equity. One year ago my husbands mother died and his father has lived with us since. He is 94 years old and owns his own house which is willed to my husband on hid death. My husband is presently redecorating his fathers house to move back with him before his death and leave me ,to put this house up for sale and wants half the equity. He feels that if we are divorced quickly he would have a house ( his inheritance) plus half of the equity from our home which he insists must be sold. I will have nowhere to live, can he do this to me. I don't know where I stand. Ps my husband is 15 years younger than me, things are very difficult between us. Could you please advise me. Many thanks
Submitted: 1 year ago.
Category: Family Law
Expert:  Harris replied 1 year ago.
Hi, thanks for your question.
As part of the divorce there will have to be a financial settlement which is fair and meets both of your needs (as well as the needs of any dependant children - which you have not stated). The court will consider the following criteria when deciding on what settlement should be awarded or approved:
1. The income, earning capacity, property and other financial resources which each of the parties to the marriage has or is likely to have in the foreseeable future, including in the case of earning capacity any increase in that capacity which it would, in the opinion of the Court, be reasonable to expect a party to the marriage to take steps to acquire;
2. The financial needs, obligations and responsibilities which each of the parties to the marriage has or is likely to have in the foreseeable future;
3. The standard of living enjoyed by the family before the breakdown of the marriage;
4. The age of each party to the marriage and the duration of the marriage;
5. Any physical or mental disability of either of the parties to the marriage;
6. The contributions which each of the parties has made or is likely in the foreseeable future to make to the welfare of the family, including any contribution by looking after the home or caring for the family;
7. The conduct of each of the parties, if that conduct is such that it would, in the opinion of the Court, be inequitable to disregard it;
8. In the case of proceedings for divorce or nullity of marriage, the value to each of the parties to the marriage of any benefit which, by reason of the dissolution or annulment of the marriage, that party will lose the chance of acquiring (e.g. a right to your husband’s pensions).
As part of the financial settlement the court would want to ensure that both of you are housed and can maintain your standard of living. It is therefore not a certainty that the court would agree that the matrimonial home should be split equally between you. Are there any other assets that you both have? If not, the court would likely bring his inheritance (once received) into the matrimonial assets so that both your needs can be met.
Please let me know if you have any further questions regarding this.
Expert:  Clare replied 1 year ago.
HiThank you for your questionMy name is ***** ***** I have been a family lawyer for more than 30 yearsIn order to give you a more specific idea about your position we need to know how much your previous house was worth and how much was outstanding on the mortgage.How much would a suitable one bedroom property in the same area cost to buy?
Expert:  Harris replied 1 year ago.
Hi, this question remains open. If you found my information provided helpful please could you rate my response positively as I will not be credited for my response without a rating.
Harris, Family Law Expert
Category: Family Law
Satisfied Customers: 2536
Experience: Family Law - Specialist in Divorce, Financial Relief and Children Matters
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