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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.


Selling The House

  • vwtone
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17 Apr 12 #324569 by vwtone
Topic started by vwtone
My wife and i have agreed to sell our house and split the proceeds 50/50.
She has seen a solicitor and he has told her that divorve proceedings must be in process for us to sell the house. Is this correct?

  • WhiteRose
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17 Apr 12 #324578 by WhiteRose
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Hi VWtone,

Welcome to wiki!

Yes, your sol is right - usually Finances get agreed and drawn up into an Order after Decree Nisi but before the Decree Absolute.

See link for step by step guide:

www.wikivorce.com/divorce/Step-By-Step-G...de/Introduction.html

Great that you are in agreement :)

WR

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17 Apr 12 #324592 by vwtone
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what happens if we sell the house and havn''t started divorce proceedings? Surely a conveyancer would pay the money into a joint account and we can split it between us as agreed.

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17 Apr 12 #324597 by Eva18
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Hi there vwtone

I''ve been looking into the very same thing myself recently and going round in circles with all the research.

We neither of us can afford solicitors/court fees to start proceedings plus we are only 6 mths off for the grounds for divorce to be on 2 years separation anyway. We don''t want huge amounts of equity to go on fighting it out in court and are trying to use our heads rather than emotions.

I have contacted the solicitors that originally did our conveyancing and they are the first ones that havent been pushy and trying to railroad me into costly divorce proceedings (that can come later), they confirm upon a house sale we can split the equity as long as we are both in agreement with how it''s split (your 50/50) would therefore be straightforward. This can then be drawn up in a ''deed of separation'' (if straightforward max cost to us £200) but costs vary you can get them online, but apparently these can sometimes form the basis of a Consent Order during divorce if its worked well, but the judges will also consider how it''s been put together and what thought has gone into it, and I suppose still overrule it, that''s why I would do ours via solicitor that will be doing our conveyancing upon a sale and it keeps it all together too. Im sure it depends on your situation, if its amicable and you''re both in agreement then its an option, I think it''s where we may be headed to get things moving as there is enough equity in the house for us to both move on (just) and will be downsizing etc.

As I say I''ve had to look into this as I wanted to make sure all angles were covered before I put the house up for sale, as if we did get a sale and finances werent sorted out then although the est agents work on a no sale no fee basis if we''re at the stage of exchanging contracts and finances aren''t sorted, I didnt want to be the one faced with a fee for lost sale, and whilst I could just sit here in the FMH and do nothing whilst abusive ex is renting in a ''not v nice'' to be polite bedsit I have to think that is where my daughter has to stay too when she''s with him, and of course I do realise hes entitled to his equity and well, sometimes its better to move on isnt it, just wish there was a quick and easy way for it all to be over.

Hope the above helps a bit, good luck.

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17 Apr 12 #324598 by WhiteRose
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If you''re in agreement see this link:

www.wikivorce.com/divorce/Solicitor-Managed-Divorce/52.html

Costs are + court fees, but its a very reasonable offer!

WR

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17 Apr 12 #324599 by WhiteRose
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Eva18 wrote:

and whilst I could just sit here in the FMH and do nothing whilst abusive ex is renting in a ''not v nice'' to be polite bedsit I have to think that is where my daughter has to stay too when she''s with him, and of course I do realise hes entitled to his equity and well, sometimes its better to move on isnt it, just wish there was a quick and easy way for it all to be over.


Love this - a refreshing way of thinking - I admire you!

WR x

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17 Apr 12 #324600 by vwtone
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thanks Eva,your at the same stage as me,only 6 months to go and then it will be 2 years of seperation,so don''t want to go down a costly divorce route.
Hope all goes well for you
Tony

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