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Hi, thank you for your question. Just a bit more information required to fully assist you:
-Are you in England or Wales?
-Whose name is ***** ***** title of the property?
-Whose name is ***** ***** in?
-What is the value of the property and what is the outstanding mortgage?
Thanks for confirming. Legally you would both be entitled to a share of the equity in accordance with how you hold the title - so if it is in equal shares, a suitable buy-out is 50% of the equity - this is the current value (£250,000) less the mortgage (£100,000) less costs of sale (usually 1.5% = £3,750). This would leave £146,250 - therefore your share has an approximate value of £73,125.
As part of the agreement, there should be confirmation obtained that the mortgage will be transferred to his sole name so that you no longer have any liability.
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You will need to check your policy as they vary, but it is likely you may need to end the current policy and set up sole policies.
In relation to the settlement proposals, the costs of the property will form part of the financial settlement and there needs to be full and frank disclosure between you regarding this.