Ive prepared form E, ready for exchange next week.our matrimonial is in negative equity by around 15k.
I also own 11 other properties which are collectively worth -74k.
in this situation what can the courts do with regards to a settlement.
I would very much appreciate some comments so please let me have your views
I assume the 11 properties are rented out and the income from this constitutes or supplements your salary? I think these properties would be regarded in the same way as a small business, rather than a debt/asset they would be an earning vehicle. If that is the case then you would simply keep them and the rent would form your income.
In a situation where there is negative equity in the matrimonial home which is jointly owned. My pension which is not cash able but pays monthly at just under £200 which I use for living expenses together with a small income of 5k net per year.
Basically my assets are - 30k
My annual income is 5k net
My wife''s income is around 15k with no assets other than the joint liability for the family home which has a negative equity of -15k.
In this case what do you think the courts will decide in the respect of financial orders
Please give me your opinions