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Harris
Harris, Law Specialist
Category: Law
Satisfied Customers: 2732
Experience:  Family Law - Specialist in Divorce, Financial Relief and Children Matters
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I used sale of my house to purchase a house jointly with my

Resolved Question:

I used sale of my house to purchase a house jointly with my husband but agreed the ownership as equal shares we are now going to seperate how do I get the whole value of the house back to myself
Submitted: 11 months ago.
Category: Law
Expert:  Harris replied 11 months ago.

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?
-How long have you been married?
-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 value of the property, and what is the outstanding mortgage?

-What were each of your contributions to the property initially?
-Who is now living in the property?
-Whose name is ***** ***** in?

-Do you have a pre-nuptial agreement in place?

Customer: replied 11 months ago.
in England
both in our 40's
been married 2 years
I have children from a previous relationship
we both own a villa in Spain - purchased in January 2016 for £185K paid with proceeds from the sale of my house
he has another villa in his name but I invested £45K into this year
we both own cars on finance so no equity in either
I have pensions of approx £10K and savings of £25K
He has savings of £20K
I dont work, he earns £35K a year
UK house purchased in January for £300K cash from sale of my house
we are both living in the property
it is jointly owned I believe as Tenants in common in equal shares but I cant see it stated as such on the title deeds
no prenup
Expert:  Harris replied 11 months ago.

Thank you - immediately prior to the marriage did you cohabit and if so for how long?

Customer: replied 11 months ago.
we co habited for a year prior to getting married and I had a cohabitation agreement signed before he moved in
Expert:  Harris replied 11 months ago.
Thank you for confirming. Firstly, given the short marriage you will be in a position to attempt to ring-fence assets acquired prior to the marriage when negotiating a financial settlement. However, given that you have added both your names to the title of the property, and it is the former matrimonial home, a court will likely agree that it is a matrimonial asset and therefore a division of matrimonial assets will need to be agreed between you or ordered by a court if no agreement can be reached.Given the short marriage, a court will likely be persuaded that your contributions should be taken into account and that you should be compensated for your big deposit from the sale of your previous house, however the court will also need to consider both of your needs and whether there should be a further division of the equity to meet those needs.Initially this should be attempted through mediation - you can find independent mediators here: http://www.familymediationcouncil.org.uk If a settlement is agreed this can be submitted to court under a consent order (together with a D81 form outlining your respective financial positions).

If mediation does not progress you should then proceed with an application to court under Form A for financial relief once the divorce petition has been issued.

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
Harris and other Law Specialists are ready to help you
Expert:  Harris replied 11 months ago.

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.