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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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offsetting CM in lieu of house equity

  • jellybean78
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26 Apr 12 #326647 by jellybean78
Topic started by jellybean78
Hi, Im new here so if anyone can offer me some help, that will be great.

My ex and i split almost 5 years ago.
We have one child together, still in primary school.

I pay CM every month, and the ex pays the mortgage as they are living there.

We have the same income and pension.

I was wondering how things could turn out for me during divorce proceedings if I tried to offset some child maintenance payments if I agree to let the ex have my share of equity in the house (£40k)

Im currently renting and whilst I would like to buy a new home, I can''t afford it with still being tied to the mortgage with the ex.

We aren''t yet divorced as the ex refuses to consent, hence needing to wait for 5 years, to keep it pleasant and blame-free.

Any info would be appreciated.

  • maisymoos
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26 Apr 12 #326648 by maisymoos
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You are legally obliged to pay CM and this should not be offset against house equity. Your ex will be able to make a claim via the CSA a year after any court Consent Order. You may be able to offset Spousal maintenance but not child maintenance.

How big is the house, is it larger than her needs?

  • Marshy_
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26 Apr 12 #326649 by Marshy_
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Hi Jellybean. Its a joint mortgage right? First question I would ask is could she pay the mortgage on her own and could she get a new mortgage in her sole name? You have to look at this 1st. What you are saying is a transfer to her sole name and for that to happen she would need to acquire a new mortgage from scratch. This is how it works. You cant just transfer a mortgage.

So if the above is possible and she would take the house on, then your maybe in with a shout.

I suspect what she will do is get a calculator out and divide the 40K by the amount you are paying her in CM and see how many months that is and if this is worth it for her.

But do the mortgage calculation 1st and if that is a goer then you could see if she will accept the equity in exchange for the CM. C.

  • jellybean78
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26 Apr 12 #326655 by jellybean78
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Yes, its a joint mortgage and yes, she is able to afford it on her own.

I have offered for her to do this when we split, but she didn''t make any move to do so.

She refuses to communicate about the finances and this is why I will be guessing the decision will be left to the courts to decide, I just wanted to put my proposal of offsetting to her even though she will probably say no.

We are on the same salary and she can afford the to live very comfortably paying the mortgage on her own, but i have no idea if her standard of living will drop if my child maintenance payments were to drop.

Since she refuses to sort the finances, I have no idea if I would be causing her hardship.

It would be easier if everything was laid out on the table, but she refuses to disclose her finance as she does not want me to see.

It makes it hard to know what to agree on financially.

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26 Apr 12 #326656 by cookie2
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The only way to force financial disclosure is to make a court application. That does not mean you have to go all the way through the courts, you can agree terms and sign a Consent Order at any time to stop the process. But without an application, there is no obligatory disclosure.

And no, you can''t capitalize child maintenance.

  • jellybean78
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26 Apr 12 #326659 by jellybean78
Reply from jellybean78
Yes, the house is a 3 double bedroomed home, with 2 reception rooms and only the two of them reside there.

I had phoned the CSA to ask them if it was possible to off-set and they said it was fine as long as she agreed to it.

However as she is refusing to disclose any financial information to me, I can''t make any decisions not knowing if it is even feasable- I do not want to see her or my child in hardship, but at the same time I can''t assess what is fair, when I don''t have all the information, hence I would need to ask the courts to make that decision?

I am not sure about the conflicting information between the CSA helpline and now reading from you that it isn''t possible to offset it...
I can''t afford to go backwards and forwards between our solicitors, so Im trying to save on the time and extra stress by submitting a fair (or what seems fair from what I can gather) in my eyes.

Does this make any sense?

  • jellybean78
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26 Apr 12 #326660 by jellybean78
Reply from jellybean78
re capitalising child maintenance...Should i re phone the CSA as it now seems I as given the wrong information?

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