Negative Value Property Abroad prior to marriage - can it form part of the pot?

what2donow

Hi,

I am looking for a divorce case or any specific ruling in regards to properties in negative value acquired prior to marriage.

Would anyone be able to point me in the right direction or help out here?

The property is abroad and as stated in negative value. Not being able to sell. The debt is £100k higher than the value. Acquired prior to marriage. The local law says the debt is attached to the person and inherited by children if not repaid during lifetime therefore it will never go away unless repaid.

Children stay with me.

I have been advised by the solicitor that the judge may reject it as it was a foreign property and likelihood is that it will be isolated. Anything else in UK may form part of the pot.

Marriage lasted 3 years and 2 other properties are here in UK to which I contributed most or completely prior to marriage but as we were married half was requested by ex-husband.

First hearing this month and I want to prepare a strong case.

TIA

TBagpuss

Ultimately the court has to decide what is fair and reasonable in the particular ciumstnaces of your case - there is no hard and fast rule.

That said, a court has no power to reassign a debt, so if the debt is in your spouse's sole name, the court cannot add your name to that debt, all they can do is take the debt into account in deciding what share of the assets you each get.

If you are concerned that the debt will come back onto your children then you could seek to negotiate a settlement with your husband whereby any sums due to him are used to reduce the debt (although this would not prevent him borowing more in future) or alternatively you could agree to take out a life insurance policy designed to pay a lump sum to you or to the children on his death, to allow them to clear the debt then.

In a short marriage, courts are myuch more open to taking into account contributions / assets brought into the marriage then in a longerone, and if your assets have ben kept laregely separeate during the marriage that is also relevant.