Divorce/House etc

brucethefish

Hi all


Im really not sure if this is the correct section of the forum.


Bascally I was married for 5 years, split up over two years ago, I remotgaged 1 year ago and the house was transferred into my name.


My wife started divorce proceedings, now she is withdrawing, as she is questioning how much she paid into the mortgage etc.


Does she have any claim now it is in my name? It is worth less in anycase.

Floxxie

Go to wikivorce.com and ask your question there. Five years is a short marriage, but you also need to include any cohabitation and whether there are any children for an answer to be given.

brucethefish

Sorry yeah, no children

brucethefish

Sorry, I had just got off the phone earlier to her, Ill try and make this more coherent! We bought the house in 2007, married in 2008, she left in 2013. No children. In addition, I remortgaged and in effect bought the house off "us", that was finalised in January 2015.

TBagpuss

Because you have not yet divorced or had a final finacial order, it is still possible for her to make a financial claim. In considering whether she should be entitled to naything, a court has to consider what is fair and reasonable.
The court would be entitled to take into account any previous agreements between you - so if you paid her a lump sum when the house was transferred to you, that would be taken into account.
A court could also take into account any other finacial assets such as pensions or savings.
When you bought her out, what did you pay her and how was it worked out? What is she questioning?

When you agree a split, it is not normally about how much you have each paid up to that point, as of course, a lot of what you will have paid to the mortgag ewill have been interest.
Normally you would look at how much the equity in the house is, and dividie that, either equally or otherwise, depending on the other factors.

Either way, it would be in your best interests to get a divorce and finacial order sorted out so that there can be no new claims made in the future.

brucethefish

I didnt pay her anything, it was simply signed over to me when I took out the new mortgage.

Also, would it be based on the house value/mortgage in 2013 or currently?

tea_lover

brucethefish wrote: »

I didnt pay her anything, it was simply signed over to me when I took out the new mortgage.

Also, would it be based on the house value/mortgage in 2013 or currently?

You transferred the equity but didn't pay her anything for her share?

brucethefish

Thats right, we bought before the crash in 2007, it was in negative equity

justme111

They probably did not think about payments as house could been in negative equity back then or at best the same price.

TBagpuss

roughly how much equity is there in the house now?

brucethefish

Maybe £15,000, I have been paying it on my own since September 2013.