Sorry for all you people that have read this, but i didnt get any replies:( , so I thought I would try again.
My X and I have lived in 2 homes together as husband and wife. My name was not on either mortgage (i was studying so could not get a mortgage but worked part time and contributed to the homes financially).
Both properties have since been sold and she has now bought a house with her new partner. They are due to have a baby any day and so she is currently on maternity leave.She has told me that all the equity from both homes has now been spent and she has none of the money left.
I am about to start divorce proceedings and will be looking for a 40% share from the equity of both homes. Can I be ordered to wait for this money (as she claims she does not have it) or will she be ordered to obtain it somehow. We have a 3 year old daughter who lives with my X, who I pay mainenance for.Thanks in advance for your feedback
You say your name wasn't on the mortgage but was it on the deeds?? Two different things.
Anyway whatever the case may be as long as you have proof that you contributed to both homes ( I take it this meant you lived in one house then moved to another??) and the fact that you have a child together should go someway for you to prove your case. Its proof you need.
For example: it was a very long time ago but my mum lived with her partner for 10 years when he suddenly decided he wanted someone else. It was his house all paid for she didn't have her name on the deeds. However, my mum was able to prove that she had contributed to his home for that 10 years and was eventually awarded 10k!!!! This was about 28 years ago well before people truly accepted co-habitees!!! I know you were married but what I am trying to say is that if it worked for her then it should definitely work for you now!!
The courts can only split what there is. What has she done with the 'equity' from the two homes you shared?
You will both have to provide a full, honest financial disclosure, from which to split. Usually they will have to consider the 'needs'. She has her needs housing needs met, (and that of the two children), and I assume you do too?
If she's re-invested the equity in a new home, (and you're still married to her), she will need to declare those assets. (Although if she can't afford to make a settlement to you, the court may 'ear-mark' a percentage of the ownership to you, which I doubt you'd see until the kids reach 18).
Your rights to claim will probably come from your contribution, and if that includes DIY to increase the value (as apposed to actual mortgage repayment), then again, provide as much as you can.
If it was deemed a 'short-term' marriage, (and she brought those homes to the marriage), it can be deemed that each party be returned to their pre-marital status.
I'm in a similar boat, I registered my 'matrimonial home Rights', (which prevents him selling over my head), but your homes are alreay sold, so it'll be a case of you being awarded a 'lump-sum settlement'.
If you provide a bit more info, ages, etc; you might get one of the very talented legal forumites to reply.
Thanks for feedback. Yes,we got our first property just before we married and then we moved about a year later to our second home. We were married for 3 and a half years (and have a 3 year old daughter). She now lives in a property with her partner, my daughter and newborn baby (his, not mine). Both her and her partners names are on the deeds and the mortgage of the new home. I am not sure what she done with the equity from the sale of both our homes, maybe she used it as a deposit for this home, but im only guessing.
I thought I had read somewhere that because she has been living with her current partner for more then 6 months, I can request my share of the equity from both homes now, rather then having to waiting 15 years (for my daughter to reach 18). Or will the courts decide that one?? Im only guessing that i get 40% of the equity, i just assumed that because she has my daughter living with her, its a 40/60 split.