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?-Do you have any children together, if so their ages and proposed arrangements?-What other assets and pensions do you both have (both sole and joint), together with values?-What are your respective incomes?-What is the outstanding mortgage on the home?
Hi, this question remains open. Please could you provide the requested information so that I can assist you.
Thanks for confirming. As the home was the former matrimonial home, you have matrimonial home rights arising out of the marriage. This entitles you to continue occupying the property until divorce and you should consider registering this interest on the title using form HR1 to the land registry. She will be served with notice of this registration. Once registered, you interest will be reflected on the title and can delay or prevent any sale of the property. Furthermore, as part of any divorce there must be a financial settlement as there is equity in the property and substantial increase in the value due to your contributions as well as contributions to outgoings for the family.
You should also be aware that due to the disparity in your incomes, if she states she cannot meet her reasonable needs she would be entitled to seek spousal maintenance from you.
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. 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
Hi, this question remains open. If you found my information provided helpful please could you rate my response positively using the stars at the top of this page as I will not be credited for my response without a positive rating.