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Ask Clare Your Own Question

Clare
Clare, Solicitor
Category: Property Law
Satisfied Customers: 33310
Experience:  I have been a solicitor in High Street Practise since 1985 with a wide general experience.
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we have just recently seperated and i am not sure about what

Customer Question

we have just recently seperated and i am not sure about what to do about our home or who is entitled to what. The house is worth £120.000 the morgage we have left is £80.000 but we also have a secured lone on the property which is greater than the equity. My daughter is 14 and is still living with me i intend to stay in this property. What would my ex wife be entitled to bearing in mind she is not paying anything towards the morgage or the secured loan that is on this property.
Submitted: 3 years ago.
Category: Property Law
Expert:  Clare replied 3 years ago.
Hi
Thanks for using JustAnswer. My name is Claire, I will do whatever I can to answer your question
What other assets and debts are there and how much do you each earn?
Claire
Customer: replied 3 years ago.

we are currently in the middle of an iva we have no assets and we have unsecured debts of around £40.000 as well as the morgage and the unsecured debts

Expert:  Clare replied 3 years ago.
Hi
How much do you each earn?
Claire
Customer: replied 3 years ago.


i earn £1.500 per month net and my wife earns £1.325 per month net

Customer: replied 3 years ago.


I earn £23.000 pa my wife earns £20.000 pa we have secured loan of £44.000 plus unsecured loans which amount to £40.000 the morgage is £80.000 the value of the property is £120.000 Wwe are in a middle of an iva

Expert:  Clare replied 3 years ago.
Hi
Will you be taking on all the debt?
Claire
Customer: replied 3 years ago.

i will be hoping to split th ive but yes the morgage and the secured loan on the property will be taken on by me

Expert:  Clare replied 3 years ago.
Hi
Whose name are the unsecured debts in?
Claire
Customer: replied 3 years ago.


joint

Expert:  Clare replied 3 years ago.
Hi
Since there are no assets - only debts - all your ex will get is a share of the debts - how big a share depends on what you negotiate
Claire

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