I am currently going through a divorce.
We have sold the family house.
Initially my wife agreed that we split the proceeds 50/50.
We have another property in Portugal. I have agreed with my son that I would let him have my share of that property and he has agreed that he and his mother would deal with the outstanding mortgage. I will be making no claim on that property.
My wife is now insisting that she wants the Portugal mortgage (£20k) cleared before we split the proceeds of the UK property.
The funds are sitting with the solicitor who dealt with the sale of the UK property.
Is it right that the solicitor can hold on to all the funds until my wife arrives at a decision?
I need my share of the funds to buy a flat as I am living in temporary accommodation and I cannot invite my son to come around.
What stage of the divorce have you reached?
This is not about your stbx deciding what she wants; it is about your respective needs and how they can be met from the marital pot.
These needs are for housing and income, now and in the future.
Assets will include property, savings, pensions etc in sole and joint names. Debts, if they are marital, will also count.
You need either to agree a settlement and get a Consent Order stamped by the court or, if you cannot agree, fight your way through the courts and ultimately a judge will decide the settlement.
You can have a legally binding settlement once you have a Decree Nisi.
I have passed the Decree Nisi stage. I attended court for Decree Absolute. My X mentioned the pension and the Judge did not grant the divorce and asked us to sort out the pension issue before the next hearing. My X will not co-operate to have a Consent Order in place so that pension sharing can be arranged. The pension providers insist that they require a Consent Order and a copy of the Decree Absolute. What are my options ? I have to attend court again on the 30 July 2012
If you cannot agree then your option is to apply to the court for financial settlement. You can still negotiate and may want to consider mediation to help you reach a settlement. If you cannot agree, you will end up at final hearing where a judge will decide for you. This could cost thousands if you are legally represented.
Depending on how long you were married, your ex could have a 50% pension share or a bigger share of the cash assets to offer it.