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Harris, Law Specialist
Category: Law
Satisfied Customers: 2851
Experience:  Family Law - Specialist in Divorce, Financial Relief and Children Matters
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My wife and I are seeking to divorce. We own our house as

Customer Question

My wife and I are seeking to divorce. We own our house as joint tenants in common. There is around £200,000 equity in the property. I am the injured party and want to sell and move on. My wife who is 24 yrs younger than I and thinks it will be ok to live as two independent people without selling the property. What am I able to do please
Submitted: 1 year ago.
Category: Law
Expert:  Harris replied 1 year ago.

Hi, thank you for your question. Just a bit more information required to fully assist you:
-How old are you both?
-How long have you been married?
-Do you have any children together, if so their ages and proposed arrangements?
-What other assets and pensions do you both have (both sole and joint), together with values?
-What are your respective incomes?
-Who is now living in the property?

Customer: replied 1 year ago.
I am 66 and my wife is 41. We have no dependant children. She has no cash assets but a pension valued at £120k, She earns around £33k pa. I have assets of around £60k with pension income of £16k pa. We are presently both living in the property with no other tenants. We have been married 7 years.
Expert:  Harris replied 1 year ago.

Thank you for confirming.

The Court's starting point is 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.

Your marriage would be a medium length marriage and there are no children, therefore the court will only be considering both your needs. It would likely be the case that your needs are greater than hers given that you are no receiving a pension and will likely be retired.

The court's first consideration is for both of you to be housed and what your property requirements and mortgage capacity is.

It is unlikely that a court will agree that you should both remain in the property and if no agreement can be reached (for example you buying out her share) then the property will have to be sold and equity divided in accordance with your needs.
If you have any further questions regarding this please let me know. In the meantime if you found this information helpful please provide a positive rating using the stars at the top of this page. I will not be credited for answering your question without a positive rating. Thank you

Expert:  Harris replied 1 year ago.

Hi, this question remains open. If you found my information provided helpful please could you rate my response positively using the stars at the top of this page as I will not be credited for my response without a positive rating.