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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.

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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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Assets within the ''marriage''

  • *Winter*
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09 Sep 12 #354744 by *Winter*
Topic started by *Winter*
Hi, this is my first post - have recently separated from husband after I found out he was having an affair.
Luckily we have a nice amount of assets between us now (scrimped & saved to clear the debts)but obviously that will all have to be divided in time. I am in the house with the children at the moment, he is using the car (I bought myself a smaller one), plan to sell the caravan etc.
My query - he had inherited some land before we were married, on which stands his business premises. I have worked there for 15 years and continue to do so (self employed). Would I be able to ''claim'' on this land as a marriage asset?
We have been married for nearly 15 years.
Many thanks, Winter.

  • Yummy_Mummy
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09 Sep 12 #354768 by Yummy_Mummy
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It depends. Is it legally stated on a document that it is a business?

Are there any papers that state names of the proprietor? Has this document existed for some time since the business started?

As far as I know if there is nothing legally binding then you may be entitled to some of that asset but am not fully sure.
It depends on what paperwork you have.

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09 Sep 12 #354780 by sexysadie
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The land and the business itself will both be marital assets.

Best wishes,
Sadie

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09 Sep 12 #354784 by *Winter*
Reply from *Winter*
Hi and thank you for your replies. The business itself has been established on the land for over 50 years - I am not really interested in the business side; he is entitled to make a living; I just wondered where I stood with the land, as he may fold the business in a few years.
Thanks, Winter

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09 Sep 12 #354787 by Yummy_Mummy
Reply from Yummy_Mummy
Marital asset as Sadie put.
If you have paperwork it ll just make it easier and faster.

Best of Luck

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09 Sep 12 #354788 by *Winter*
Reply from *Winter*
That''s great, thanks very much

I have a copy of the area/land filed with the Land Registry - is that the sort of paperwork solicitors will look at?

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09 Sep 12 #354799 by Yummy_Mummy
Reply from Yummy_Mummy
It might help.

Not quite sure. If you have any paperwork, keep it in case you need it.

All I know is that proof is required so it would help; if nothing else it will speed it up.

I suggest you keep anything with you or joint names and discuss it with your solicitor. Your legal team will guide you.

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