Hi, My name is Terry & I’m a new member of this site considering divorce.
I have been married 31 years and have no children.
My wife and I have a number of assets such as savings etc.
However, about 8 years ago my wife’s mother and aunty transferred the ownership of their property to my wife. This was done to avoid a possible claim by the local authority (council) for the House be sold to pay for Residential Care in the event one or other needed this.
I have joint ownership of the matrimonial home, but would like to ask the forum how I might stand Legally in making a claim for 50% ownership (as part of a financial settlement) in my wife’s second house, which she will in time sell off or rent out.
Thanking you in advance for your time & help,
It will go into the marital pot for division like everything else. The fact that is was transferred as a way of avoiding residential care charges will not alter this. Depending on other financial things, you may well be able to make a claim for a proportion of the value of this property.
It''s high time that some people got it into their heads that this type of arrangement ( transferring a dwelling into someone else''s name to avoid care home charges ) has all sorts of risks, and the kind of situation highlighted here is only one of them.
For example :
1. The recipient of the gift may die before the transferor, in which case the property might become vested in a stranger.
2. The parties may fall out ;
3. As is the case here, the recipient of the gift might get divorced.
4. The worst risk, from the donor''s point of view, is that the recipient may go bankrupt, when the trustee might not be bound by the tenancy.
So where does this leave us ? I have had one or two cases where this situation arose, and I don''t recall what happened. Yes, it does indeed form part of your wife''s assets but it would probably have trusts or a tenancy for life attached to it, which would make its value questionable. But yes, she has it, and even if you didn''t make a claim on it, the fact that she had the asset might affect the way the Court distributed the other assets.