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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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House split

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20 Sep 12 #356875 by paulap
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Hi. I am currently about to be divorced by by husband of almost 3 years who is trying evry trick in the book. I inherited the property in question from my father three years ago.I owed it outright when we married.Previous to this we lived in the property for five years rent free and the money we spent doing it up my father remortgaged for and my husband was co-signitory on the account. We mortgaged the house a year ago sept- house value 90,000/mortgage value 40,000, to clear a small ammount of debt and to have a nice lifestyle- we brought a nice car ect. So far we are in arrears on that mortgage 1779 with a mortgage balance of 38.900. My husand arrived to me with two carrier bags of clothes and a dog but feels he is now entitled to 30% of it all...
Any ideas where I stand before I spend a huge fortune at a solicitor? We have one daughter, 6 and I have a son from a previous relationship who will be 16 next month.


Thanks

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20 Sep 12 #356878 by soulruler
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Is he prepared to take on the marital debt?

You are right, go to solicitors and you will spend a fortune on this.

In a short marriage you are supposed to come out with what you went in with, so on that basis you come out with the house and you both come out with debt. Someone gets the car.

Two children need to be housed and presumably your husband is the father of the younger one so he has a responsibility as do you obviously to that child.

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20 Sep 12 #356879 by paulap
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The car was purchsed with the mortgage money so if I take on mortgage then in theory I am paying for car?? The car is solely in my name with no finance.

P x

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20 Sep 12 #356887 by soulruler
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I have a few thoughts, your husband was happy to remain unmarried and live in a house bought by your father without paying any rent. He then co-signed on a further advance with your father, why did you not co-sign was it to do with income, what is your husbands income?

Can you afford to take on the mortgage in your sole name and do you have an income?

Presumably at the moment your husband is on the mortgage and you are not although the car bought with mortgage money is in your sole name.

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20 Sep 12 #356888 by paulap
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My husband simply spent my dads money refurbing the house when we moved in- he drew from my dads account! House is in joint names now as is mortgage- ONLY JOINT NAMES AND MORTGAGE FROM SEPT 11. Car in my sole name. Hopefully can afford it but poor credit due to arrears may affect that I believe.

Thanks
P

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