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ukfamilysolicitor
ukfamilysolicitor, Family Solicitor
Category: Family Law
Satisfied Customers: 757
Experience:  Divorce, Finances, Children, Domestic Violence, Care Proceedings
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My Husband of 13 years and I separated 6 months ago. The house

Customer Question

My Husband of 13 years and I separated 6 months ago. The house is in sole ownership to me as of last July due to getting a new mortgage which was not attainable in joint names due to his level of debt and defaults. I have 3 children under the age of 18 who live with me at home. He want 50 % of the house if and when I decide to move and will not agree to go through divorce proceedings with out this commitment. Where do I stand is he and will he be entitled to 50%?
Thanks
Submitted: 1 year ago.
Category: Family Law
Expert:  ukfamilysolicitor replied 1 year ago.
HelloWelcome to Just AnswerI am a Solicitor and will assist you today.Please may I ask:- have divorce proceedings commenced?
- how old are your children?
- are there any other matrimonial assets?
- what is the size of your home and what is the equity?
- what are the respective earning positions of you and your husband?
- would you say your husbands debt is matrimonial debt or his sole debt?Kind RegardsCaroline
Customer: replied 1 year ago.
Divorce proceedings have not started yet as I want to do my research first. My children are 12,10 and 7 ,We bought into a second property 8 years ago that he invested our savings with a friend to a property he rents out, yet he has not let me see any paperwork relating to this and I do not know how much he has pocketed to date. It is a flat and think the mortgage is just in his friends name due to him not having a property at the time. I have asked him for 8 years to get a contract to say we owned half but he did not want to do this as not to offend his friend.Our house is a 3/4 bedroom semi any has 90% equity its Woorth about £660000 and I soley have £67,000 mortgage.He gives me £150 mainteiance each week = £50 per childHe earns £35,000 and I earn £22,000 I am employed and he is CISHis debt is Sole and was mainly contributed by his own business venture with a partner of a property Business for 10 years which he walked out of 18 months ago and handed straight over to partner taking no assets of the company or him buying him out after an extensive client list. I think there is also more to his debt to but not cant confirm. My Father had to lend him £30,000 4 years ago for his company to keep is company going and stop repossession of our house due to company debts which he had put on a personal credit card.
Expert:  ukfamilysolicitor replied 1 year ago.
HelloThank you for your response.Please can I also ask:- what is the average price for a 3 bed property in your area?
- do either of you have pensions?Kind RegardsCaroline
Customer: replied 1 year ago.
Average price for a 3 bed is about £475,000 and I have a government works pensions for last 3 years he doesn't have one.
Expert:  ukfamilysolicitor replied 1 year ago.
HelloThank you for your further response.I will prepare a full answer for you now. This will take me about 10 minutes.Kind RegardsCaroline
Expert:  ukfamilysolicitor replied 1 year ago.
Hello
In respect of the matrimonial finances – there is a set process for dealing with the same.
Divorce proceedings and finances proceedings, whilst they do link together at points, are actually in fact separate proceedings and you should not be held to consider that you have to agree to giving your husband 50% of the equity in your matrimonial home – just so that he will agree to divorce.
The first step to dealing with the matrimonial finances is full and frank disclosure of all of the assets and liabilities for both of you. This includes everything and therefore your husband will have to provide you with details in respect of the 2nd investment property including its value and outstanding mortgage and any rental payments etc. It is only when full disclosure has taken place that discussions can start about division.
With a long marriage such as yours the normal starting point for the division of matrimonial assets is a 50/50 division of all assets. The Matrimonial Causes Act sets out several factors which can lead to departure of the 50/50. A few examples, the earning capacity for both of you for the future, future care of children. As you have detailed that he earns more than you and if you are going to be undertaking the lions share of child care then you should not be settling at a 50/50 split. You should be arguing a 10-20% increase on the 50/50.
As there is significant equity in your property then it may well be that your husband could successfully argue that the housing needs of you and the children can be met by downsizing. It could also be that he may want to keep his 2nd property and offset further against the equity in the home so that you can stay where you are with the children. These are all possibilities – but you will not even be able to start discussions until your husband has engaged in full and frank disclosure. If this does not happen then you are simply selling yourself short.
I would suggest that you consider referring your case to family mediation. Family mediation will help both you and your husband through the process of full and frank disclosure as well as discussions about division.
That are lots of family mediation services and there will be one local to you. If you just google family mediation in your area and then you can give them a call to get the ball rolling.
If your husband engages with mediation and matters can be agreed then a consent order can be prepared which can be submitted to the court for approval. Once this has been approved by the court – it becomes legally binding.
If your husband wont provide full disclosure or engage in mediation then you should make an application to the court so that the court can compel him to engage in disclosure and the court can also make the decision as to what the split should be.
Under no circumstances should you agree to sell the house of give him any share of the equity until the full process has been completed and you have an order of the court either by court order or consent. Not to follow this advice could leave you open for a further claim against you and / or selling yourself short in respect of any settlement.
Please do not hesitate to ask if I can clarify anything for you or assist you further.
Kind Regards
Caroline
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ukfamilysolicitor, Family Solicitor
Category: Family Law
Satisfied Customers: 757
Experience: Divorce, Finances, Children, Domestic Violence, Care Proceedings
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Customer: replied 1 year ago.
Thank you for your advice.
Expert:  ukfamilysolicitor replied 1 year ago.
Glad I could help :)

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