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What are we each entitled to in our divorce settlement?

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Do I have a right to any Equity in my old property

  • garyfromgoole
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17 Mar 08 #17051 by garyfromgoole
Topic started by garyfromgoole
I have been divorced for about 6 years now. Prior to my divorce, my exwife and I lived in the property in which she now lives with her new husband and my son. When I left the marital home, there were no formal arrangements as regards finances, child maintenance etc as we preferred it like that (split was amicable).

I decided to let her keep the house, on which she continues to pay the mortgage. I however, took on a considerable debt for other borrowings etc that we had accrued over the time we were married, so she could afford to keep staying in the old house. However, my question is this :- My name is still on the deeds of the house although I no longer pay any of the mortgage. However, up until the divorce, the mortgage was paid 50/50 and I was wondering if I am entitled to any equity from that house that had accrued up to the point where I stopped paying (around 5 years give or take)? i.e. if the house was woth 100 thousand when I left (we bought it for 50 thousand) would I be entitled to any of its value at that point ? The house today is worth about 185 thousand.

thanks

  • LittleMrMike
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18 Mar 08 #17144 by LittleMrMike
Reply from LittleMrMike
Can't advise, you need to see a solicitor.

Did you make any claims against your wife when you divorced?
Sounds as though you may not have done. If this is the case you can apply using Form A, but you need to leave of the Court and this is only given if

(a) you have a reasonable chance of obtaining the relief sought and
(b) there has not been an unreasonable delay.

Any delay is prejudicial to your case. If you are going to act at all, you must do so NOW.

Mike 100468

  • millie_muffin
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18 Mar 08 #17161 by millie_muffin
Reply from millie_muffin
Hi

At what point would the court decide that there was no chance of relief?

How would the time delay prejudice the application. Is this in a monetary value or does it imply that because you have lived with the money for so long then you no longer need it?

Millie:

  • attilladahun
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18 Mar 08 #17164 by attilladahun
Reply from attilladahun
When did you buy the property?

On the face of it you have a serious claim!!!
On the face of it 50% of the property value less mortgage and costs of sale divided by 2

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