Hi, thank you for your question. Just a bit more information required to fully assist you:-Are you in England or Wales?-How old are you both?
-Is the home you refer to the former matrimonial home?-What is the value of the property, and what is the outstanding mortgage?-What other assets and pensions do you both have (both sole and joint), together with values?-What are your respective incomes?-Who is now living in the property?
-Did you cohabit immediately prior to the marriage, if so how long for?
Thank you for confirming. Firstly, as the property is the former matrimonial home and it was bought during the marriage it will be considered a matrimonial asset despite you funding it solely and it being in your name. Your husband will also have matrimonial home rights which entitled him to occupy the property until divorce and for him to claim a share of the property. Initially he cannot force you to sell the home, but he would be entitled to claim a share of it.
You will both need to provide each other with full and frank financial and income disclosure, as well as disclosure of your reasonable needs. The Court's starting point is a 50-50 split of all matrimonial assets and ensuring that both your needs are met in relation to both assets and income. Given the short marriage and no children, your contributions will also be taken into account. The criteria considered is:1. The income, earning capacity, property and other financial resources which each of the parties to the marriage has or is likely to have in the foreseeable future, including in the case of earning capacity any increase in that capacity which it would in the opinion of the court be reasonable to expect a party to the marriage to take steps to acquire;2. The financial needs, obligations and responsibilities which each of the parties to the marriage has or is likely to have in the foreseeable future;3. The standard of living enjoyed by the family before the breakdown of the marriage;4. The age of each party to the marriage and the duration of the marriage;5. Any physical or mental disability of either of the parties to the marriage;6. The contributions which each of the parties has made or is likely in the foreseeable future to make to the welfare of the family, including any contribution by looking after the home or caring for the family;7. The conduct of each of the parties, if that conduct is such that it would in the opinion of the court be inequitable to disregard it;8. In the case of proceedings for divorce or nullity of marriage, the value to each of the parties to the marriage of any benefit which, by reason of the dissolution or annulment of the marriage, that party will lose the chance of acquiring.If you have any further questions regarding this please let me know. In the meantime if you found this information helpful please provide a positive rating using the stars at the top of this page. I will not be credited for answering your question without a positive rating. Thank you
In your response you have stated that the property was bought 1 year ago and the marriage is 3.5 years long? Is this correct?
Therefore the property was acquired during the marriage and is a matrimonial asset.
Unfortunately, there are certain rights that arise when you marry someone and this includes a right to obtain financial relief from each other. Given the short marriage, your contributions will be considered which will reduce the amount that he can claim and will be a strong argument for the court to depart from the starting point of a 50-50 split of matrimonial assets.
I would suggest that you do not make any decisions regarding selling the property immediately, especially as there is no urgency. Your husband cannot sell the property himself and would need to pursue a court application if nothing is agreed between you.
In the circumstances, if nothing can be reached between you a referral should be made to an independent mediator to assist you both - you can find independent mediators here: http://www.familymediationcouncil.org.uk
Unfortunately, as stated previously, these rights arise due to the marriage.
I appreciate that this may not be the answer you would have hoped for, but if you found this information helpful please provide a positive rating using the stars at the top of this page. I will not be credited for answering your question without a positive rating. Thank you,
The starting point will be 50% of the matrimonial assets and there needs to be assessment as to what other assets you both have and what both your reasonable needs are and how these can be met from the assets. Unfortunately, in divorce cases it is not a simple percentage but a detailed assessment that is required.