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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 were you married?-Do you have any children together, if so their ages and proposed arrangements?-What is the value of the property, and what is the outstanding mortgage?-Who is now living in the property?-Whose name is ***** ***** in?-What other assets and pensions do you both have (both sole and joint), together with values?-What are your respective incomes?
-Have either of you remarried since the divorce?
-Was your previous agreement approved by the court?
What about sole assets that either of you have?
What is her income?
Sorry, what is her income and asset position?
Apologies, what is your spouses sole assets and income?
Thanks for confirming. Is there a mortgage on the property, and to confirm the home is worth £140,000?
What is the mortgage amount?
Hi, thanks for confirming. Arising out of the marriage you are both entitled to seek financial relief from the other and given the length of your marriage, all assets will be taken into consideration, however, I note that there is only the former matrimonial home. 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 amount of equity in the home, he may be entitled to up to £30,750 as part of an equal split and if this cannot be settled as a lump sum then the court may agree that a sale of the home would be necessary to settle the finances of the marriage. For your information 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