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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.


Should I leave the marital home?

  • bobbeckit
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18 Jun 12 #337371 by bobbeckit
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Hi All,

I am at the early stages of splitting up with my wife. She is finding it hard to deal with me in the house and would prefer that I not be there.

I have made my mind up that I willing to sign the full title of the house over to her anyway (she is not on the mortgage, but has registered marital rights) as I have 3 rental properties that I hope to keep in a settlement. I would imagine a court would award her the house anyway.

However, what I dont want to do is seriously damage my position by abandoning the home, so that at a later date I stand to lose lot more than what I could have should I stayed put.

Bob.

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18 Jun 12 #337376 by cookie2
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If you''re going to give her the house anyway then what are you afraid of losing?

The only problem would be if you change your mind and want a share of the FMH After all.

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18 Jun 12 #337380 by bobbeckit
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Hi Cookie,

That''s what I was thinking.

However, what I am concerned about is that if I leave without any firm agreement on the other assets will I loose any bargaining power at a later date.

I wouldn''t want to abandon the home and then only be left with the buy to let properties as a means of negotiating when I could have maintained some sort of rights over the MH.

But on saying that as I am the mortgagee and title holder will I still retain my rights, and this argument is neither here nor there whether I stay or not.

Bob.

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18 Jun 12 #337384 by cookie2
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If you move out then your bargaining power over the FMH will be diminished. Not reduced to zero, but reduced.

Bargaining power over all other assets will be unaffected.

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18 Jun 12 #337406 by bobbeckit
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Hi Cookie,

I am not sure if that answers the question.

I suppose an easier way to put the question is:-

Do I increase my chances of coming worse off by leaving the MH even though I am prepared to sign it over anyway?

Regards

Bob

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18 Jun 12 #337407 by cookie2
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By moving out your claim to the FMH will be reduced. But if you''re going to give it away anyway then a reduction in 0 is 0. So the answer is no.

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18 Jun 12 #337409 by Marshy_
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Hi Bob.

bobbeckit wrote:

Do I increase my chances of coming worse off by leaving the MH even though I am prepared to sign it over anyway?


Every action has an equal and sometimes unusual reaction. Doing less often has big and usually better outcomes. If you leave, as cookie has said, you diminish yr bargaining power. You will need all you can get. And you should never do anything that will put at risk yr future. No one knows what is going to happen. It may transpire that all the properties is put into the pot and sold. And moving out, makes that more possible.

If yr STBX finds it tough with you there, move to another part of the house if you can. But dont just up sticks and leave. Wait until the divorce is finalised and you have a court order that defines how the assets are to be divided. Less is often more. You are getting way ahead of yrself. Slow down. C.

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