Complicated property issue after divorce!

Alan_T_2

He's going to need a solicitor regardless. If an agreement is reached independently as to the value to pay then he'll need a solicitor to document the settlement formally to save any comeback further down the line. If no agreement is reached then he'll need the help of the solicitor to come to an agreement.

My tuppence worth would be that as she has only paid maintenance related to the up keep of the children not the property, and not contributed to the mortgage, that she would only be due a share of the equity at the date of divorce. Any equity earned subsequent to that would be his. However it might be worthwhile him checking if she is outstanding any maintenance as that could be deducted from any amounts payable. If he can't afford to give her the amount due he may have to sell the house, or other assets, to realise cash.

FatVonD

I disagree, she has been paying rent even though she owns half the house, she should be entitled to half. Unless of course the brother has been paying half her rent.

RAS

FBaby wrote: »

How would it have been? Could he have bought her out then to her half of the equity? If so, why didn't he do it? Surely she would have had nothing to lose with that offer. If he couldn't then, how else could it have been sorted but by agreeing that he could remain in the property, pay for the mortgage and her being able to claim her half when the kids became adult, which is what she has done?

The sensible thing to do is to get the agreement and financial settlement sorted out at the time of divorce, so that all parties know what will happen with Junior leaves school or college.

Maybe even sever the tenancy. At the moment if he dies, the ex gets the house. Anyone thought of that?

NAR

OP what needs to be sought is a Financial Consent Order, which details the financial split of the marital assets.

The marital assets include the house, any savings, any pensions, duration of parental responsibility since split (since all CSA wasn't paid) and certainly in this case the redundancy payment (as they were still married).

Both solicitors will advise their respective parties and try and reach an agreed FCO. If the contents cannot be agreed then the judge will decide what is considered a fair split. This is rarely 50%, as all factors since their split will be taken into consideration.

millymollie

Thanks again peeps..

So it looks as if she can legally claim half the current equity in the house.
Houses where my brother lives are always up for sale, some have been up for ages. If he puts it up for sale at whatever its valued for, and its up for sale for ages is there anythjing his ex can do in the meantime? Or would it just be a case of waiting for it to sell?

Thanks again, its been a real help

RAS

millymollie wrote: »

So it looks as if she can legally claim half the current equity in the house.
Houses where my brother lives are always up for sale, some have been up for ages. If he puts it up for sale at whatever its valued for, and its up for sale for ages is there anythjing his ex can do in the meantime? Or would it just be a case of waiting for it to sell?

Not necessarily.

There was a very long and complex case that actually involved a couple who were not married and the ex demanded half about 20 years after leaving. Initially he was awarded 50% but when it went further up the courts he ended up with about 10%? Maybe less.

Your brother needs proper advice form a good divorce lawyer.

millymollie

NAR- many thanks for that.

I have made a note of that. So say both parties agree on a figure of say 20k that his ex wife is entitled to, is that all she would be entitled to from the sale of the house, ie not just automatically 50% of the current equity?

millymollie

RAS- Thanks, he is due to see a solicitor on Monday. I had no idea how complex this matter is but the more I can tell my little bro the better! Forewarned is forearmed!!

Any

FatVonD wrote: »

I disagree, she has been paying rent even though she owns half the house, she should be entitled to half. Unless of course the brother has been paying half her rent.

And she in turn 2/3 of the mortgage on the house for HER children?

BTW I don't disagree with you, but that is taking it too far.

What a mess. Given that he paid all the bills since they split and supported their children, I would probably agree to half the equity at the time of separation.
Especially given the redundancy payout.
But it all depends on the solicitors and if necessary the courts decision... but this would be my argument.

millymollie

Its such a messy situation