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JGM
JGM, Solicitor
Category: Scots Law
Satisfied Customers: 10655
Experience:  30 years as a practising solicitor.
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I have been separated from my wife now than 3 years.

Resolved Question:

I have been separated from my wife now for more than 3 years. I applied for divorce after 2 years of legal separation. The matter has been in the hands of our lawyers but we haven’t managed to come to any compromise or move the divorce forward. It seems court is the only way forward.
To summarise my wife has a stable, well paid job. She resides at our marital home with our 8 year old daughter who I have in my care 40% of the time. The marital home is jointly owned by both of us and it is the only marital asset having any equity. I am forced to stay in a one bedroom flat.
My wife is claiming that she would be made homeless if forced to sell – an argument which is ridiculous given her financial standing. She is also holding onto the argument that it is our daughter’s main residence and it would not be right to have her move home – a view that any judge would have (in her opinion). She has proposed a pitiful sum to buy me out, which I have rejected.
I would like to know what would happen if my wife was to remain in the property until my daughter is 16 years of age. The mortgage is interest only (my wife will pay this) but there is already a high amount of equity in the flat and it is likely there will be good capital growth over the next 8 year period.
My questions are:
Would I still have 50% entitlement after being separated for so long, given my wife would have been paying the interest only mortgage.
Can some form of legally binding agreement be drawn up between us ensuring my wife buys me out for my share of 50% in the flat at its market value in 8 years’ time?
If my wife objects to having an agreement signed what are my options then?
Thank you
Submitted: 1 year ago.
Category: Scots Law
Expert:  JGM replied 1 year ago.
Thank you for your question. I am a Scots lawyer.
Your 50% entitlement conferred by the title would continue but as the obligation to the lender is joint, your wife can ask for reimbursement of one half of the mortgage payments over the period.
It is open to you and your wife to enter into a binding a minute of Agreement, yes. It would be negotiated and drafts by your respective solicitors.
If an agreement can't be reached the court would have to decide a fair division of property in terms of the Family Law (Scotland) Act 1985.
Happy to discuss further.
I hope this helps. Please leave a positive response so that I am credited for my time.
Customer: replied 1 year ago.

Thank you for your response.

With regards ***** ***** court having to decide a fair division of property, how much do you think this would cost? I appreciate you can only provide an estimate.

Thank you

Expert:  JGM replied 1 year ago.
It depends how long the action that runs for and who antagonistic things get.typically, a solicitor will charge between £180 and £250 per hour. In the context of a contested divorce action the total bill could be into the thousands of pounds. An average bill for a contested divorce where both parties are unable to reach agreement could easily be £5 or £6000.
JGM, Solicitor
Category: Scots Law
Satisfied Customers: 10655
Experience: 30 years as a practising solicitor.
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