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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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should I take it?

  • suzy_sue46
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02 Nov 07 #5729 by suzy_sue46
Topic started by suzy_sue46
Hi, please use your experience to see whether I should take my husbands offer.

Been together just over 3 years, married for just over 2, have a 20mth old. Moved to MH 18mths ago and I put 1/3 deposit down from my previous sole named property sale. I also bought a car for £7k now worth approx £4k - he part/ex worth £1200 at time, and he has helped me spend £20k in a year as well as running up a £3k credit card debt on top of the £2k he already owed. I also has £10k in bank sole name. He has a child to a previous marriage who he currently pays £280mth for but is looking to reduce it. Neither has a pension worth much

If I agree to petition he will
Pay me £250 mth child maintenance (CSA 1/2 20% due to 2 absent kids is £154)
Let me keep all the house equity and my savings as well as £500 in joint account.
He would pay all the costs associated with the mortgage transfer and Land Registry and pay half of the court costs.
I would have to pay my own solicitor fees in return he gets to keep the car. I think it`s fair, any comments appreciated. Not going to contest divorce as what`s the point he clearly doesn`t want to remain married and I have to thik of my little one.

  • i.mann
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02 Nov 07 #5733 by i.mann
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Im not an expert but from the little I have gathered it does sound fair. The marriage only lasted 3 years and as both of you don't have much I would take it and put it all behind you.

  • Sera
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02 Nov 07 #5740 by Sera
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I'd bite his hand off honey!!!!!

Wow, that you didn't have to fight it. It sounds like he's allowing you and son to stay in the home, your mortgage taken care of, the child maintenance paid.

Yep. Sounds decent.

Two words of caution: Firstly, if you contested it and went to fight for more in Court, I doubt you'd get more. Chances are it would cost many, many thousands in legal fees to dispute.

Secondly. If you ask a solicitor to draw it up as a legal document, and have a Clean Break agreement, whereby he cannot make a further claim against you. If you do not have it legally agreed, he could come back in a few years, and try to claim against the equity he put into the house.

This certainly sounds like a very civil offer.

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02 Nov 07 #5741 by Sera
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suzy_sue46 wrote:

Been together just over 3 years, married for just over 2, have a 20mth old.


Also, this is a short term marriage. He could argue that he wished for any equity put into the house, which could turn into you buying him out instead.

You have a young child, so court could order that you stay in the house, although he could retain his percentage, although not able to realise it until child 18 or finished full-time education. Then he could force a sale, you'd have to downsize, or buy him out.

That he's not asking for return of his equity in a short-term marriage, makes this an exceptionally generous offer!

  • sexysadie
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02 Nov 07 #5742 by sexysadie
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Looks good to me too, though if you can get the additional child maintenance written into the court order and if possible have it index-linked (this can also be written into a court order). It won't go so far when your 20 month old is 15!

Sadie

  • suzy_sue46
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02 Nov 07 #5746 by suzy_sue46
Reply from suzy_sue46
Thanks guys, I thought it was. I`ve already tried the inex linked but he says no way. So I`ll ask for the court order to be written out that should a subsequent CSA calculation be lower he still tops it up to £250, is that something that I could do>

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