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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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how is fmh proceeds split

  • yferch
  • yferch's Avatar Posted by
  • Senior Member
  • Senior Member
02 Jan 08 #9840 by yferch
Topic started by yferch
If the courts decide that the FMH must be sold when the children are 18 are the proceeds based on the value and equity at the time the court order is made, or value and equity when the house is sold.

I have sent my ex a Clean Break financial Consent Order, before finalising my absolute and am waiting for his response. Even though he earlied signed the house over to me, I have a feeling his new partner may decide to push him into going for a share in the house.

It is currently at negative equity due to it being on a right to buy charge for the next five years.

If anybody could advise I would be very grateful.

  • DownButNotOut
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07 Jan 08 #10179 by DownButNotOut
Reply from DownButNotOut
The main benchmark for the court is the value of the assets at the date of the court hearing.

If the house is in negative equity then in my view there is no equity.

So nothing to share out.

So if the house is being transferred to you as part of the clean break then i would say that any future increase in value would be yours.

The only element i am uncertain of is the right to buy charge. I do not know how this works.

  • TMax
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  • Platinum Member
  • Platinum Member
08 Jan 08 #10189 by TMax
Reply from TMax
think I would let council have it back if you wanted to stay there.

  • Specialdad
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  • Platinum Member
  • Platinum Member
08 Jan 08 #10198 by Specialdad
Reply from Specialdad
Downbutnotout is right its based on the time of the consent order.

On receiving the order, get the house and mortgage in your name.

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