Divorce - can a settlement be renegotiated?

pinklady21

Hi - wondering if anyone can point me in the right direction.
A member of my family got divorced a few years ago (England). She tried to be reasonable throughout, the husband was very difficult.
The settlement agreed was that she would remain in the family home, with the children until the youngest reached 18. He would then be entitled to a percentage share of the value of the home.

Earlier in the marriage, she had paid the deposit on their first home, and the equity from that went into the current home.
She also received an inheritance that was used to pay off most of the mortgage on the current home.
He left shortly after that, having had an affair (unknown to her) for several years.
He lied about his financial situation during the divorce, and now apparently may have substantial undeclared assets. The mistress also appears to have substantial assets.

Question is - youngest child has reached 18. She does not wish to sell the house and does not have the cash to meet the terms of the settlement. Is it possible to try and renegotiate the settlement now?
Thank you.

PeacefulWaters

If assets were undeclared at the time of the settlement, then there's a case.

See a solicitor.

HappyMJ

pinklady21 wrote: »

Hi - wondering if anyone can point me in the right direction.
A member of my family got divorced a few years ago (England). She tried to be reasonable throughout, the husband was very difficult.
The settlement agreed was that she would remain in the family home, with the children until the youngest reached 18. He would then be entitled to a percentage share of the value of the home.

Earlier in the marriage, she had paid the deposit on their first home, and the equity from that went into the current home.
She also received an inheritance that was used to pay off most of the mortgage on the current home.
He left shortly after that, having had an affair (unknown to her) for several years.
He lied about his financial situation during the divorce, and now apparently may have substantial undeclared assets. The mistress also appears to have substantial assets.

Question is - youngest child has reached 18. She does not wish to sell the house and does not have the cash to meet the terms of the settlement. Is it possible to try and renegotiate the settlement now?
Thank you.

Only if those assets existed at the time of the settlement and were not declared then he's made a fatal error. However, if he's obtained these assets maybe from the mistress then no it can't be renegotiated.

Where did these assets come from? Why didn't she know about them during the marriage?

It just seems strange that she didn't know about them. Did they exist before the marriage? Did he inherit these assets in his name only?

In any case I'd stay in the house and wait until he forces a sale. It's unlikely to happen. She does not have to market the house for sale at all...that's up to him. She then doesn't have to show anyone through...again that's up to him to sort out. She doesn't have to present the property in it's best light. It isn't going to attract many buyers willing to pay what it's really worth. She does not have to accept an offer below market value. This can go on for years until she has the money to buy him out or can re-mortgage in her own name.

bouicca21

The mistress's assets are irrelevant, unless he laundered is assets via her. To the assets at the time of the divorce/settlement that matter. Presumably there is a sealed consent order?

And tbh she has had several years to prepare for the inevitable. Bit naughty not to prepare for intending doom and then cry about it.

Gigglepig

Undeclared assets - relevant
Mistress' assets - irrelevant

I would try to negotiate for paying back the percentage of the house value as agreed, minus half any assets he failed to declare at the time, if she can prove it.