marriage break up and sale of house

jahudson72

I agree on don't giving him anything to start with and getting a solicitor to decide. Your number in your head is in the right direction but possibly lower - from previous cases I've heard around the same subject. He may not be entitled to anything.

DVardysShadow

boredwithhubby wrote: »

this is my first post so hopefully it is the right place.

Crossposted https://forums.moneysavingexpert.com/discussion/comment/44655986#Comment_44655986

boredwithhubby

Egg_custard wrote: »

When I bought my current house jointly with hubby, I put down the proceeds of the sale of my previous solely owned house as deposit. My solicitors said I would need to have a signed document stating that the previous house proceeds were mine and not to be shared if I didn't want my hubby to have a claim if we were to separate. I made no such document and we (like you) verbally agreed that he would not shaft me.

Legally I have no comeback if that situation arose. Likewise I doubt you do, unless you made a written agreement (I assume you didn't). If he wanted to play hardball, your hubby's solicitors could probably make a case for him receiving a larger share than the £10k you are suggesting. However, if the two of you can come to an agreement it doesn't need to come down to legalities and hopefully he will honour his verbal agreement.

I am confident that my husband will honour his verbal agreement and not play hardball! it is more about me wanting to offer him a fair but generous amount so that he is able to sort himself out with a new place to live

pimento

If it was the other way around and he'd put in and you hadn't, would you be happy to walk away with not very much?

boredwithhubby

pimento wrote: »

If it was the other way around and he'd put in and you hadn't, would you be happy to walk away with not very much?

well to put it another way, if we had have bought our current house on an equal footing 4 years ago we would now be at least £21,000 down so instead of walking away with £10,000 debt each, surely to walk away with anything at all would be a bonus!!

ALIBOBSY

When my sister separated from her fiance about 4 months before the wedding no less, they were in a simular situation with the house, the vast majority of the deposit was hers. She consulted a solicitor who said legally as they had no agreement regarding splitting percentages of the house based on deposits that a reasonable plan was to sell, pay off the mortgage, take out their deposists and split any profit equally as they had both paid towards the bills/mortgage so any profit would likely be seen as a judge as "joint". However they weren't married, the house sold quickly at a profit and no kids were involved.

On the above basis and given the kids you could argue nothing should be paid to him, but as you want to be fair and obviously still being having to parent together it will be better if you can remain at least on speaking terms. I think 10k sounds a reasonable amount for him to set up a small home, likely rented, but i assume he was renting when you met.

ali x

SuperBOB

Possibly he should expect something upon the eventual sale of the property as well? If in 5 years the value exceeds the purchase price
the difference should be split 50/50.

boredwithhubby

SuperBOB wrote: »

Possibly he should expect something upon the eventual sale of the property as well? If in 5 years the value exceeds the purchase price
the difference should be split 50/50.

the house is being sold now as I cannot afford to keep it on my own. I intend to give him some money from the sale of the house now.

pimento

boredwithhubby wrote: »

well to put it another way, if we had have bought our current house on an equal footing 4 years ago we would now be at least £21,000 down so instead of walking away with £10,000 debt each, surely to walk away with anything at all would be a bonus!!

That's not what I asked though. If he had sold his house and put the equity into a new house for you both and you had contributed no money, would you be happy with a small share of the profit?

bristol_pilot

You are being far too reasonable.

The usual practice in these situations is that the wife gets to keep the house and live in it with the kids, while the husband gets to leave yet still pay the whole mortgage. And if he doesn't like it he may find that he rarely gets to see his kids never mind 2 nights a week. 'Cos you are afraid he will harm them (aren't you).

Get a solicitor, she/he will explain everything to you. Divorce is war.