How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • Go back-and-forth until satisfied
    Rate the answer you receive.
Ask plclegal Your Own Question
plclegal
plclegal, Barrister
Category: Family Law
Satisfied Customers: 4843
Experience:  Barrister at law
101823876
Type Your Family Law Question Here...
plclegal is online now

Thanks for being here. My wife and I have agreed to

This answer was rated:

Hello. Thanks for being here. My wife and I have agreed to separate. She wanted me to leave five years ago, but I stayed. Now the kids are older and understand the situation they are happy. The problem: My wife and sister have inherited a house which is for sale. My wife and I have agreed once that house is sold she will give me a share so that I can leave the family home. But, we are still married, so am I legally entitled to some money from that sale anyway? I don't want this to be messy but I also want a fair share of property. We have a mortgage on the family home. I would rather not have to go through splitting the family home up. Thanks
JA: What steps have you taken? Have you filed any papers in family court?
Customer: No, not yet. Nothing. We are still living under the same roof.
JA: Have you talked to a lawyer about this yet?
Customer: No. I can't afford £250 an hour!
JA: Anything else you want the Lawyer to know before I connect you?
Customer: I have been waiting for two years to go. Should I start divorce proceedings? Or wait until the other property is sold?

Hello, my name is Peter and I’ll do my best to assist you today.

Please bear in mind as this is an email service and not live chat I may not respond immediately.

I'm just reviewing your question.

Can you tell me what your family home is worth (approximately) and what the outstanding mortgage is?

Do you and your wife both work?

How old are your children?

Customer: replied 9 days ago.
The family home is worth 220k. The outstanding mortgage is 70k. The inherited House is for sale at 230k. My wife and I work full-time, approx joint annual salary is 65k. My children are 15 and 12. Thanks

Hello.

Thanks for the information.

With approximately £150k equity in the property, the starting point is a 50/50 split.

The inheritance could be considered a joint asset at this stage, but if you have been effectively separated for over 2 years and the inheritance has just come, she could also argue that it should be excluded from the joint pot - the question really is would 50% of the equity from the family home allow you to move on?

plclegal and 2 other Family Law Specialists are ready to help you
Customer: replied 8 days ago.
Okay, so, would I be best advised to forget the inherited house and start a divorce and go for a house split?. I am more than happy to live off £150k. My wife and I still live in the family home but we have not been a couple for more than five years so I guess she would rightly claim I am not entitled to anything from the inherited property.
Customer: replied 8 days ago.
Also, should I now go to a Family Law Firm or speak to my wife first? Thanks for all your help

To be clear - the equity being £150k, your share is half of this.

You can file for divorce whenever you want to. It would be easiest if you agree to file under 2 years' separation, and do this by consent.

You don't need a lawyer to apply.

See the link here: https://www.gov.uk/divorce/file-for-divorce

Customer: replied 7 days ago.
Thanks. If we split the equity does it mean that we have to sell the house, or will the bank remortgage and give me my share?

It sounds to me like she is planning to buy you out of your share from the proceeds of the inherited house sale. Or, if the bank will allow her to take out an additional mortgage your share of the equity could be released this way, yes.

If there are no alternatives, a sale is the last resort.

 

Customer: replied 7 days ago.
That is the exact situation. Thank you. You have put my mind at rest. I shall ask for a split of the family home and file for divorce as you advised.