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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.


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  • emma1010
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14 Apr 12 #323703 by emma1010
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  • maisymoos
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14 Apr 12 #323717 by maisymoos
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Emma

If the home is the matrimonial home I believe it makes no difference where the money came from to buy it. Please correct me somebody if I am wrong??? I believe it will be regarded as a matrimonial asset by the virtue of how it has been used within the marriage.

How does he plan to hide these other properties if I were you I would be proactive and start collecting evidence. If they are registered with the land registry you will be able to print of the deeds for about £5, providing that is you know the addresses.

  • hadenoughnow
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14 Apr 12 #323719 by hadenoughnow
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Emma

On another thread you have been asked a number of questions to which we would really need to know the answers to advise you effectively.

If you have moved seamlessly from cohabitation to marriage then the full length of the relationship will be counted. The fact that you have a child is also an important factor.

Having said that, your strict need is for a two bed place - and if the FMH is much larger than that you may not be able to stay there for that reason. The affordability of remaining in the FMH will also be important.

Without knowing the full financial picture, it is hard to say exactly how this will go but I would imagine you would end up housed - even if you have to get a mortgage to buy him out - and will be able to use as much of the equity as you need to achieve this. It is possible that his other assets are such that the FMH value is a small proportion of the marital pot and as such could be transferred solely to you.

He will have to pay minimum 15% of net income for child maintenance and there will likely be at minimum nominal SM ... at least until your child is 18 .. and possibly more depending on any disparity in incomes.

You have been advised to register matrimonial home Rights and should do this without delay.

Hadenoughnow

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14 Apr 12 #323726 by emma1010
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14 Apr 12 #323757 by LittleMrMike
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Hmmm, this is quite a complicated one.
I strongly endorse the advice to register matrimonial home rights against the property.
There is an article which you will find in the Library entitled " A guide to what to consider before starting divorce " ( which you will find under FAQ''s and " sorting out the finances " ) and I think you may find this quite helpful, ( at least I hope so,as I was the author of it ) and it seemed better to refer you to this rather than go through reams of explanations.
The crucial fact is that you have a dependent child and it will be a priority for the Court to make sure that she, and you as primary carer, have somewhere to live. But there are two factors that strike me here. The first is a comparatively short marriage ( though the Courts can and do take into account pre-marital cohabitation to some extent ) and the second is that you have a comparatively high income. We often come across cases where the husband has to leave the marital home and has to go into rented accommodation and will not see any cash from the home for ten years or more. This does not sound like one of those cases.
But you seem a bit vague on the assets and without that information it is hard to be precise. You are going to have some interest in the marital home, but how it is realised depends on the assets he has. For example, the house might be sold and the proceeds divided ; but he might be able to raise enough to buy your interest out, and on a hopefully informed guess I would say this is a reasonable possibility. He will have to pay you child support and if he is a high earner then 15% will be a tidy sum.
So I''d say, read the article, but don''t worry too much about being homeless ! The Court will make sure you will not be.

LMM

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14 Apr 12 #323768 by emma1010
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14 Apr 12 #323778 by Forseti
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If he doesn''t want shared residence presumably he will want some level of contact? Or does he just imagine he can cast the two of you destitute out onto the street?

Fortunately we no longer live in the 17th Century and I look forward to hearing about him getting his comeuppance. He really comes across as a bit of a cad. Good luck, Emma, and I hope you keep posting!

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