We paid the mortgage off our main home and my husband then decided to purchase a flat in London as security for our future, just like a pension and has kept just his name on the details. The flat when built will be valued about £350,000. My question is. Am I entitled to half the estimated value of this property also, especially as it was ment to be for our future?
You imply that the flat is not yet built. Unless I have missed a great truth, you won't complete the purchase until it is complete and ready for occupation. Therefore I take it that what you mean is that you intend ( or your husband intends ) that when the flat is eventually bought it will be in his name. It can't be in his name if he hasn't yet bought it.
You don't say whether you would continue to live in the marital home and let the flat to give you an income, or whether you intend to occupy the flat yourself.
It would be normal for a solicitor to discuss with you the pros and cons of buying a property in joint names. The obvious implication, on the basis of what you say, is inheritance tax. Unless you want to make a large donation to the Treasury, it would be sensible to take advice on this aspect.
The other thing that puzzles me is that you have posted this on a website dealing with divorce. Are you having problems in that direction or am I simply putting two and two together and making five ?
A deposit had been put down on a new build flat and a mortgage will be taken out on completion next year. We were then going to rent the property out for a few years to cover the mortgage and in our retirement sell the flat to give us the financial support needed in our retirement, rather than taking out a normal pension scheme. All the documentation at the moment with regards to this new property is in my husbands name. We would be living in the marital home whilst the flat is rented out.
My husband wants out of our marriage. I don't. But if he does make the choice to end our marriage after 15 years, then I want to know what I am entitled too. Am I entitled to just part of the deposit, or as the flat was intended as financial security in our retirement am I entitled to more?
Sorry if my questions seemed muddled. It came as a shock to be told by the man you love that he wants only his career and I'm no longer part of his future.