- Posts: 16
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What is the value, and the outstanding mortgage? £350k equity could mean a £400k value with a £50k mortgage, or £2m value with a £1.65m mortgage... these cases would be very different!
i) House equity approx £350k
House contents are only valued at their second hand value. Can you break this down into values for the different objects?
iii) Furniture, car jewellery etc £25k?
Can you itemise this a bit please? Which are CC and which are loans, what were these debts for, and whose name are they in?
iv)credit card debts + others £38k
With an income of £1700 you are probably not going to get hit with much (if any) spousal maintenance. When you have paid your own living costs and CM, you probably won''t have much left to give her. It seems highly unlikely that your wife will be able to pay the mortgage on her income alone, therefore it will probably have to be sold. This is good for you, it means it will be easier for you to get a share of the equity.
Pre crunch much better but now combined income is approx £2800 net (all incl) where my income would be approx £1700 pm and my wife''s £1100 pm.
No. Courts do not work on "likely". They work on facts.
a) both my parents died years ago but her mother and aunt both have property and it''s likley that she''d inherit. Does this alter anything?
What kind of items are you talking about? If it''s an ornament or a flower vase with not much actual monetary value, then yeah, just take it, what''s she gonna do? But if it''s say a Ming vase or a Faberge egg or a diamond the size of your eyeball, then I think your wife would have something to say about it. Inheritances are not automatically ring-fenced. They are taken into consideration along with all the other assets.
b) I have some inherited things from my mum and dad - I read somewhere that I could take those with me too?