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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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Selling the matrimonial house during divorce process

Customer Question

Related to my previous question,would it be a bad idea to sell my house (matrimonial) during the divorce process with a 40K more than the price I paid while I bought? Would she feel more encouraged to ask money since it will be proven that the house made some profit? if you consider the costs incurred in buying and selling process (stamp duty,estate agent fee,mortgage early repayment penalty etc.), the only "profit" left is 10K,and even most of that I spent on repairs anyway.

Another issue is that if I sell the house without informing my ex, whether the judge may see it as a sign of bad faith during the financial settlement phase?

Submitted: 2 years ago.
Category: Law
Expert:  Nicola-mod replied 2 years ago.
,
I've been working hard to find a Professional to assist you with your question, but sometimes finding the right Professional can take a little longer than expected.
I wonder whether you're ok with continuing to wait answer. If you are, please let me know and I will continue my search. If not, feel free to let me know and I will cancel this question .
Thank you!
Nicola
Customer: replied 2 years ago.

, it looks like finding an expert is difficult when the monetary value of the question is not much. Please continue to find an answer question. Thanks.

Expert:  Clare replied 2 years ago.

Thank you question - my apologies delay in picking it up - I have not been online often in the last few days
There is no point in selling the house as if there are cash assets your ex may in fact get a larger share.
Equally it i snot about profit it is about equity - which is more substantial
Please ask if you need further details
Clare
Customer: replied 2 years ago.

,

Thanks answer. I thought Equity determines the Profit. So if she gave the 10% of the money I put into house while I bought it, she would only be entitled to the 10% of the profit I made while I sell it, is that correct? And since the house have not made much profit (the profit is almost non-existent if you deduct the stamp duty, estage agent fees etc.), her percentage from the profit will also not be significant. She will essentially get the same money she gave to me while I bought the house.

My other question was whether the judge would see it as a sign of bad-intention during the financial agreement phase (and punish me financially by ordering to pay her more etc.), since I did not inform my ex about the house selling ?

Expert:  Clare replied 2 years ago.

No I am afraid that the family Court has wide powers to redistribute the assets in any way that the court thinks fit.
Given the figures you gave on the last question there is more than £100,000 equity in the property - and yes selling the house will not be viewed in a good light by the court
Clare
Customer: replied 2 years ago.

,

There was 54K equity in the house when we bought it (her contribution was approx. 10K), and now the equity reached to 60K due to my mortgage payments.

The reason I want to sell the house is to prevent her moving in back to my house, which will cause me to move out of the house. Basically she made false allegations of domestic violence in order to benefit from legal aid etc. Even though there is no evidence (and there won't be any since I haven't done anything), I was bailed by police with a condition not to contact her directly or indirectly. In my understanding, that means if she finds a way to come in to the house somehow (she moved out 6 months ago), that would automatically mean I will have to move out from the house because of the bail. Also, her financial situation is not as good as mine, so I am also afraid that she might obtain a court order to move in to the house since she doesn't have a place to live etc. Please bear in mind that we were married only last 2 years, of which the last 6 months as seperated.

I definitely want to sell the house to leave everything behind me, but I am equally concerned that it might not be a good action from the legal perspective to sell the house without informing her solicitor.

I would appreciate if you can let me know whether it would be possible to sell the house without causing much difficulty.

Regards

Expert:  Clare replied 2 years ago.

Selling at this stage will be a bad idea and will release more cash than is wise at this stage
The fact that she has lived elsewhere months and there are no children involved means that if she did move back you will be able to obtain an order forcing her to leave and allowing you to return.
It would certainly not be wise to sell the house without the agreement and knowledge of your ex
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.
Clare and other Law Specialists are ready to help you
Customer: replied 2 years ago.

Thank you very much answer.

Expert:  Clare replied 2 years ago.

You are welcome - I hope all goes well
Clare