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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.


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.


Financial split of property in Scotland

  • Mag_S
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04 Feb 08 #12826 by Mag_S
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I am about to be served divorce papers on the grounds of separation, I am led to believe that she has told her lawyer that the arrangements for the property shall be decided between ourselves without lawyers being involved.

Can someone tell me if this is correct, as I would of thought that some legal arrangement regarding the property would have to be made, before the divorce could be granted.

Any help would be greatly appreciated

  • Fiona
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04 Feb 08 #12841 by Fiona
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Don't sign divorce papers until the finances are sorted. In Scotland the divorce decree isn't granted until all the finances and arrangements for any children are settled. The simplified divorce form has a box you tick to agree there are no outstanding financial matters and if you agree you can't make any claims in the future.

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05 Feb 08 #12892 by Mag_S
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This is not a simple separation as there is an 8 year old child involved. She seems to think that she can remain in the property and that we can sort out a financial arrangement regarding the property in the future.

Surely the court will want to see an arrangement for the property, I cannot believe her lawyer will accept such a noncommital arrangement.

As far as I am aware there are three options she buys me out, she sells the house to me, or the house is sold outright

Does anybody know what is correct

  • Elle
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05 Feb 08 #12948 by Elle
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Hi Mags,
Your 3 options are correct, with a multiple of possibles to consider. If you cannot agree on options, figures, dates etc....it will be left for the Court to decide....and that is a bit like the lottery
Elle

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05 Feb 08 #12952 by peteringout
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Hi Mags,

In the same situation just now myself (see earlier post). Technically split is 50:50 however, other arrangements can be agreed. Same as you suggested or, as in my case 75:25 in her favour. Thought that started out as OK, she now want more given my income is much more than hers!!

Peter

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05 Feb 08 #12970 by Mag_S
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Peter, thanks for that, but the problem is we have been separated for over 5 years and in that time no Separation Agreement was drawn up. Does the court just accept that we will decide something ourselves or do I have to get something drawn up with the options.

She says i do not have to go to a lawyer which would suggest she is hiding something.

If we get divorced with nothing legal in writing what happens then?.

She earns more than me, has a better pension and there is no mortgage as I bought the property with a property I already owned and a loan from my father.

Am I being unreasonable in getting her to put some thing in writing that the house will be split 50/50 on the date of divorce or a mutually agreeable time in the future

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05 Feb 08 #12972 by peteringout
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Hi Mags,

I should probably not do this but I can send you a copy of a Separation Agreement and you can adapt it to your own circumstances. Send me a private message with your email address and I will send this to you.

Peter

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