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Wife Owns Second Home

  • telboy911
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21 Apr 12 #325627 by telboy911
Topic started by telboy911
:)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,
Terry

  • sexysadie
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21 Apr 12 #325639 by sexysadie
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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.

Best wishes,
Sadie

  • LittleMrMike
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21 Apr 12 #325663 by LittleMrMike
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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.
LMM

  • gotmysmile
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22 Apr 12 #325680 by gotmysmile
Reply from gotmysmile
I had this exact same situation nd the property was discounted at both FDR and FH.

EX would not accept it should be included as an asset and the District Judges agreed.

  • hadenoughnow
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22 Apr 12 #325688 by hadenoughnow
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Gms did your ex own the property outright or just have a share of it? That may have affected the judge''s view.

I guess some may treat this situation in the same way as an inheritance ie left out of the pot unless it is required to meet housing needs etc.

Hadenoughnow

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22 Apr 12 #325694 by gotmysmile
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He and his sibling are the legal joint owners. The was no legal trust for the parent to live there but an expectation of it.

Whilst I had no intention of taking a share ofthe home, I did think it should have been taken into account in the overall pot. Appartently not but thems the breaks:S

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