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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.

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The four basic steps to reaching an agreement on divorce finances are: disclosure, getting advice, negotiating and implementing a Consent Order.

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sell of marital home

  • ksthomps
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07 Jan 08 #10161 by ksthomps
Topic started by ksthomps
Does anyone know if my ex can sell the marital home without telling me anything. he is the sole owner and after divorce we decided to go 50/50. The market has been slow. He has done upgrades to the home and improvements. There is little equity but after he sells can he subtract the mortgage payments he has made and the upgrade costs and give me what is left over from that. If he does that will leave me with nothing.

  • sexysadie
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07 Jan 08 #10173 by sexysadie
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You need to register your interest in the family home and then he can't sell it without your consent. Ask a solicitor to help you with this (or maybe someone else will post telling you how to do it). I don't think it's difficult but it is urgent.

He shouldn't be able to subtract any of the things you mention unless your marriage was short (less than five years, I think), in which case he should be able to take out what he put in.

Sadie

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07 Jan 08 #10175 by ksthomps
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This is what our settlement document states....

The parties have agreed that this real estate will not be sold and the Husband will remain as the sole owner, purchased prior to the marriage.
The Wife recognizes that by acknowledging sole ownership to the Husband, all rights to any current and future equity invested or to be invested in the real estate is being forfeited with the exception of the following : Upon sale of husband’s residence, wife shall receive a lump sum payment of $8,000 or 50% of the net equity from the sale of the home, whichever is the lesser amount.
This title shall be free of liens and encumbrances, except for the existing mortgage, which Husband assumes. Husband agrees to indemnify and hold harmless the Wife for any mortgage payments, taxes, liability and expense incurred in connection with this real estate. Wife waives any and all rights or claims to any insurance policies held in connection with said real estate, or the proceeds from any such insurance policies.

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We were married from 1996-2004. I moved out in 2004 which is when we got separated. We got legally divorced in 2006. He is getting ready to sell the house finally but is saying that he will only give me the left over after he has subtracted the cost to redo the exterior of the house (which was about $12,000 due to wood rot). Is this legal. The house was an older home. Also can he legally use the amount of equity in the house when we separated or does he have to use the present equity to date.

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