about to separate - what are our rights?

don't know really what to do feel totally lost....

basically my wife and I are about to split up, we have been together for 13 years and married for 4, she has 2 sons who are 13 & 15. we recently purchased a new build house in October of last year where I put up £6000 payment towards the deposit and used the rest of our savings to furnish the house to where we have almost a few hundred left..

We both have our names on the mortgage. we have a vehicle on lease thru my place of work which she mostly uses for work..

currently I'm still under the same room but it's getting very awkward and bitter our finances are not too great and I know will probably get worse.. I would say most of our assets are in the furnishing and the house itself -

just don't know what options I have..

Basically, when it comes to the house, your options are fourfold.

1. Sale and division of the proceeds.
2. One of you buys the other out.
3. The house is awarded to her outright ( very unlikely ) or
4. the sale of the house is postponed until the youngest is18 or your wife dies or remarries. When any of these happens the house is sold and the proceeds divided.

It's impossible to advise on these options without more information.
If your wife can't afford to live in the house with the aid of such resources as she has or might acquire, then a sale may be
the only realistic course of action.

LMM

Thanks for the reply - I'm concerned what my legal rights would be?

if she does stay with the kids as i guess any court would take the children's welfare as a priority anyway and offer that scenario.

What am I legally obliged to pay, as i will have to fund accommodation and furnishings etc which I know is going to be a strain on the finances. what happens when the kids are 18 what are my rights?

Do we get anything written down that would be binding regarding assets within the house. I just don't know what action to do and I know things need to happen before anything get ugly.

Hi Prescott699

We stayed under the same roof for a year and half. It was fine at first, until other woman wanted me out. I would not go untill all finances had beed settled ang signed. He has bought me out of the marital home and has remorgaged. Moving his new woman in. We were married for 24 years and have two sons 21 and 18. My situation is (In Scotland) my stbx helps support the 21, he's in uni. But this arrangment is between them cos he is older. The 18yr old was is education when we first split and he supported him but when he turned 18 left education and no job he has not paid a penny and although the 28yro is living with me I support him, which is tough as he has gone off the rails a bit. SO PLEASE support the kids and split everything 50/50 get every thing down on paper get legal advice. We sat down and calculated everything even down to furnishing, some he didn, t want so I took. Don't forget your pension( if you have one) she is entitlled to half of yours and vice versa. In Scotland it dosen't matter who put in what, it is the marital assets. Not sure of legal issues where you are. Get As I said get everything down before it gets to ugly, but also remember please look after the kids. Apologise for any mistakes, no internet as yet:angry: so trying to write on my phone. Best of luck. Jackie

But I'm confused if I should leave or not? I desperately don't want this and in my mind I'm thinking if she wants to leave me/no longer be with me why should I make the decision to go and if I did does that look bad in the short/long term legally regarding house finances etc....

I know it will be difficult for whoever leaves, but know/read if things came to it she would get the right to stay due to her sons....

So confused

Can she afford to stay in the house? Could her housing needs be met in a smaller property?

Yes to both but so she could argue that mine could be yes to both too.