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.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Harris Your Own Question
Harris, Law Specialist
Category: Law
Satisfied Customers: 2851
Experience:  Family Law - Specialist in Divorce, Financial Relief and Children Matters
Type Your Law Question Here...
Harris is online now

I am currently married with no children, although I am thinking

This answer was rated:

I am currently married with no children, although I am thinking of departing from my husband. We are joint owners of a property and although I only pay a small amount to my husband each moth,and he pays the bills, I have contributed to the property in other ways (interior furnishings and a substantial amount on the garden, plus I pay for a cleaner etc). My question is what would be a reasonable settlement should we decide to go our separate ways?
Hi, thank you for your question. Just a bit more information required to provide you with a complete answer: - how old are you both- how long have you been married- what other assets and liabilities do you both have?
Harris and other Law Specialists are ready to help you
Customer: replied 2 years ago.
He is 50 I am 44, we have been married nearly 7 years. The only liability is the mortgage on the house. I have a share in a classic car we own, and there is another classic car
How much equity is in the property, and how much is your shares in the cars worth?
Customer: replied 2 years ago.
Ian not sure of the equity in the house, we brought it 4 years ago for £432. The classic car was £12,000 when we purchased it about 8 years ago, I put £5000 towards it
Thanks. Firstly, despite you not being on the property as a legal owner, you still have matrimonial home rights which allow you to occupy the property until decree absolute. These rights can be registered on the titled using form HR1 and submitted to the land registry. Your husband will be notified of this if registered. In relation to obtaining a share of the property, this is not as straightforward. As you have been married for 7 years, which is not a considerably short period of time, there should be some sort of financial settlement between you. The court looks at the criteria below when deciding how to divide assets and make financial orders, with a starting point of a 50-50 split of all matrimonial assets and ensuring that both your needs are met in relation to both assets and income. 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.