In hindsight, I wish I had got the house on the market and sold before we headed to court- I could have rehoused them in something suitable and kept the remainder to pay off debt and put a deposit on something for myself.
Dangers of not putting it on market- court could decide that your ex gets to stay in the house and you get mesher on it (not redeemable until youngest is 18)
Also- paying for 2 households is expensive, especially if your mortgage is high. This can, and most often will put you into even more debt
If you are ''friends'' get it sold and assets divided before things turn sour.
Thanks for quick reply.
That is my worry but the reason we have stayed together for last couple of years is for our daughter.Also financially as xtb only works part time.I couldnt afford to keep that house and rent somewhere.
The reason meshere are ordered though, is that the poorer party can,t afford to rehouse themselves, so selling and splitting the money isn''t necessarily going to solve this problem, unless the house is considerably bigger than their needs require. The cost of selling and rehousing can also eat up any equity anyway.
I''d imagine that whether to sell before or aftere divorce depends on your personal circumstances. Eg if your stbx would be entitled to benefits as a single mum and you sold before the divorce then gave her a lump sum, but she couldn''t get a mortgage due to low pay then she would have a lump sum of cash in the bank, meaning she was no longer entitled to benefits. So her income would be low, and you could be ordered to pay sm. however, allow her to stay in the house, she is entitled to benefits and is might be able to pay her mortgage herself out of cm, benefits and low wage. So, selling before divorce isn''t always the best option.
Thanks for reply.
Thats whats bothering me. the fact she will have to claim benefits and be housed,not in a nice area and it will be my fault.On the other hand i will loose the house and any profit in the house and she will have it all and still wouldnt be able to afford mortgage and bills...