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the family home

  • manji
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12 Dec 07 #8888 by manji
Topic started by manji
I am now divorced (at 73) Our main asset was the family home. As my wife was in no way to blame for the divorce I do not want to force or suggest 50/50 sale but I do want to register an interest so that the house (which I gave to her when the mortgage was paid)could not be sold without me getting a share. She may well get married and want to move. I do not want to take anything while she is alive and living at that address. But I do want something to hand on after we both have no use for the place!
What do you think

  • TMax
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12 Dec 07 #8894 by TMax
Reply from TMax
Nothing stopping you registering, but if your already divorced then arnt your financial assests sorted at court and agreed, if so then no I doubt you can argue it unless your willing to loose more than youl gain, if youve not yet had the FH then yes all things are in the pot for sharing.

  • LittleMrMike
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12 Dec 07 #8903 by LittleMrMike
Reply from LittleMrMike
My understanding is that it depends on

1. Did you make any claim for ancillary relief in the course of the divorce proceedings ?
2. Has your Decree Absolute been issued ?

I think it is possible for you to apply for financial relief even after the divorce even if you did not claim financial relief during the divorce, but you would have to obtain the leave of the Court to bring proceedings in such circumstances.

In any event delay is potentially damaging. What you are asking for seems quite reasonable to me, but why wasn't the point raised at the time ?

I would get an appointment with a solicitor as soon as possible, but I think (s)he would need to know the answers to these two questions.

Mike 100468

  • Fiona
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12 Dec 07 #8915 by Fiona
Reply from Fiona
I'm not a lawyer (and I don't live in England or Wales) but I think what is required here is a Martin order, which is the way of you holding an interest in the property in the form of a charge until certain conditions trigger a sale. Correctly worded this should prevent any capital gain tax liability, although HMRC haven't stated this is specifically so.

One thing to watch is that the property is sold, transferred or nominated for relief from capital gains tax on your share within three years of you moving out to avoid capital gains tax.

  • WornOut
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14 Dec 07 #9014 by WornOut
Reply from WornOut
I'm no expert either but what you seem to be describing is a Martin Order, which is granted by the court and allows the wife or husband to remain in the property for the remainder of their life, or until a "trigger" event occurs e.g. remarriage or a voluntary decision to leave the property.

It is possible to apply for the Absolute before the finances are settled and you can apply for Ancillary Relief, as long as you have not remarried. Remarriage, I believe, is the only matter which prevents a person from making an application under the Matrimonial Causes Act.

My ex has obstructed every inch of the way, so I chose to apply for the Absolute before the finances were settled. I knew he would continue to obstruct and it was a victory I needed after waiting 3.5 years.

Having the Absolute was far more precious to me than any financial benefits I might reap as his widow if he popped his clogs. I have recently applied for AR because, as anticipated, he has continued to obstruct the process.

  • attilladahun
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14 Dec 07 #9015 by attilladahun
Reply from attilladahun
WornOut is correct it is a "martin" order you should seek

The propery will stay in W's name on a deferred charge basis and the house

would be sold on the happening of the following events

Her death
Her remarriage
Sale of the property (but proceeds can be used to buy her a substitute ppty to be held on same terms)
Or other order of the Court

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