My estranged Husband has assumed that I will sell the house and give him 50% of the equity which my solicitor says is the norm. The problem is I really can't afford to move. I would go from a 3 bed semi to a 1 bed flat, whereas he has moved into a house with his new woman. My question is, can I just do nothing and if he stops payong towards the mortgage, just take over the paymenst on my own? What could he do?
You would nneed to post a lot more information before someone can give you some reasonable advice.
- Your ages
- How long together, how long married
- Any children? How old? Who will be primary carer?
- How much is house worth?
- How much equity?
- How was it funded? Who put what in?
- Is it in joint names? Who pays motgage?
- Do both of you work?
- How much do each of you earn? Any bonuses etc?
- Any significant assets over £500.00?
- Any savings, pensions, investments?
- Any debt? Whose debt?
Very intrusive, I realise, but the general rule is to add up all the assets, deduct the liabilities and split the rest according to need, usually starting at 50:50.
If he started proceedings for divorce, he could request a sale of the home from the court, unless you have dependant children. If you could afford to 'buy' him out, then you can. Very general
advice, so post the details above and someone can give you a sensible answer.
Don't panic though - there are many ways to skin a cat, metaphorically speaking.
mine is doing nothing and just wants the house repossessing so i end up homeless and penniless. i cant afford to buy out, i cant afford to live anywhere else. mean while she is living in luxury and me and the kids have nothing. so they can do nothing and wait till you go under, mine just laughs at me, sol cant do anything as i have no money to pay her and i was turned down by legal aid for some reason that the sol cant figure out.