How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Clare Your Own Question
Clare
Clare, Solicitor
Category: Law
Satisfied Customers: 34581
Experience:  I have been a solicitor in High Street Practice since 1985 with a wide general experience.
13262538
Type Your Law Question Here...
Clare is online now

My Wife has asked separation, and divorce. We live in

Resolved Question:

My Wife has asked for a separation, and divorce. We live in a house together that the mortgage is in her name. She made a deposit of £18,000 initial and we have been paying the mortgage since. I put in approximately £17,000 to renovate the kitchen and bathroom.
The house has recent been valued
House value: £170k
Current mortgage: £130k
Equity: £40k
My wife paid a deposit of £18k so taking that out leaves equity of £22k.
That would leave £11k each.
I am keen to understand if is correct that the deposit would be removed from the equity? Or should the total equity be divided without any deductions?
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 are there any children involved?
Clare
Customer: replied 2 years ago.
Hi Clare
Thanks for your response.
Jen and I have lived together for about 8 years and been married for 5 years. We initially rented and then bought the house after we got married.
We have one son together who is 3, and I have 2 sons from a previous relationship.
The request for separation is a shock and without determined reason. I am doing my upmost to be supportive and decent for the sake of our son.
We decided to not go through solicitors unless it was needed but Jen has had legal advice. I am uncertain of the legal standing on this matter and want to ensure things are fair for each of us.
Richard
Expert:  Clare replied 2 years ago.
Hi
Where will you each live after the house is sold?
Calare
Customer: replied 2 years ago.
Hi
My wife will be staying in the property with my son and I will be moving into rented accommodation in the next couple of weeks
Richard
Customer: replied 2 years ago.

Hi Clare

When should I expect an answer on this, or do you need more information?

Thanks for your help

Richard

Expert:  Clare replied 2 years ago.
Hi
My apologies for the delay
Given the length of your relationship and the fact that you have BOTH made capital contributions to the property there is no reason for the deposit to be deducted before the division - unless of course your payments are also repaid to you.
Having said that you would not be able to force a sale of the property until your child is 18 or your ex cohabits so if you are being offered a lump sum now however heavily discounted you may wish to consider accepting a lesser sum
I hope that this is of assistance - please ask if you need further details
Clare
Clare and 2 other Law Specialists are ready to help you