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He wants 50% can he get it?

  • pandora
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03 Feb 08 #12657 by pandora
Topic started by pandora
I have been married for three years s2b ex moved out in October. He wants 50% of my assets and claims he has nothing but debts. He does have a good job and resonable income from that. I have owned the house for 8 years and the property has increased in value over that time. The debts he has are from business ventures that I have had no involvement in. Can he force me to sell and give him 50%. I have always paid the mortgage and household bills he made some contribution to the household while we were together, but considerably less than myself. Does any one know what the likely outcome would be?:woohoo:

  • DownButNotOut
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03 Feb 08 #12665 by DownButNotOut
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Pandora,

OK...first for some UK law principles..

In marriage you are in a 'partnership'...so everything you do is seen as joint....in your case you jointly made money as the house rose in value....and you jointly lost money as his business ventures went south.

Thats the bad news :(

The good news is that your marriage is pretty short and so he cannot really claim 50% of the assets that you held before the marriage....but he can claim some.

Here is a summary of the claims you have against each other:

- he could claim 50% of the increase in the house price since you married.

- he could claim some smallish portion of the house equity you had before you married. Perhaps 10 to 15%.

- you potentially have some claim on his future income (especially if you are a low earner) in the form of spousal maintenance

The business debts are a little trickier. I would hope that his losses are within the framework of a limited company...which limits his liability to debtors.

As an aside...who paid the mortgage and other bills during the marriage is of little relevance.

So in summary:

- he has some claim on your property...but not 50%....depending on its value at marriage vs price rise in last 3 yrs.....perhaps he might be able to claim 20 to 25% (big guess).

If you provided more financial details I could answer with more certainty.

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03 Feb 08 #12678 by pandora
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Thanks Karma,

You are very knowledgeable! I had the house valued yesterday and I am awaiting the report. How can I find out the increase over a given period? My s2bEx and I earn similar amounts, he a little more.:silly:

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