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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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Financial Consent Order Question

  • beka88
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17 Apr 21 #516507 by beka88
Topic started by beka88
Hope someone might be able to help me with my question in regards to Financial Consent Order. In our consent order we have agreed not to spilt anything that we each own either money of property etc.

I have had my FCO refused by the judge for the two of the following reasons:
1. Question 7a on D81 form it is saying that my ex husband property purchase answer makes no sense.

He has purchased a property last year in the amount of 110k and there might not be any equity. He has put 110k in his response and nothing for equity not 0 or anything.

I own my property in my sole name that has been purchased before our marriage but we have lived in my property during our marriage.
There is equity in my property which could be over 60 k depending how much it would sell for and a mortgage of 90 k outstanding.
So for question 7a I have put 90k mortgage and 60 k equity.
So for the question 1 my question is what does not make sense in my ex husband answer? How should we fill it in pls? Does the question 7 on D81 form means to fill it in if are splitting property assets or not it is confusing me now?

And the second reason it is been refused for:
'What is to become of the FMH and mortgage, the order is silent. Please clarify and amend'.
What should I respond to them on this question? Should there be something added or changed on our Consent Order that says no splitting or selling of my home based on our agreement?

I have thought that since we have agreed that there would not be any splitting of assets that is quite clear what should happen to my property that I am a sole owner of. It is absolutely ridiculous decision and I am so annoyed.
How should I respond to my 2 questions and what should I write on 'Why is it fair? that we are not splitting assets based on what we have jointly agreed as in our Consent Order.

Please anyone that could help me with this please I would be so great full before I go insane. Thank you so much in advance

  • Jacqui19
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27 Apr 21 #516548 by Jacqui19
Reply from Jacqui19
If you google this I'm sure it states that any property purchased before marriage is not classed as 'married assets'. Therefore I don't think this can be taken into account. Not positive but best to google.

  • .Charles
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27 Apr 21 #516550 by .Charles
Reply from .Charles
The purpose of the D81 is to show a snapshot of the finances at the point that the form is completed. This will allow a judge to consider whether any proposed settlement is fair.

If the parties reach an agreement, the judge will look at the D81 and if the proposed order is in the broad range of orders that might be made at a final hearing, the order will be approved.

However, if the proposed order is unevenly weighted further explanation might be required and the judge will ask for information as s/he has done here.

If the response provided is not good enough the proposed order will be rejected or the matter might be listed for a hearing in order that the judge can question the parties on the intention of the order.

On the face of it the D81, if completed correctly will show the husband’s financial interest in property at £0 whereas the wife’s interest will be £60,000 or more. That is the sort of disparity that will require an explanation which would normally be detailed at box 9.

You need to bear in mind that the principle of division of matrimonial finances begins at a 50:50 split unless there is good reason to depart from this approach. In your case you are saying that the FMH was pre-acquired but this explanation will depend upon how long you have been married. The longer the marriage, the less weight that argument will have.

When Solicitors get this sort of query they write a letter to the court with an explanation and get both parties to sign it which usually does the trick. Your mileage will vary.

Charles

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