A well respected, award winning social enterprise
Volunteer run - Government and charity funded
We help 50,000 people a year through divorce

01202 805020

Lines open: Monday to Friday 9am-5pm
Call for FREE expert advice & service info


What are we each entitled to in our divorce settlement?

What does the law say about how to split the house, how to share pensions and other assets, and how much maintenance is payable.

What steps can we take to reach a fair agreement?

The four basic steps to reaching an agreement on divorce finances are: disclosure, getting advice, negotiating and implementing a Consent Order.

What is a Consent Order and why do we need one?

A Consent Order is a legally binding document that finalises a divorcing couple's agreement on property, pensions and other assets.


Selling an Asset before disclosure

  • readyplayerone
  • readyplayerone's Avatar Posted by
  • Junior Member
  • Junior Member
More
04 Feb 21 #515651 by readyplayerone
Topic started by readyplayerone
I have received Decree Nisi. Attended MIAM for financial settlement. We have yet to declare our outgoings, assets etc and mediate.

I am about to start a new job which comes with a company car. Therefore, I no longer need my existing car, worth 11,000 and I have found buyer. This would also clear the outstanding debt.

Am I OK to proceed with the sale of this asset? It is not malicious, and would also reduce my outgoings, insurance, tax etc.

Thoughts welcome. Thanks in advance.

  • wikivorce team
  • wikivorce team's Avatar
  • Moderator
  • Moderator
More
04 Feb 21 #515652 by wikivorce team
Reply from wikivorce team
As long as you don't irresponsibly dispose of any of the 11K raised from the sale then you should be OK.

You can put some of the 11k towards debt and declare the remainder in the financial disclosure.

Moderators: wikivorce teamrubytuesdaydukeyhadenoughnowTetsSheziLinda SheridanForsetiMitchumWhiteRoseLostboy67WYSPECIALBubblegum11