I need to have advice concerning the sharing of proceeds from the selling of my house. I am the sole owner of the house but my wife has been living with me since we got married in 1998. My first wife passed away in 1997. I bought the house in 1977. This is the family home where my two sons born in 1970 and 1971 were brought up and lived until about 1999. The current value of the house is about £650,000. The value of the house when I got married my second wife was about £500,000. I had to take a second mortgage because my business was not doing well in 2000 and 2007. The total mortgage at the moment is £375,000. My wife is under the impression that she is entitled to a large proportion of this money. I believe that she is entitled to some of the proceeds but whatever she is entitled to should be based on the increase in value of the house between 1998 when we got married and the present value which is £650,000. Please advise me as to what proportion you think she is entitled to. Or what should be the base of starting to negotiate. Are my two sons who lived in the house from 1977 to 1999 entitled to any of the proceeds bearing in mind that the house was bought for £32,000 in 1977? The bulk of the increase in value took place during this period.
Thank you dear Clare for being my adviser once again.
Neither my wife nor I have any other assets in the UK. However my wife has a flat in Kiev (Ukraine) which she bought with money that I gave her. This is on her name only. I own some land in Cyprus but this land is situated in the Turkish occupied area of Cyprus so it has no intrinsic value as it cannot be sold or exchanged.
My wife has no income. I am a pensioner with total pension of about £1400 per month. But I have to pay £813 on the mortgage, £195 on Rates, £200 on Gas and electricity. So there is no money left over. However I have an additional income from some consultancy which I do and this will be about £10,000 for this year.
A one bedroom flat in our area would be in the region of £200,000 to £250,000.
Finally can you please tell me if I can have access to my questions and your answers that we exchanged in September last year?
The property in Kiev is now worth about £200,000
We live together in my house in London
I have to pay for all the expenses
Her son (from the previous marriage) lives in my wife's flat in Kiev
My wife is 54 years old.
She used to be a professional soprano singer.
She has not worked since we married except of a few concerts with total income over the years of about £2000
She can work but she is not that interested in working. She prefers to be at home or travelling with me whenever I travel on business overseas.
Her daughter has a 2 bedroom council flat. She lives with her boyfriend and their son. She could live there but it would not be vaey comfortable.
I adopted her daughter when she was 12 years old. Now she is 26 and a full time student.
My proposal to her is to sell and move to Cyprus where we could buy a much cheaper house or flat, say about £100,000. This would be in joined names.
It is not certain as to whether we will separate or not.
This is what we discussed before but we both thought that separation would not be beneficial to either of us.
However if we don't agree as to the splitting of the proceeds then I will probably go for divorce.
What I am planning is to discuss with her and try and sort the splitting of the proceeds before I decide on divorce.
I think that she is entitled to 50% of the difference between what we get from the sale of the house and the current mortgage.
This is why your advice is so vital.
No value. But I still offer support to some companies that brings me in about £1,000 per month.But I have to work for this. Like consultancy fee.
Thank you for all your help
I am sorry dear Clare for labouring the point about my property in Cyprus. This is a property that I bought much before I met her. It is land and not a house.
I cannot see how she has a right to this. I can recollect for example that when the Abramoviches split up she only got about half a billion. He kept his 15 billion Empire. They did not split that Empire into to.
By the way this land has now zero intrinsic value as it is in a military held zone by the Turks and I am not allowed to sell it. From what you said the value of the land is taken as that on the day of the divorce. So if we were to divorce tomorrow she should get zero. However can she claim that this land may have some value in 3 years’ time say and so to be allowed to half the proceeds of his land when I sell it in 3 years?
Please see the below and advise me. Is there a chance of getting compensation due to the number of years? The fact is that I didnt know about the fact that I had asbestosis until recently.
The Unilever Personnel Manager Unilever House 100 Victoria Embankment London EC4Y 0DY
I worked for Unilever Engineering Division and Unilever Research from 1968 to 1984.
In 1973 whilst working for Engineering Division I was asked to go along with my immediate manager Ian Ross to a Macfisheries retail store in Westminster off Victoria Road London SW1 to inspect one of their freezers.
When we got there three of us went up to the loft and I was asked to climb down a ladder to get to the freezer. As I was standing there, suddenly a mass of Asbestos fell on top of me and covered me fully. This Asbestos was stored above the freezer
I had not at the time realised the seriousness of my situation.
However X-Ray plates have recently shown that I have a stain on my lungs caused by Asbestos. I suffer from serious coughing which I could not explain. Furthermore I understand that this stain on my lungs can have more serious consequences on my life.
That incident was the only exposure that I ever had to Asbestos.
I would like to meet you and discuss the possibility of compensation. The reason that I write to you directly instead of through a solicitor is because I have faith in the Unilever ethics and moral codes towards the welfare of its staff and I prefer to resolve this problem directly rather than through the courts.
OK. How do I do that?