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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.


Do you need help sorting out a fair financial settlement?

Our consultant service offers expert advice and support to help you reach agreement on a fair financial settlement quickly, and for less than a quarter of the cost of using a traditional high street solicitor.


Family home

  • AwaitingDivorce
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16 Sep 12 #356246 by AwaitingDivorce
Topic started by AwaitingDivorce
My wife moved out and is living in a rented property that suits her needs and is closer to my childrens school. I have the mortgage on the family home 100% in my name. I understand that she would have a starting point of 50/50 on the house, but would i be justified in stating i want the proprty sold and the profut split equal?

  • minxy1912
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17 Sep 12 #356399 by minxy1912
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iam no expert,but if her name isnt on the mortgage,i dont see why that would be a problem.

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17 Sep 12 #356402 by MrsMathsisfun
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Even though her name isnt on the mortgage, the house would be classed as a martial asset and she would be entitled to share in accordance with the 1973 Martial act which is based on the needs of each party.

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24 Sep 12 #357609 by AwaitingDivorce
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Would this start at 50/50 ?

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24 Sep 12 #357669 by Elphie
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Yes, you would be justified to say that. Be prepared for her to come back with arguements as to why she should receive more though.
However, I believe you would certainly have the house sold and equity split as she no longer lives there, so I don''t believe you are in danger of her refusing to sell.

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24 Sep 12 #357743 by Fiona
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It''s difficult to comment without knowing the specific details so the remarks below are just general.

With divorce settlements equality means living both parties on a similar financial footing rather than a mathematical 50% split. If there are enough assets to meet both parties needs, in particular for housing, and there was no exceptional contribution from one party assets would be shared 50:50. If there aren''t enough assets a checklist of factors in s25 Matrimonial Causes Act 1973 is referred to and usually the "needs" is at the top, or near the top, of the list.

The priority is the welfare of children and keeping a roof over their heads. A good starting point is to check out local property prices and both parties mortgage raising capabilities. If the children live mainly with your wife she will need a more substantial house than you do to have them for overnight stays. If your wife''s income is less than you she won''t be able to raise as much mortgage as you and she would require a larger share of capital to leave her on the same financial footing.

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29 Oct 12 #363518 by AwaitingDivorce
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My Wife wants to buy me out, but doesn''t work. As she has no income i don''t see this as a possibilty. Theeq in the property if split would only be enough for a small deposit on a new property.

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