Am I entitled to anything?

DairyQueen

Separating means zero with respect to a financial settlement. That process doesn't begin until divorce proceedings. However, the date of separation will be deemed the end of tthe marriage. Note that pre-marital cohabitation counts toward the length of the marriage.

The starting point will indeed be 50/50 but, given that it sounds like there are few assets other than the house (don't forget pensions as these are often very valuable), it's likely that 'needs' will dominate the terms of any settlement at divorce. The court will consider the needs of children above all other factors and the child's need for a home will be the first on the list of priorities.

The custodial parent is therefore advantaged to some extent although it's unlikely that the former spouse will be excluded completely from a share of the equity, even if receiving that share is deferred until the child is 18.

Who paid for what during the course of a marriage which ends with few assets is pretty academic as your child's needs will trump every other factor. You will definitely be expected to pay child support.

I would look closely at your/your wife's pensions (if any) as they form part of your assets. The current value may be worth much more than the equity in the property and giving up claims on a spouse's pension is a possible quid pro quo for equity in the house.

Bottom line is that six years is on the cusp of a short/medium-term marriage but the term is likely to be irrelevant if the child's needs require all equity in the house to remain with the custodial parent for many years.

I would suggest that you seek legal advice as a solicitor will be able to advise you on which factors are likely to take precedence in your financial settlement. This will also prepare you for the difficult time ahead.

Good luck.

Welshman81

There are no pensions involved or loans of any sort. I have no seeked legal advice and been told now im entitled to only the equity in house if any when sold. I can make a claim also for any previous payments ive made to the house and bills if i can provide proof. Thank you all for your replys.

scaredofdebt

Legally you are more than likely to have an interest in any equity in the property, the default position is 50/50 but this is likely to be less in your case if the marriage is judged to be "short" which it may be. Hard to say until you get in front of a judge.

Personally in your position I would be inclined to see what your ex says when you show her how much you have contributed, she may be prepared to make a mutually acceptable settlement without needing to go down the (expensive) legal route.

If you do this get it all in writing.

But it all depends on how reasonable you both are, how much you contributed and how much equity is involved etc. Is she in a position to pay you and if not is she willing to sell the house to release the equity? If she isn't and there are young children living in the house it's unlikely you can force the sale.

I would be very wary of solicitors saying you are entitle to £x as I went down that route and fell for their "advice" that I would get half of the equity in the marital home and actually ended up with nothing and a bill for over two grand.

The above is based on my experience, I am not a lawyer.

Comms69

As you're married you're entitled to remain in the home.


This may push her to discuss equity splits.

davidwood681

Comms69 wrote: »

As you're married you're entitled to remain in the home.


This may push her to discuss equity splits.

Yep, you didn't have to move out. It was your home and still is

Pixie5740

Welshman81 wrote: »

There are no pensions involved or loans of any sort. I have no seeked legal advice and been told now im entitled to only the equity in house if any when sold. I can make a claim also for any previous payments ive made to the house and bills if i can provide proof. Thank you all for your replys.

Do you mean that you have "now" sought legal advice or that you have "not" sought legal advice? Who has told you that you need to wait until the house is sold?

Ozzuk

A lot of people still talking about equity but the OP says in post #6 that there is likely little or no equity and nothing worth fighting for.

If there was equity, and it went to court, and you can prove you made improvement that might influence any split BUT if no real equity then its a split of nothing!

So that only leaves going after your ex for monies you've paid her. Does she have the funds to even give you anything? If the answer is no, then likely you need to write this off.

Coming out of this with no debts/no liability for the house may be your best position given what you have described.

Just one thought...you may be able to use your position (paid funds in) as a basis of a deal not to persue each others pensions (assuming yours is higher).