My husband and I were married for 5 years. We bought the house 50:50 for cash. He has taken out £280,000 to put into his business. Obviously I had to sign for that too. His business never got anywhere and I don't know how that money was spent. The house is now worth £380,000. Legally we have to split the equity half each, even though he was the one that spent the remortgage money - so I have already lost a lot of my initial cash.
In divorce I am told I may be awarded more than 50% as I have the children (neither of us live in house anymore by the way)
However, I have just had the rough costs back from the solicitor and Ancillary relief can run into tens of thousands. I know my husband will not play ball and will fight every step of the way so making it more expensive. The costs could be more than any extra money I get.
Is there any way of fighting for more of the equity without this added expense? Or should I just take my 50% and run. I also wonder if it would be better if I moved back into the house and refused to sell it?
I am furious that my husband has spent that vast amount of money but can still have some of what is left. Neither of us has an income at the moment and he has big debts in his name I believe, but he will not be open so no one really knows.
Well one obvious problem to the costs issue is to self represent through the court process. Its actually the solicitor costs that stack up fast - the court fees are very small in comparison.
The point about the business is - you clearly see it as "his". But im assuming that the money was taken from the house and invested in the business during the marriage. As the law views marriage as a partnership - really the business belonged to you both.
If it had succeeded and made millions then you would have wanted to claim a fair share of that. In effect you both in invested in the business and it didnt pay off.
If you believe some of the money was not genuinely invested but somehow squandered then you could pursue that issue and if you can prove than a large amount of cash was recklessly squandered then you may be able to make a case to increase you share higher than 50%. But this is not easy - you have to show a high degree of recklessness.
Yes if you move into the house and refuse to budge and take out injunctions against sale you could put a spanner in the works - whether thats a good idea or not i'll leave up to you.
Same story with his big debts - if they were incurred in normal family expenditure then the court may opt to net them off against your assets before you split whats left.
If they were incurred in reckless expenditure you may get courst to agree that he should retain them.
You can process your own ancillary relief case for a few hundred pounds. You have to make your own judgement as to whether you will come out badly if he hires a solicitor.