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Harris
Harris, Law Specialist
Category: Law
Satisfied Customers: 2726
Experience:  Family Law - Specialist in Divorce, Financial Relief and Children Matters
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Due to my husbands debt we took out equity on the house. I

Resolved Question:

Due to my husbands debt we took out equity on the house. I had to sign the deeds over to my husband as I'm under 50 years old. We have now separated and I've moved out. Can i still claim for half the house minus the equity?
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:
-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 and the debt?

Customer: replied 11 months ago.
I'm 49, my husband is 61.
Married 28 years.
2 children aged 25 & 27.
House together - no mortgage
Husband retired civil service and army pension. Approx £1100 per month
My salary £20,000 per year with civil service pension from 60 year's old.
Value of houses approx £300,000
Customer: replied 11 months ago.
Both children still in the house, both earning, I'm currently in a houseshare
Expert:  Harris replied 11 months ago.

Thanks for confirming. What is the actual pension pot for each of your pensions?

Customer: replied 11 months ago.
Mine will be 7,000 per year with a lump sum of £35,000.
My husband has already had his lump sum and spent it. All i know is that he has £900.00 per month civil service pension and £200.00 per month army pension
Expert:  Harris replied 11 months ago.

Thanks for confirming. Firstly, despite the home being in his sole name now, you have matrimonial rights arising out of the marriage which entitle you to occupy the property until divorce. This can be registered on the title of the property using form HR1 with the land registry and he will be notified of this registration. This will be drawn to the attention of any buyers and will delay and possibly prevent a sale without your knowledge.

Given the length of the marriage, it is likely that the court will agree that all assets are matrimonial and, unless there are exceptional circumstances, there should be equality in the division of assets.

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

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