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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.


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Equity in property

  • kirsty0603
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23 Jan 08 #11537 by kirsty0603
Topic started by kirsty0603
Hi, myself and my husband are separating, We have a 15 month old baby and have been married to 3.5 years. We are based in scotland

What i'd like to know is, we bought our house just before we got married and i sank the £13,000 i got from the sale of my flat into the house, plus £5,000 gifted to me from my parents during the marriage.He brought nothing but debt to the relationship (all of which is in his name despite my wages paying for it at the moment) Am i entitled to this back? there is very little equity in the house over and above the money i put in.I intend to stay in the marital home with our daughter. If we have to split the equity 50/50 i would not be able to afford the house.

Also i earn significantly more than him. (i earn 22k he earns 12.5K)is he entitled to claim some of my wages even if i've got our daughter?

I don't want to take advantage of the situation but i do want to make sure our daughters future is as secure and as uninterrupted as possible.

THanks,

Kirsty

  • Fiona
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23 Jan 08 #11549 by Fiona
Reply from Fiona
The relevant principles for sharing the property are that the property should be shared 'fairly' (usually equally)and the economic burden of caring for children should be shared.Also s10(6)b Family Law(Scotland)Act 1985 relating to special circumstance which must be taken into account are-

"the source of the funds or assets used to acquire any of the matrimonial property where those funds or assets were not derived from the income or efforts of the parties during the marriage;"


As the equity isn't a huge amount I think these are arguments you can use for retaining the equity. Also as your income is less than average you won't be expected to pay maintenance.

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