Divorce-where do I start

Debtomaniak

Hi guys,

my husband and I have been married for 7 years, 2 months ago I have moved out to a rented flat because could not live with my husband anymore, as all the feelings have gone...

Anyway, I have been paying 50% of the mortgage for about 5-6 years, husband paid the utility bills and I paid for the weekly shopping. He bought the house I could not contribute to the purchase.

Recently we had remortgaged and my husband assigned 30% of the house to my name. He has about £60K debt, about £10 on top he transferred to my name with my agreement (was trying to help him to manage his debt). He was also out of work for about 1-1.5 year and we had to live on my salary.

Unfortunately things didn't work out and now I want a divorce. He wanted to give our marriage another chance, but I do not love him anymore and do not see the point of us staying together.

My question is, what do I do regarding the finances? Am I entitled to anything? I just would like to be able to have a deposit for a 1 bed flat in a decent area, so probably about £10K. Would it be reasonable of me to ask him for £10K or am I being greedy? Am I legaly entiteled to anything?

I don't want to fight him for anything, but have to take care of myself too. I have no family here and no one to turn to, otherwise I would just have walked out not expecting a penny from him.

Any thoughts? I would appriciate your oppinions regarding the moral aspect as well as legal entitlement? Am I being fair or greedy?

wannabe_sybil

Try and find a solicitor for a free half hour consultation. They will be able to clearly show what you are entitled to. Please note, it is not compulsory to go for everything you are entitled to but it may be a good start to negotiations. Also, following points may be of interest.

1. You are solely liable for the debt solely in your name, even if it was taken out to assist your former dear heart.
2. How would your former dear heart finance the £10k?
3. If your former dear heart fails to pay the mortgage, as your name is on it then they can pursue you for all the arrears, not just 30%, even if you are not living there.
4. Is the 10k in addition to paying off any debt accrued during the marriage?
5. Regardless of the name on the deeds the marital home and all assets gained during marriage are considered held by both of you eg if you received an inheritance or have savings then your former dear heart will have a claim on them. Normally the start point is 50/50 then altered depending on circumstances. I am not sure about how the debt works.
6. You may have a claim on his pension, and vice versa.

I do hope it all works out for you. You may also wish to try Relate, not necessarily to reclaim the marriage but to be able to sort out how you both feel and put a graceful end to the matter.

Also of note - the grounds for divorce are irretrievable breakdown of marriage due to adultery, unreasonable behaviour, desertion, two years separation with consent of both parties, five years separation. Unless the first two grounds are used in the divorce petition then you will have to wait at least two years from the date of separation. Using adultery as basis for the petition can affect the financial settlement. You may like to try and get the financial side arranged amicably before it gets to the stage of the petition.

From your description of the circumstances, you may be entitled to quite a share of the house, but in these straitened times you may not be able to achieve it.

I do hope this all helps and good luck. Sorry about the length of the post

Debtomaniak

Thank you for you points, I didn't even think about being liable for the mortgage, my head is full of daily worries and god knows what at the moment. Very good point, I probably need to get him to take my name of the deeds then, but might be wise idea to get him to repay the debt that is in my name first.

Decided not to ask for any money from him, as I can't be asked fighting any battles right now. There is more to life, just hope his assets make him happy as nothing alse seem to...

Thank you for your advice, it is much appriciated.

MrsTinks

It's not your name on the deeds that are the problem - it's the name on the mortgage that is the issue
And HE can't take your name off just like that - he needs to basically re-apply for a mortgage with the mortgage provider and get a "sole" mortgage again...
As for walking away with nothing - whilst a noble thing to do, then having done this once (although not married) and still thinking to this date that it was the best money I spent (I had the debt, he had the house... I was young and foolish) then I do sometimes wish I'd had the knowledge to fight him for half the equity in the house... Whilst I'm glad I never had to speak to him again I would be in a lot less debt now if I'd known what I know now

Debtomaniak

MrsTine,

yes, thank you, I can see your point, but having not contributed to the purchase of the house, I feel it would be unfair of me to expect anything from him. Although, I did support him when he was unemployed for 1.5 and I do need to be carefull not to end up with his debt.

