Divorce and rental property

aggy25

I have two rental properties which I have maintained over the years, painted and decorated myself. I paid my tax to IR every year. But to get the houses my husband was put on the mortgages. The rent gets paid into my personal account and gets paid out every month to pay towards mortgages, insurance, maintenance etc. We are now wanting to get a divorce. How do i stand on the two rental properties?? Got the properties while i was with my husband. Is he entitled to 50% of their value?

Pixie5740

What does your solicitor say?

theartfullodger

aggy25 wrote: »

I have two rental properties which I have maintained over the years, painted and decorated myself. I paid my tax to IR every year. But to get the houses my husband was put on the mortgages.

Assume hubby is also on the deeds then?? Unless sorted then the income etc will be assumed to be split 50/50. Hope you BOTH have been declared each ALL of your 50% rent income...

The rent gets paid into my personal account and gets paid out every month to pay towards mortgages, insurance, maintenance etc. We are now wanting to get a divorce. How do i stand on the two rental properties?? Got the properties while i was with my husband. Is he entitled to 50% of their value?

Depends on the paperwork: Talk to a good family-law solicitor.

TBagpuss

All assets which either of you have will be part of the 'pot'. The aim is then to try to work out what will be a fair settlement over all taking into account a whole range of factors including:
- Your ages and how long you have been together
- Your respective financial needs and the needs of any children
- Your respective incomes and earning capacities

You don't look at the houses in isolation - you look at them as part of the big picture.

Also, you and your husband are free to negotiate between yourselves and decide what you agree is fair.

Guest101

aggy25 wrote: »

I have two rental properties which I have maintained over the years, painted and decorated myself. I paid my tax to IR every year. But to get the houses my husband was put on the mortgages. The rent gets paid into my personal account and gets paid out every month to pay towards mortgages, insurance, maintenance etc. We are now wanting to get a divorce. How do i stand on the two rental properties?? Got the properties while i was with my husband. Is he entitled to 50% of their value?

Yes. Most definitely.

He was also entitled to 50% of the rental income, which he didnt get.

So actually could be entitled to more than 50%