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What are we each entitled to in our divorce settlement?

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  • candyk3000
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11 Oct 12 #360417 by candyk3000
Topic started by candyk3000
I was wondering if you can help me out....just a bit of advice. I am in the middle of my Divorce and not represented by a solicitor so i am trying mly best to get guidelines.

My husband''s lawyer posted me a letter last Saturday giving me a choice of either stay in the matrimonial home for the next 5 years or buys me out at 15k where the property is worth 200k. There are other 2 properties of which are rented one of which is preacquired and the other one was acquired 2 years ago where I even have my ex boss currently renting it. Amongst the 3 properties, my husband didn''t placed me in any of the properties but if there were problems, the tenants in the house normally contacts until recently. He is already based in Holland since Dec 2009.

We got married in 2005 Sept 18 and physically separated in 2009. I have 2 kids from a former marriage which I give maintenance to of £200/ month and I only earn £15k gross per annum. He earns 60k a year.

I want a Clean Break and all would not have nothing to do with ex any longer.
I have placed my name on the matrimonial house recently so to protect myself not being evicted after I have signed the Decree Absolute.

My questions how much am I entitled for as wanted to have my own place and start a new.

Please help.

  • LittleMrMike
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12 Oct 12 #360556 by LittleMrMike
Reply from LittleMrMike
Oh dear - must have got out of bed the wrong side today.
Initial reactions.
1. The basic objective is that both of you have somewhere to live. But usually there''s only one house and there has to be a loser. Where there''s more than one, then the job of finding homes for both is naturally somewhat easier. How you actually go about doing that is basically a matter for you to decide - or the Court, if you can''t agree,
2. As an aside, I was mildly amused to your reference to having your former boss as a tenant. There is a story , and I believe it''s true, that in the good ( bad ) old days, depending on your point of view, there was a maidservant who, by one means or another, was the owner of a house, where she was employed ,and her mistress was her tenant. Well, that was a novel way of guaranteeing security of employment.
3. First question. The FMH, is it in your sole name ? I assume it is if you have registered matrimonial rights. That''s fine, but be aware that your rights end on divorce, ie Decree Absolute. It''s possible to apply for an extension of your right to stay ; but be aware of the point.
4. What you concerned about is the equity, not the value of the house. If the house is worth £200K and the mortgage is £185 K then an offer to allow you buy him out at £15K is fair.
5. If you pay maintenance that implies - I assume - that the children live with him. Now normally the Court will give priority to the childrens'' need for a home. In the great majority of cases the carer is the mother and that gives the mother a head start when the Court decides who lives where. But as we''ve been talking about unusual situations, this is another of them. If the father is the parent with care, the advantages are on his side.
6. You say you want a Clean Break. Now the disparity in your incomes would normally suggest that he might well have to pay you spousal maintenance. But that would prevent it from being a clean break. A clean break is where the parties go their own separate way and make no further financial demands on the other. A continuing financial tie means it isn''t a clean break. Many people on this site say they want a clean break, but it''s like happiness, it means different things to different people.
Well, that''s a start anyway. But yours is a complex case and would require a more detailed investigation.

LMM

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