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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.


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  • livinginhope
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23 Apr 12 #326060 by livinginhope
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Unfortunately it wouldn''t work in those circumstances you need to be sure of your finances before committing to buy.It would however mean you would be in a good position to proceed without having to sell when everything is sorted out as the property would already be sold.

  • survive
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23 Apr 12 #326097 by survive
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Hi,

if it is an RX1 restriction that has been placed on the property, then the person who put the order on has to be the one to ask for it to be removed with an RX3, this can be quite complicated to complete.

If you can''t agree to remove this restriction between you, which I would advise, then it will be up toa judge to decide as part of a Consent Order

Survive

  • dukey
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23 Apr 12 #326104 by dukey
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Many thanks survive I had hoped you would clarify.

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24 Apr 12 #326169 by cookie2
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livinginhope wrote:

It would however mean you would be in a good position to proceed without having to sell when everything is sorted out as the property would already be sold.

Hmm I would respectfully disagree. I think having a big lump sum of cash is worse in this situation, than having a pre-marital property that was never used as a marital home. If the property is sold then it would be much easier for the ex wife to get a share of the money, than it would be for her to try to claim a beneficial interest in the house.

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24 Apr 12 #326174 by rugby333
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Listen to Cookie here - do not sell the asset until this is sorted out properly otherwise a judge will just give her a portion of the cash.

  • soulruler
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24 Apr 12 #326180 by soulruler
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I agree with cookie also. I would add that the fact that she has managed 4 years and the additional fact that you are now pregnant (so new children are a factor as well as assets aquired before marriage) should be taken into account - you need to point out he now has other dependents.

Sell the house and it is going to be much easier for a claim for cash whereas if it produces an income (which he can declare) then the situation is different.

Cash is a carrot for continued litigation and on that basis alone I would urge your partner not to sell and to continue to be a landlord.

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24 Apr 12 #326199 by apower
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I really dont know what to do, between us we have 3 dependant children and another on its way in 8 weeks, his children come and stay on the holidays ie summer etc and there just isnt enough room in the 2 bed flat to have 2 adults,3 children and a newborn baby!
Can we not get a court order enabling us to sell the property stating their will be financial loss (other properties are now on sale for a lot less than our buyers price and in better condition meaning the equity in the place will fall dramatically) that there are other young dependants involved and that without selling and buying a bigger property his children will not be able to stay and visit for long periods (they live 300 miles away)thus causing them a disadvantage?? If we dont sell this property we wont get the same price again, we sold for £110k and other better condtion properties of the same stature in the same road are now on the market for a guide of £109k, which means they will basically go for around £105-£108k... because his property is not in as good condition, ie the kitchen needs doing, it will go for a lot less, say £100k or just over. That could mean an equity loss of about £10k??
Whats the best option here???
I apprecite all your comments, thank you

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