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Clare
Clare, Solicitor
Category: Law
Satisfied Customers: 33828
Experience:  I have been a solicitor in High Street Practice since 1985 with a wide general experience.
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Wife leaving/divorce. House occupied by me,son 19 dtr 21,my

Resolved Question:

Wife leaving/divorce. House occupied by me,son 19 dtr 21,my mother 93 (she put in £30K to buy house 15 yrs ago. house value £250K. How much will Wife be entitled to?
Submitted: 2 years ago.
Category: Law
Expert:  Clare replied 2 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 long have you lived together and how much is outstanding on any mortgage?
What other assets are there and what income do you each have?
Clare
Customer: replied 2 years ago.

(1) 25 yrs (2) No mortgage (3) same/low/£15K pa each

Expert:  Clare replied 2 years ago.
Hi
How much did the house cost to buy and what was the agreement with your mother when she invested the money?
Clare
Customer: replied 2 years ago.

(1) £120K (2) House is her home as well as ours

Expert:  Clare replied 2 years ago.
Hi
Is your mother named on the Title deeds - how did she protect her 25% investment in the property?
Clare
Customer: replied 2 years ago.

(1) No...trust in our honesty. Neither wife nor I had £30K at the time of purchase.Unable to buy without her help. (2) My name only on title deeds originally. Wife now registered an interest

Expert:  Clare replied 2 years ago.
Hi
Since your mother invested 25% of the pice of the property she can argue that she remains entitled to 25% of the equity - leaving £187,500 to be divided between you and your wife.
Given the length of the marriage the starting point for division id 50/50 meaning that your ex is entitled to something in the region of £94,000.
I hope that this is of some assistance - please ask if you need further details
Clare
Clare, Solicitor
Category: Law
Satisfied Customers: 33828
Experience: I have been a solicitor in High Street Practice since 1985 with a wide general experience.
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