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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.


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What is the position on this?

  • trooper
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05 Aug 07 #1755 by trooper
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My wife and I are getting divorced and she has indicated that she would like to take on the house. There is a 60k mortgage on it. 15k of that is as a result of debt consolidation in that my debts were added to the amount we borrowed from the bank because it made it more managable.

If the wife does take on the house can she ask that the 15k that was added be given back to me or is the fact that the mortgage is 60k end of story?

cheers

  • gone1
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05 Aug 07 #1756 by gone1
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She can say anything. She could say that you pay her the 15k and thats that. You walk. I wouldnt. I would sell the house to her. You are entitled a percenatge of the equity. You dont say anything about kids or how long the marraige was. If its a short marriage and no kids you are entitled to about 50% of the equity. I would get legal advice. You could be walking away from a lot of cash. You may need this cash to setup a new home. Chris.

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05 Aug 07 #1757 by Fiona
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12 Aug 07 #1919 by trooper
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Thanks guys for the thoughts. What is considered a short marriage. We have been married for 2.5 years.

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12 Aug 07 #1936 by Fiona
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