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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.


Transfer of mortgage into sole name

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26 Jul 12 #345444 by WYSPECIAL
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My wife, who hasn''t lived with me for some time, wants me to enquire with bank about mortgage being changed into my sole name.

She says reason for this is to allow her to get another mortgage and buy a property for herself as she currently rents.

Given size of current mortgage I can''t see what difference it would make to the lender. I am also reluctant to do so as it will make me solely responsible for what is currently a joint debt and will incur costs in doing it.

She then wants to get a solicitor to draw up an agreement of how and when the current equity in the house would be split and getting some sort of charge put on the house for this value. Can she do this?

I would have thought that it would be cheaper and better use of money to get divorced and get aConsent Order for this?

Any ideas on why she might be seeking this agreement and legal charge rather than simply petitioning for divorce?

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26 Jul 12 #345445 by Reddit
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The proper way to do this is to get divorced and sell the house under the terms of a consent order. Or one of you buys-out the other. Why don''t you Petition for divorce?

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26 Jul 12 #345447 by WYSPECIAL
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Reddit wrote:

The proper way to do this is to get divorced and sell the house under the terms of a consent order. Or one of you buys-out the other. Why don''t you Petition for divorce?


Thanks. I haven''t petitioned her as I don''t want the expense of paying to do so and can''t see any advantage to me in being divorced given our circumstances. We also have a good relationship which I don''t want to spoil if possible.

I can''t afford to buy her out. At present she wants me to buy her out at a date in the future. The thought behind that is by then children will be older so my earning potential will be greater and mortgage will be paid off.

What she does want those is an agreement and charge on the property and me to have the current mortgage in my sole name.

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26 Jul 12 #345450 by Reddit
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Seriously, she is preparing to move on. YGet divorced now or it will come back to bite you in the rear end. What will you do when she wants you to sell your house to realise her share of the equity? Whatever she says now is valid right now and she may well change her mind in the future, as may you.

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26 Jul 12 #345468 by cookie2
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Dude, I think you''ve been around here long enough to know the drill. What would we tell your wife if she put her point of view on here?

"File for divorce using unreasonable behaviour. Try to co-operate and negotiate a deal with your husband. It is much cheaper and more amicable to negotiate a consent order, but if he will not negotiate then apply to court for Ancillary Relief."

Seems she is trying to negotiate a deal out of court. What do you think the next step will be, if you don''t co-operate?

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26 Jul 12 #345598 by WYSPECIAL
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cookie2 wrote:

What do you think the next step will be, if you don''t co-operate?


Hopefully she will file for divorce using 2 years seperation or UB. Thats what I''m suggesting to her anyway as that way it wont cost me anything.

The only issue I have is I can''t afford to buy her out and from what I can gather would be unlikely to get a Mesher Order. If she buys somewhere first her housing needs would be met and hopefully my chances of staying in FMH increased at least while I need it for the kids.

Or am I missing something?

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27 Jul 12 #345619 by cookie2
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WYSPECIAL wrote:

UB. Thats what I''m suggesting to her anyway as that way it wont cost me anything.

Unless she makes a costs claim.

In which case you''ll end up paying her solicitors bills and court fees, rather than just your own court fees...

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