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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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she wants 50% of the equity if l buy her out

  • hadenoughnow
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12 Jul 12 #342726 by hadenoughnow
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The judge at FDR has no power to make an order. If you do go to FH it will be a different judge.

However it is quite rare for there to be a big difference between what is recommended at FDR and what happens at FH .... but the costs of going to FH can be very high. It is possible that you may be subject to a costs order .. if not an actual order then one by the back door - ie your ex woud be awarded a greater share of equity to cover her legal costs.

There is nothing that says you have to be housed in a mortgaged/owned property.
You could appeal to your ex''s better nature and even at this stage agree a Consent Order that allows you to remain where you are in the short term. Once you have finished studying, you may be in a position to buy her out? What will your earnings potential be?

Hadenoughnow

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12 Jul 12 #342735 by delta123
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This is my predicament that my ex has no good nature at the moment she don''t talk to me nor the two Chn l live with its a very very bitter divorce I have never seen anything like it in my life I just wanted 1 yr only and he said its too long we can''t wait now this is what worries me that no judge can here my case until FH and I have to pay her costs I am really stuck at the moment I know I can move to another accommodation but why now when my daughter is in full time education which means I will have to move everyone wen my course is demanding I am stuck u seem to b helping tho I hope u continue I will sit hear for a while my earning potential is not known but will b good I guess it''s a msc social work pliz keep talking to me

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12 Jul 12 #342740 by hadenoughnow
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delta

I am afraid that is just how it is ... You have had a very clear indication that there will be an order for sale. There are two younger children that need to be housed from a very small pot ... and their needs will take priority over the one child you have responsibility for.(the older one does not count)

Being too busy to move into rented accommodation is not going to cut any ice I am afraid .. Your best hope as someone else said is that the state of the housing market will mean selling takes a long time... unless your ex will agree to a deferred sale. I don''t think any judge would order this - as has already been made clear.

Were you given any indication of what the percentage split of equity may be?

Hadenoughnow

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12 Jul 12 #342773 by delta123
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Yes the judge said our housing need are the same and it will b 50/50 split really appreciate ur reply it sounds the best advice to follow I almost thot of stopping any mortgage payments so that I can begin saving money for a new home

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12 Jul 12 #342775 by delta123
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After the FDR what is the next then is there another hearing for the judge to decide or behave already finished this case

  • maisymoos
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12 Jul 12 #342780 by maisymoos
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The first Appointment is basically a Directions hearing relating to financial disclosure, the FDR follows this and if no settlement is reached its down to a Final Hearing

The judge at the FDR may (as yours did) give a indication of what may happen if the case reaches the Final Hearing. Between then and now you can still reach a settlement with your ex, if not the judge (a different one from the FDR) will decide what will happen at the Final Hearing.

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12 Jul 12 #342786 by hadenoughnow
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You can avoid a further hearing (and the possible consequences as outlined by the judge) by making her an Open Offer in writing to sell the property and divide the proceeds 50:50. You could include a deferred sale - ie house goes on market in one year - in your first Open Offer to see if she will accept that. You may also want to include a provision that you will buy her out (if you can raise sufficient funds) at the end of a year.

If she does not go for that, then you will have to just make an offer to sell - and hope that the house does not sell too quickly.

You will need this drawn up as a consent order (by a solicitor - or use wiki service)and stamped by a judge.

Hadenoughnow

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