Wife handed me the keys back

Pixie5740

dangerpowers wrote: »

So if she doesn't pay her half of the mortgage then I have to pay her half and she is still entitled to 50% of the house?

Legally speaking there is no "her half" or "your half" you each have joint and several liability for the total debt. Her not contributing towards the mortgage will not alter the fact that she is legally entitled to some of the equity. Whether it's a straight 50/50 split is for the two of you to negotiate.

foxy-stoat

dangerpowers wrote: »

So if she doesn't pay her half of the mortgage then I have to pay her half and she is still entitled to 50% of the house?

In the lenders eyes you both a jointly liable for the debt.

In the eyes of your solicitor they will have a view and so will hers. Best ask the question to your solicitor when you see them.

Tammykitty

dangerpowers wrote: »

So if she doesn't pay her half of the mortgage then I have to pay her half and she is still entitled to 50% of the house?

Don't forget you get the benefit of living in the house - so don't think of it as she isn't paying her half of the mortgage, instead think of it as you are paying rent for her half of the house

Thrugelmir

dangerpowers wrote: »

So if she doesn't pay her half of the mortgage then I have to pay her half and she is still entitled to 50% of the house?

She isn't entitled to 50% of the house. The % needs to be negotiated. Could be 60% or even 70%.

Money paid out will be fully accounted for in the final reckoning.

foxy-stoat

Its probably makes a low % difference in mortgage terms.

For instance, £275K house, £200K mortgage, monthly payment £900, capital repayment is £500 interest £400.

12 months of mortgage payments less your capital repayment amount, less the interest would be £3000 or 4% of the total equity. There is a child involved which complicates things and you will have sole use of the property - probably why her solicitor told her to give the keys back to you so she can prove you had sole use of the home on a given date.

thickasabrick

Look up the phrase "joint and several liability" as that is the situation you are in with the "former matrimonial home" (FMH).

Q1
Can you afford the full mortgage without the 50% contribution from your wife ?

Q2
Can you afford to pay the full mortgage once you have paid child maintenance ?
https://www.wikivorce.com/divorce/FAQs/Child-Support/How-is-child-support-calculated.html

Q3
Can you afford to pay the full mortgage if you have to pay spousal maintenance ?
https://www.wikivorce.com/divorce/FAQs/Spousal-Maintenance/ADVICE-FOR-PEOPLE-WHO-ARE-FACING-THE-POSSIBILITY-OF-PAYING-OR-RECEIVING-SPOUSAL-MAINTENANCE.html

As part of the divorce preparation you should create a list of assets and liabilities. A current statement of affairs will also help answer the questions above.

I would suggest posting your query on the Wikivorce forum which is very active in this area and hopefully there will be some useful comments.
https://www.wikivorce.com/divorce/Advice-and-discussion-forums.html

dangerpowers wrote: »

Hi all,

I'm in the early stages of a divorce and my wife has left the home with my son and moved straight in with her new lover. We jointly own a house and are both still paying the mortgage 50/50.

Things have all been amicable until her first meeting with a solicitor which has completely stirred things up.

My question is that she has "out of the blue" handed me her keys back. Is there anything I should be worried about this with regards to her payment of the mortgage or anything else? She doesn't do anything unless it benefits her in some way.

Thank you and hope you can help.