If he was generous enough to offer me a deposit sum to enable me to buy a flat of course I would greatfuly accept it, but I doubt he'd be even concidering such a thing and why would he really... No matter how much he tells me he loves me and always will, don't think his love actually goes as far as worrying about my welfare if we are no longer together...

paddy's_mum

Debtomaniak - don't forget that almost every aspect of a separation/divorce can be dealt with by post or from a distance via solicitors. You don't have to stay in an area that holds no happiness or family support for you.

Why not think about moving (in due course) to an area closer to friends and family. You will not be any worse off in terms of finance or the ability to negotiate on things, but you will be in warmer, friendlier waters and that alone has huge value when life feels like it's kicking you while you're down. Good luck.

silvercar

Don't want to bring bad news but better to know the problems.

If the mortgage is a joint one (and I guess it is if you own 30% of the house), you are both jointly liable for the mortgage. That means that the lender can chase either of you for all the debt.

If you want a clean break, he will need to take all the mortgage in his name +10k . A lender is only going to agree to your name being removed from the mortgage and increased lending if:

a) there is enough equity in the property to increase the mortgage;
b) his income can justify a mortgage of the size needed;
c) he has a decent credit rating.

If he can't satisfy those 3 items, it is unlikely a lender will agree to remove your name from the mortgage.

Debtomaniak

silvercar,

I didn't even think that there would be a problem with removing my name from the mortgage... Suppose, from the bank's point of view, both of us were taking mortgage out... D*mn it!!!

Actually, ex was saying that he'd sell the house and move to the different area, so I guess ones he sells the house, he will pay the mortgage in full and my name will be "off the hook"..

Vomityspice

The simple advice is 'go and see a solicitor'!

Given that you have been married for some time, and you are also a party to the mortgage you have an equitable interest in the house (i'm sure a property solicitor will correct my poor understanding!)

It is probable that you have a constructive trust.... it's not a resultant trust as you didn't put any money in at the start. A constructive trust is when you contribute to property over time (it's always done via a court). However, you state that your husband assigned 30% to you when you re-mortgaged? Was this registered (land registry), because if you did then it may be that you are no longer joint-tenants but rather tenants in common. This would mean you would be entitled to 30% of any profits when the house was sold. This is assuming there is some equity in the house.......

Additionally, the Matrimonial Causes Act 1973 s 37(2), has 'discretion' to do what it likes with regards the property.... as you don't have children it probably won't apply.

As a final point, if the assignment from your husband was to avoid paying his creditors then the assignment can be overturned by the Court (usually if within 5 years)

I'm sure someone will probably correct my failing memory of Trusts and Equity!!!!!

sal

Can I recommend a website?

www.wikivorce.com

It's the best place for anyone contemplating or going through divorce/separation. The support, both professional and amateur, and the community is out of this world. I can't praise it enough. The forums are very active and the chatroom is very friendly, fun and supportive, all newcomers welcomed with open arms. You are never alone when you join wiki, 24/7 there is someone to talk to who will give tea and sympathy, a kick up the backside or a joke to cheer you up.

Sal

Masquerade_2

Trusts and Equity do not come into play in this situation. Your remedies will be through the Matrimonial Causes Act because you were married.

Constructive trusts etc are only really relevant to people who are not married.

Married couples both have a claim in assets accrued during the marriage whether they are in sole names or joint names.

When looking at a suitable settlement the court have to take into account certain things which are found under Section 25 of the Matrimonial Causes Act e.g. contributions made, earning and borrowing capacities, ages, standard of living etc.

There is no black and white calculation.

It is important to get legal advice before agreeing to anything. Many solicitors offer free half hour interviews. Your CAB will be able to give you a list of local reputable solicitors.