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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.

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The four basic steps to reaching an agreement on divorce finances are: disclosure, getting advice, negotiating and implementing a Consent Order.

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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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Will a charging order effect her buying me out?

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06 Apr 16 #476513 by Bubblegum11
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Lipstickandlollipops wrote:

This is very interesting, do I take it that when the trustee in my husbands bankruptcy offered to sell me what had then become his (the trustee) interest in the property, he didn''t in fact have the right to sell it to me because the creditors with the charging orders had first dibs anyway? I must confess that I do feel something was very wrong with that process and needs looking into. One thing that strikes me now is that the official receiver and myself used the same solicitor, I had to send a cheque for £211, £1 to buy husbands beneficial interest, and £210 legal fees. I now realise that was quite possibly a conflict of interest.
Not happy at all!


Hmmm... I was in a very similar situation. My understanding was that if the final charge pre-exists the bankruptcy then the ex''s beneficial interest would be whatever is left after the charge is taken from his share. For example; Joint home value £100k with 80K mortgage. 50/50 beneficial interest to start with. Final charge on H''s share of £8k reduces his remaining beneficial interest to £2k. TIB sells you that interest.

The thing i''m unclear about is that it being a joint property the charge is not registered as an actual charge becuase it is only against one party, it is a restriction on the land registry. So is it really a secured debt?:unsure:

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07 Apr 16 #476541 by Lipstickandlollipops
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I have researched this for the last year and cannot find the answer, his is registered as a restriction on the property, but the creditor refers to it in their correspondence to me as a charging order. They (the creditor) know my situation and know I''m terrified I will end up homeless when the mortgage term (interest only mortgage) ends in 11 years time.

The original debt was for a business bank account of which I had absolutely no control over, he employed a dozen or so sub contractors to do the work he was too lazy to do himself and just paid them from business loans and overdraft, racking up a debt of nearly £40,000, (the restriction) then he swans off a few years later, starts a new life with OW leaving me with the worry.
To make matters worse, it''s very likely that the inland revenue will be after him at some point, to my knowledge he hasn''t submitted a tax return for over 10 years, letters used to come here almost daily for him from them, but since I started returning them ''not at this address'' no more have arrived, I''m pretty sure that they won''t just give up chasing him because he doesn''t live here anymore.
I used to nag him about being more responsible and to do things properly because I couldn''t stand the fear of that knock on the door from his creditors, bailiffs etc, which was a common occurrence until he was made bankrupt by one of his creditors.
I am wondering if this was all a part of his long term plan, whenever we argued he always said he would burn the house down rather than let me have it, so maybe this was his intention all along, to make sure when he found someone desperate enough to take him on I would loose the house.
This will be a nightmare to sort out when we divorce and I don''t even have the money for the fee to submit the Petition at the moment, let alone have a solicitor to fight my corner.
I wonder if this has anything to do with why I feel so desperate sometimes to have him back, so I''m not alone with this worry.

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07 Apr 16 #476542 by Lipstickandlollipops
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Really sorry, I thought I had started this thread, didn''t mean to hijack someone else''s.
My apologies

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07 Apr 16 #476549 by Bubblegum11
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Yes, we probably should have started a new thread :blush:
Doesn''t look like many people visit this section of the forum either.
I have a few questions;
Has your ex''s bankruptcy been discharged yet?
Do you have any children?
Is there any equity in the house?

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07 Apr 16 #476587 by Lipstickandlollipops
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One son (20) since seperation our son has paid to have the garage converted to a self contained annexe, this was always planned to happen but ex was going to do the conversion himself, but as always he let our son down so he did it himself (with the help of my brother)

Probably around £30,00 equity, but charging order amount is £40,00

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