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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.


What is Financial Mediation?

  • Gingerkitty
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18 Apr 08 #19886 by Gingerkitty
Topic started by Gingerkitty
Hi there - what is financial mediation all about? X2B has suggested this via his solicitors as he is not instructing them to act on his behalf in any financial matters. If I refuse they indicate that they will pursue the matter further if instructed by him.

What should I expect at this kind of mediation session? They are not trying to get us to patch up our marraige and remain together are they??

One big sticking point is the value of the MH. In this depressed property market I believe it is worth far less than my X2B, naturally this is because I want a fair price to buy him out and he wants to get his fair share too, on the inflated side (!) - but that is to be expected.

Can I refuse to go to this financial mediation until a realistic valuation is obtained by him from a chartered surveyor and NOT estate agent, as an estate agent will artifically inflate the price to gain commission, sale etc?

Any help and advice would be appreciated.
Thaks. GKx

  • Spike1
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18 Apr 08 #19887 by Spike1
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mediation only works if both parties want it too and if both parties co-operate. If it happens then what is decided only counts if it is taken to court and ratified by a CO. Otherwise, whatever is decided (even if drawn up and signed in front of a solicitor) is not worth the paper its written on. Its a really great idea but ONLY if both parties agree and have decisions ratified in court.

At least that's what my solicitor has just advised me....

  • poppy5
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18 Apr 08 #19888 by poppy5
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I understand that financial mediation is a way of negotiating the finances without involving costly court appearances, and if you can do it you should. I think you meet with your ex and a mediator in a room for a number of sessions. If it doesn't work it will at least be seen by the judge as 'trying' to reach an agreement.

Why don't YOU instruct an Estate Agents to value the property and ask them for a "6 week Forced selling price" they will know what you mean. Or alternatively you could look on Rightmove or some other Estate Agents website to determin the price of local properties that have actually SOLD recently ? You could take this along to mediation to show your ex.

HTH

  • Gingerkitty
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18 Apr 08 #19891 by Gingerkitty
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Thank you both. On the face of it this seems a good idea.
I did approach an Estate Agent to value the property but they were going to charge £100 plus VAT for the privilege when they knew what it was in connection with!!
I have provisionally put in place a re-mortgage to buy him out, not yet had a "decision in principle" as the MH is not correctly valued. I have set myself a figure to buy him out that I will not be going above, if he wants more then the house will have to be sold, of course then he has to bear in mind that he will be liable for half the costs of selling the house also.
Cheers.
GKx

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