Hi all, new to this forum, only just found it last night.
My wife and I are going through divorce, only just filed for it in the last few weeks. Im divorcing her on the grounds of unreasonable behaviour.
Does anyone know how the split in equity in the sale of a house is normally settled by the court?
I've made a number of proposals to her but she has been ignoring me for seven months. I've asked for disclosure of her financial statements through her solicitor but Ive been ignored.
I am still in the family home as she wanted to move out as Ive been restoring my house for the last six years and she said I can finish it before its put up for sale.
My situation is this, I've been paying a majority of the mortgage and bills for the last seven years as she only worked part time. In the last seven months I have paid all the bills and mortgage myself and the house may take some time to sell so I will be paying all the bills whilst it is for sale, this could take a couple of years so I could be paying around 20k off the mortgage in that time. As well as myself solely paying the bills I have also paid in around £20k into the property in materials and work in the renovation of the property as well as spending a most weekends working on the property myself.
My question is this. I have been told that the split in equity is normally settled 70/30 split in the equity in the mothers favour. This is of concern to me as I have paid so much into the property and have paid off so much of the mortgage myself...never missed a payment.
Does anyone know if the 70/30 rule of thumb split in favour of the mother is true? Ideally I would like 55% of the equity, normally I would go for 50% but I feel the extra 5% will cover the amount I have paid off the mortgage myself during the divorce and whilst it is being sold as well as the materials and work I have paid for.
There is no such thing as a \"normal\" split. Every situation is different and the factors change the split in either direction. Whilst you may be the only one contributing at the moment there is no guarantee that that will be reflected in the final split