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Repercussions of recent property inheritance

  • sosad
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19 Aug 07 #2171 by sosad
Topic started by sosad
Hi everyone

First time poster so much obliged for any help.Just starting out on this awful divorce process after 32 years marriage. Now separated from hubby who is living with someone else, also getting divorce. Two main questions (although many others!)He inherited a property last autumn from parents (only son)worth approx £180K, in his name only. My parents (I was also sole inheritor) died way back but house left to me and used in our house purchases along the way. An initial consultation with solicitor has revealed I may be entitled to his share of house, but not certain. Should I register my interest in it with land registry to protect my interest?

Also complicated by our situation I think: 2 grown up children, non dependant, marital home in both names value approx £350K and French house bought last year to start a B & B approx value now £150K but much more when renovations completed. I am retiring next year so low income after that, he can work for another 10 yrs at well paid job, new partner also earning. If all this is divided 50:50 as solicitor seems to think, once mortgage of £110K taken off I cant see my goal of him keeping inherited house, me keeping French house and split main home so I can have a base here (min £200K as most expensive region in South East!)ever coming off. Does anyone have experience of such a situation? It would be great to hear your views.

Many thanks:)

  • LittleMrMike
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19 Aug 07 #2173 by LittleMrMike
Reply from LittleMrMike
I am very sorry to hear about your problems, it is always sad to see a marriage fail after such a long time.

Just a few thoughts :

The position on inheritance is one of those areas where I do not think the law is very clear, which is probably why your solicitor didn't want to be too definite . What I think you can say is that where property was inherited many years ago, as in your case, then the fact that it was originally inherited becomes less important with the passage of time. But where the inheritance is recent, and your x2b already has it, then it forms part of the pot, but I would expect that your share in that particular asset would not be as high as 50%. But yes, after such a long marriage a 50/50 split would, I think, be very likely.

As to protecting your interest - well, if you can register a caution against dealings with the Land Registry then that would certainly be the most painless and cost effective way of achieving the objective. I think it is worth having a word with the Land Registry, I have always found them uniformly helpful, but if that fails, use your solicitor, it wouldn't cost an arm and a leg.

My immediate worry in your case is that your retirement is so close and what would you have to live on afterwards ?
You don't mention pension rights but they are very important at your time of life. I would most definitely want to know about that if I were advising you. I think I would want to know your respective earnings ; even if your incomes are sufficiently close that spousal maintenance would not normally be considered, a small order would make it possible for you to come back and ask for more after you retire.

I retired some years ago and what knowledge I had is out of date, but I do think, ma'am, that your situation calls for some creative thinking and I hope that you and your x2b are still able to talk about it in a constructive way, perhaps with the help of a mediator. mediation is not always an option but properly done, it can be the least stressful and the least expensive way of resolving the issues.

Good luck
Mike 100468

  • Fiona
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19 Aug 07 #2176 by Fiona
Reply from Fiona

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