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Harris
Harris, Family Law Expert
Category: Family Law
Satisfied Customers: 2324
Experience:  Family Law - Specialist in Divorce, Financial Relief and Children Matters
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Recently my wife left me, we have a mortgage together, for

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Recently my wife left me, we have a mortgage together, for the past 5 months I have been paying the mortgage and all other household bills including paying for the cost of the pet foods and vet bills.
I had been in a previous relationship and had a house that was in my name, which I sold and used the profit to pay the deposit for the new house we had together.
Whilst together we amounted a debt of around £53000 by extending the house, we remortgaged the house and put the whole debt into the mortgage.
According to the lender the house is valued at £160,000 and the mortgage we have is approximately £123,000.
She seems happy for me to stay in the house as I have a child from my previous relationship and she takes responsibility for our breakup, she hasn't said anything about the house but just in case I just would like to know what are her rights to any monies in the house please?
Thanks
Submitted: 1 year ago.
Category: Family Law
Expert:  Harris replied 1 year ago.
Hi, thank you for your question. Just a bit more information required to give you a full answer: -Please confirm how long you have been married and if you have any children with your wife? -How old is your child (from previous relationship) and what are the arrangements for him/her to stay over with you?-What other assets do you both have?
Customer: replied 1 year ago.
Been married 5 years but in this property for 3 years, we have no children together and my child is 12 years old and stays with me every weekend. We have no other equity together.
Expert:  Harris replied 1 year ago.
How big is the property (bedroom wise)?In terms of assets, what sole assets do you both have?
Customer: replied 1 year ago.
3 bedrooms and the only sole assets we have are our cars I suppose
Expert:  Harris replied 1 year ago.
Thanks. Given that it was the former matrimonial home and it is in joint names she has both a legal interest and a right to occupy the property. However, she has now chosen to leave the home so will likely find it difficult to return to occupy. In relation to obtaining equity out of it, given that it is a relatively short marriage with no children the court will likely feel that a 50-50 split of the equity is appropriate, but given that you have a 12 year old child who stays over with you, you could argue that it is necessary to stay in the property until he finishes education so that you can suitably house your child when he/she is in your care. She does have an argument, if she intended to pursue a court application, that a 3 bedroom property is not required and a 2 bedroom property is more appropriate, and it is likely that a court will agree that the current accommodation is not required to maintain your contact with your child. For your information, the court looks at the criteria below when deciding how to divide assets and make financial orders in relation to divorce settlements, with a starting point of a 50-50 split of all matrimonial assets and ensuring that both your needs are met in relation to both assets and income. The criteria considered is: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.I hope this clarifies matters. Please provide a positive rating if you found this helpful. I will not be credited for answering your question without a positive rating. Thank you
Harris, Family Law Expert
Category: Family Law
Satisfied Customers: 2324
Experience: Family Law - Specialist in Divorce, Financial Relief and Children Matters
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