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Ask Clare Your Own Question
Clare
Clare, Solicitor
Category: Law
Satisfied Customers: 34105
Experience:  I have been a solicitor in High Street Practice since 1985 with a wide general experience.
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My husband and I have been married for 28 years although we

Resolved Question:

My husband and I have been married for 28 years although we have been separated for 14 of those. He is now wanting to sell what was the family home. Children are grown up and off hand therefore, it seems the right thing to do, I am not interested in any assets that he has, he has been an excellent father and we have remained friends....until now, I have asked for 50% of the equity so that i can buy my children an investment property, I want nothing for myself. On two occasions he has had financial difficulty and I have jointly signed for him to release equity taking nothing for myself. Please could you tell me where I stand on this? He has turned into a monster.
Submitted: 3 years ago.
Category: Law
Expert:  Clare replied 3 years ago.
Hi
Thank you for your question.
My name is Clare
I will do my best to help you but I need some further information first.
How much is the house worth and how much is outstanding on the mortgage?
Clare
Customer: replied 3 years ago.


The house already has a buyer who is willing to pay the asking price of 290,000 the outstanding mortgage is 86,000. On two occasions my husband has released some equity total sum 30,000 which i happily agreed to as he had financial difficulty, I asked for nothing and received nothing.

Expert:  Clare replied 3 years ago.
Hi
So what does your ex think should happen?
Clare
Customer: replied 3 years ago.

He thinks I should accept 65,000 and fade away. This money is not for me it is for my boys, I could make my life so much easier if I wanted it for myself I want to invest it for our grown up sons.

Expert:  Clare replied 3 years ago.
Hi
Why does he think you should accept so little?
Clare
Customer: replied 3 years ago.


That is merely his opinion, I was totally honest with him and told him that I had sought legal advice he now does not accept my calls what is my next course of action? What do you think my entitlement is?

Expert:  Clare replied 3 years ago.
Hi
What is your current housing position and what other assets do you each have?
Clare
Customer: replied 3 years ago.

I live with my partner I do not own the property. I have no assets. My mother even owns my car! My Husband however, has shares in the recently privatised Royal mail where he has worked for the last 34 years also a Royal mail pension, some savings and of course his share of equity in the property.

Expert:  Clare replied 3 years ago.
Hi
Then as you already know 50% of the equity is the least that you can expect.
If you wish to be more than necessarily generous then say you will accept 40% - £80,000
There is however no need to do so
Please ask if you need further details
Clare
Customer: replied 3 years ago.


Can he stop me from getting this amount? I have decided that if I do not get it I will not sign the contracts for the sale.

Expert:  Clare replied 3 years ago.
Hi
No - if he takes you to court that is the least you will receive, and yes you should indeed simply say that you will not sign the contract!
Clare
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