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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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Shutting the stable door.....

  • tarot
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19 Oct 07 #4955 by tarot
Topic started by tarot
Maybe i've left this to late to ask for advice...
I live in the marital home with my children (13 & 7) (currently worth £200k).
We originally had a mortgage for £130k.
X2b asked for £30k from the house so he can move on. I am in the process of buying him out (my new partner now living with me) I have only been to a solicitor with regards to putting the house in my sole name.
Do i need to seek advise about what ive done as its something we agreed on between us?
Im sure its ok but you never know....

  • hrm
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19 Oct 07 #4970 by hrm
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I'm not sure how it works in England.I live in Scotland-Just over a year ago I bought my hubby out( an agreed amount-less than half) and got a Minute of Agreement.He was happy to go along with that at the time because he could get himself somewhere to live.At the same time I got the house put into my name and took out a mortgage in my name.
Now he's complaining that he acted in haste and wants more-my solicitor tells me that the MoA is binding so hopefully my home( and that of my children) is safeguarded.
I imagine that a similar system is available in England.My big fear was that he'd go back on his word-which he did- but at the time I still trusted him and had faith in him-(misguided it would appear)
Hope this helps
:unsure:

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19 Oct 07 #4976 by hrm
Reply from hrm
I'm not sure how it works in England.I live in Scotland-Just over a year ago I bought my hubby out( an agreed amount-less than half) and got a Minute of Agreement.He was happy to go along with that at the time because he could get himself somewhere to live.At the same time I got the house put into my name and took out a mortgage in my name.
Now he's complaining that he acted in haste and wants more-my solicitor tells me that the MoA is binding so hopefully my home( and that of my children) is safeguarded.
I imagine that a similar system is available in England.My big fear was that he'd go back on his word-which he did- but at the time I still trusted him and had faith in him-(misguided it would appear)
Hope this helps
:unsure:

  • LittleMrMike
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20 Oct 07 #4985 by LittleMrMike
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The first comment that I want to make is something that you would get from any solicitor - namely that (s)he can't really be expected to advise you about what you have done without a full and complete knowledge of the financial situation of both parties.

The second is that the Courts, although they certainly favour the idea of parties making agreements of their own with regard to finances, have laid down certain principles which must normally be followed before an agreement might be enforced. These are :

(a) There has been a full disclosure of the parties' financial position ;
(b) both parties must have had access to independent legal advice ;
(c) the parties have had time for reflection, say 14 days, before signing the agreement.

My reaction to what you say is

Your ex still has to pay child support ;
There are other potential issues to be resolved, such as possible spousal support, pensions, to name but a few and your agreement does not take these into account ;
I don't know what stage your divorce is reached, but any delay in seeking to enforce what rights you have can be prejudicial ;
you should definitely not seek to back out of the agreement without getting legal advice first.

but having said this, the notion of buying your ex out for a relatively modest sum is sometimes not a bad solution as :

it avoids the problems you have when you eventually have to sell when the children reach 18 ; and
from his point of view, it gives him a modest sum now which he can use to make a fresh start and not have to wait 7 years or so for his money.

You need not feel shy about getting legal advice but do make sure you get it from an accredited family lawyer ( you will find a list in the Yellow Pages )

Mike 100468

  • tarot
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24 Oct 07 #5212 by tarot
Reply from tarot
Thanks for replies.
I have not entered into the divorce side of things yet. x2b suggested the above as he is fed up with renting and wants to buy a place with new partner. As for cm, i get the 20% and as my new partner lives with me, i do not get sm. We are both fairly young (me 38, x2b 39) so i do not intend to take his pensions. Proberbly sounds abit strange to alot of you. I dont agree with these women who try and screw everything out of the partners. My x2b did nothing wrong, so why would i punish him by taking his pensions.

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