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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.


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What would stop this?

  • swordsman again
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12 Feb 08 #13635 by swordsman again
Topic started by swordsman again
Wife moved out.

I am living in house and paying 100% mortgage since she left

She has son except every other weekend and once in the week.

She has a well paid job and can support herself to a reasonable standard.

She has suggested a 50:50 equity split, and allowing me to keep 100% of an inheritence I received after she left to buy her out of the property.

No spousal maintenance.
child maintenance to be paid.

I am happy with this - would courts force a different solution.

Also does anyone know the situation with regards to stamp duty when I am buying her out?

Thanks

  • sallyanne
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12 Feb 08 #13638 by sallyanne
Reply from sallyanne
my husband and i agreed everything between us.he stayed in the house until it was sold and then we split it 50:50. if you dont choose to go to court you dont have to . fill out a few forms and the solicitors follow your instructions. there is a comeback clause if problems arise. I am no expert but why involve courts if not necessary also people have said mediation ( not to get to get you back together)but sort out practicalities.. If you are both happy.....organise things yourself. I trust my ex but so many people have problems i may be naive

  • mummybear38
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12 Feb 08 #13645 by mummybear38
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If there is an existing mortgage you have to take half the amount to repay the mortgage and add to it any money that is being paid to the person coming off the deeds and if that comes to more than £125k then stamp duty is payable. However, if the transfer is as a result of a Consent Order under matrimonial proceedings then it is exempt anyway. Hope this helps.

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