The UK's largest and most visited divorce site.
Modern, convenient and affordable services.
We've helped over 1 million people since 2007.

Click this button for details of our

email, phone nbr and free consultations.

How To Contact Us

Financial split

Start
Prev
1
Next
End

Kelly321
Posted by
New Member

29 Feb 24 #522662 by Kelly321

Topic started by Kelly321

We have already been through court and the court has ordered the financial separation. I should receive 60% and my ex will receive 40% of the property.

The house is currently not selling. If the house is reduced in price how would that affect the financial separation.

for example if we reduced it by £20k would I lose 60% or that.

For information my ex earns 5 times what my salary is. I can only get a small mortgage of 60k where my ex can get a mortgage for substantially more than that.

Thanks

wikivorce team
Moderator

04 Mar 24 #522674 by wikivorce team

Reply from wikivorce team

This depends entirely on the wording of the court order. If it is written that you will get 60% of the proceeds of sale then yes - you will in effect lose 60% of any reduction in the sale price.

( For example - It is / would have been possible to have an order where one party gets £100K from the proceeds and the other party gets the remainder - in this example the second party would take all the loss from a reduced sale price.)

Start
Prev
1
Next
End

Moderators: wikivorce team, rubytuesday, dukey, hadenoughnow, Tets, Shezi, Linda Sheridan, Forseti, Mitchum, WhiteRose, Lostboy67, WYSPECIAL, Bubblegum11

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.