Protecting my home in case of divorce

motorguy

Udont_knowme wrote: »

Ok...i recently found out my wife has been cheating on me. We have been together 20 years, married 9 years and have three children aged 16, 11 and 5. I'm not sure what is going to happen in the relationship, but I need to protect my home.
I own a £500k house with a £130k mortgage, solely in my name, bought 10 years ago. My wife has never contributed financially to the home. I pay everything, mortgage, bills, insurance and maintenance etc etc and always have done.
If I sell my house to my sister for a nominal amount, say £10 and "rent" it from her. In the event that we do split up, will my home be safe? I dont want to sell it and i doubt we could both continue to live together. I will of course look after my children but my wife made a choice to play away and I don't know what then other guys intentions are. Please I don't want relationship advice, I just need it in black and white if I can protect my home this way. Thank you.

I think you're fairly stuffed to be honest.

As has been said, shes entitled to half of any assets - attempting to "hide" asset value or assets will not end well. Judges take a dim view of this.

I would be concentrating your efforts on whats best for the children. If you can gain custody, for example.

chesky

Pollycat wrote: »

And although I don't agree with cheating, I have to confess a sneaking sympathy for the OP's wife given the 'me, me' attitude to money shown by the OP's single post.

Yes, the first thing I noticed was the 'I own' and 'my home'.

motorguy

chesky wrote: »

Yes, the first thing I noticed was the 'I own' and 'my home'.

+1

Have to agree. Marriage should be viewed as an equal arrangement from the offset.

paddy's_mum

Can you afford the legal fees involved .... when the Divorce Court Judge sets aside ALL and ANY previous dealings with the property? They do have that power if to do so ensures fair play between the spouses, including sales, rentings, Land Registry paperwork, second mortgages, gifts, legal Charges against the property etc.

Can you afford the legal fees involved if your wife takes out an injunction ousting you and preventing any disposition whatever until so ordered by the Court.

People in your position have found themselves facing bankruptcy and prison if they choose to defy a Judge.

Think very carefully indeed before you take even a hint of a first step!

rpc

You got married. It isn't just yours any more (doesn't matter what the deeds say).

Kim_13

As an aside, bear in mind that you can only divorce on grounds of adultery if you haven't continued to live with her for more than 6 months after you found out about it.

The standard of proof is high so you may need to use the unreasonable behaviour ground stating that she has formed an improper relationship with another person, if she will not admit her adultery. Naming the other person tends to complicate the process.

While we may not agree that the person at fault comes out with a starting point of 50/50, we can only advise according to the law.

pearl123

Udont_knowme wrote: »

Ok...i recently found out my wife has been cheating on me. We have been together 20 years, married 9 years and have three children aged 16, 11 and 5. I'm not sure what is going to happen in the relationship, but I need to protect my home.
I own a £500k house with a £130k mortgage, solely in my name, bought 10 years ago. My wife has never contributed financially to the home. I pay everything, mortgage, bills, insurance and maintenance etc etc and always have done.
If I sell my house to my sister for a nominal amount, say £10 and "rent" it from her. In the event that we do split up, will my home be safe? I dont want to sell it and i doubt we could both continue to live together. I will of course look after my children but my wife made a choice to play away and I don't know what then other guys intentions are. Please I don't want relationship advice, I just need it in black and white if I can protect my home this way. Thank you.

It seems you just want to protect yourself. What about your children?
Splitting the house 50/50 seems fair on a £500k house.
Your wife has invested 20 years on you and your children. Absolutely, she deserves half.

username12345678

You are going to get destroyed financially I’m afraid.

Perhaps, use your experience to educate your children on the dangers of marrying a partner of low economic value (note, that doesn’t mean a low value person!).

macman

Given that the OP is trying to protect an asset worth half a million quid, wouldn't an hour of a solicitor's time be a sound investment, rather than relying on an online forum?

username12345678

I'm not suggesting for a moment the OP should do this but what would stop someone remortgaging the house then putting the proceeds in to a QROPs that is outside the jurisdiction of the courts?