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Ask Clare Your Own Question

Clare
Clare, Solicitor
Category: Property Law
Satisfied Customers: 33324
Experience:  I have been a solicitor in High Street Practise since 1985 with a wide general experience.
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Hello there,im currently going through separation pending divorce,

Customer Question

Hello there,im currently going through separation pending divorce, my wife and i are joint named on the mortgage, there is a 160K Positive equity on the house she is entitled i know to have half of that even though i have paid every mortgage payment from my own money.
However our first home we bought together had deposit of 25K from the sale of my own property. Would i be entitled to have that deducted from her half of the final split payment
regards
Joseph
Submitted: 1 year ago.
Category: Property Law
Expert:  Clare replied 1 year ago.
Hi
Thank you for your question.
My name is Clare
I shall do my best to help you but I need some further information first
How long have you lived together and are there any children involved.?
Clare
Customer: replied 1 year ago.

we have lived together for 14 years and we have two children 10 and 8yo

Joe

Expert:  Clare replied 1 year ago.
Hi
Who will the children live with?
What other assets are there and what income do you each have?
Clare
Customer: replied 1 year ago.

we will both share the children jointly 1 week with their mother next with me.

No other assetts, i have an income of 38K her income is 17K

Joe

Expert:  Clare replied 1 year ago.
Hi
Where will your wife live with the children if the house is sold?
Clare
Customer: replied 1 year ago.

she will have to find a house as i will, rented or bought, at this time neither of us can predict where we will live, however we will both find somewhere local because of the children's school and her work.

Regards

Joe

Expert:  Clare replied 1 year ago.
Hi
Has she actually agreed to sell the house?
Clare
Customer: replied 1 year ago.

not yet, i have heard her talking about moving we are seeking mediation, I am looking into additional borrowing to make a transfer of equity, she will not have enough funds to buy me out, but i will have enough to pay current balance on mortgage and additional borrowing to buy her out, we are going to discuss this through mediation.

Regards

Joe

Expert:  Clare replied 1 year ago.
Hi
The length of the relationship and the fact that there are children means that the starting point for division of all the equity will be 50/50 and this is the least that she will get.
The fact that you paid the deposit would not be seen as being of any relevance if this matter goes to court I am afraid
please ask if you need further details
Clare

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