Hi, thank you for your question. Just a bit more information required to fully assist you:-Are you in England or Wales?-How old are you both?-How long have you been married?-Do you have any children together, if so their ages and proposed arrangements?-What other assets and pensions do you both have (both sole and joint), together with values?-What are your respective incomes?
-What is the value of the property, and what is the outstanding mortgage?
Hi, this question remains open. Please could you provide the requested information so that I can assist you.
Thank you for confirming. Firstly, despite him inheriting the current property as he has used it as the matrimonial home, and there are no other substantial assets, it will now be considered a matrimonial asset and you have matrimonial home rights by virtue of the marriage. This can be registered on the title of the property using form HR1 with the Land Registry and he will be given notice of this registration. The registration of your home rights will be drawn to the attention of any buyers and can prevent or delay a sale due to your interest. Furthermore, matrimonial home rights allow you to continue occupying the home until divorce, and during this time there should be either agreement or court involvement to decide a settlement.
Initially this should be attempted through mediation - you can find independent mediators here: http://www.familymediationcouncil.org.uk If a settlement is agreed this can be submitted to court under a consent order (together with a D81 form outlining your respective financial positions).If mediation does not progress you should then proceed with an application to court under Form A for financial relief once the divorce petition has been issued.You will both need to provide each other with full and frank financial and income disclosure, as well as disclosure of your reasonable needs. The Court's starting point is 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.
Given that there are no dependant children, the court will focus on both your needs and it may be appropriate for the property to be sold, equity divided in a way to allow you both to rehouse yourselves independently.
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