A well respected, award winning social enterprise
Volunteer run - Government and charity funded
We help 50,000 people a year through divorce

01202 805020

Lines open: Monday to Friday 9am-5pm
Call for FREE expert advice & service info


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.


Do you need help sorting out a fair financial settlement?

Our consultant service offers expert advice and support to help you reach agreement on a fair financial settlement quickly, and for less than a quarter of the cost of using a traditional high street solicitor.


split of finances

  • gizmo34
  • gizmo34's Avatar Posted by
  • Junior Member
  • Junior Member
More
03 Feb 08 #12697 by gizmo34
Topic started by gizmo34
Hello,

i am looking for some sound advise as it seems no solicitor wants to give me advice just wants to take my money!

I lived in my mothers council house since 1984. My mother sadly died in 1993 and i took over the tenancy of the property paying rent to the council. In 1997 my partner then moved in and I had the right to buy the property. I did this and put my partner on the joint mortgage, as she was pregnant with our first child. We then went on to have one more child, and later married in 2003. i must stress although in name, no money towards any of the bills came from my wife as she was brnging up our children. We then split in jan 2005 and still after 3 years going through a lengthy divorce.

i need to know where i stand in terms of the property. i understand that until she cohabits or the children reach 18 i am responsible for maintaining a roof over their heads, however, my partner is in a relationship and seems to be working the system in terms of the three day week rule. How long can this go on? we have around £150, 000 in equity in the property and she maintains that i would only be entitled to a 60/40 split or indeed less than that. She claims she is now working, and has a chance of buying you out. At this stage, would i be entitled to less than 50%? My circumstances as such is that i am now unemployed, living with my ex partner as i have no where to go, and feel that the amount of equity in the property would indeed provide a roof over my children's heads as well as allowing me to make my own way in the world.

i am feeling a little useless right now and would welcome any imformation relating to the above.

Best regards

  • attilladahun
  • attilladahun's Avatar
  • Platinum Member
  • Platinum Member
More
03 Feb 08 #12737 by attilladahun
Reply from attilladahun
I personally consider that although you made a significant contribution in being allowed to purchase the Council House of your late parents the interest was purchased JOINTLY.
Now if your W has a new partner she clearly has an intention to remarry or cohabit with why should she get more than 50%
Certainly not to capitalise SM or
to adjust for pension as Mrge so short nor
Because W is bringing up C alone as in essence W is living with Ptnr
(By the way there is no such thing as a 3 day rule -each case determined on merits!)
My circumstances as such is that i am now unemployed, living with my ex partner as i have no where to go, and feel that the amount of equity in the property would indeed provide a roof over my children's heads as well as allowing me to make my own way in the world - Very strong argument under s 25 MCA 1973 on basis of need.....you should argue a sale of FMH or that W buys you out 50%

In fact, the relevant principles are set out in Section 25 of the Matrimonial Causes Act 1973 which, essentially, reads:-

"25 (1) It shall be the duty of the court in deciding whether to exercise its powers .... to have regard to all the circumstances of the case including the following matters, that is to say -

the income, earning capacity, property and other financial resources which each of the parties to the marriage has or is likely to have in the foreseeable future;

(b) the financial needs, obligations and responsibilities which each of the parties to the marriage has or is likely to have in the foreseeable future;

(c) the standard of living enjoyed by the family before the breakdown of the marriage;

(d) the age of each party to the marriage and the duration of the marriage;

(e) any physical or mental disability of either of the parties to the marriage;

(f) the contributions made by each of the parties to the welfare of the family, including any contribution made by looking after the home or caring for the family;

(g) ...the value to either of the parties to the marriage of any benefit (for example, a pension) which ... (by reason of the divorce) ..that party will lose the chance of acquiring;..."

Moderators: wikivorce teamrubytuesdaydukeyhadenoughnowTetsSheziLinda SheridanForsetiMitchumWhiteRoseLostboy67WYSPECIALBubblegum11