Buying a house with new partner while still married

ntd

I'm not sure where I legally stand

I am still married but separated for around 2 years now. My wife and I only ever rented and never had any form of joint mortgage. With my new partner we are looking at buying a house together. My new partner currently has her own house and will be funding the deposit on the new property from its sale. Will my wife have any legal claim to this property as the deposit is being paid from a non marital asset?

Thanks

MovingForwards

England / Wales? Or Scotland?

ntd

Sorry. I'm in England

Keep_pedalling

How near are you to completion of your divorce? Have you made a new will since you split up?

If you are putting no capital into the property then there should be no providing you don’t let the divorce drag on for years.

ntd

I haven't as yet filed for divorce. Obviously I will be named on the mortgage at the new property but I wasn't sure if me not putting any capital into the new house mattered. I haven't created a will of any kind.

Malthusian

ntd wrote: »

I haven't as yet filed for divorce.

Stop messing your new partner around and get on with it then. Intertwining your finances with a new partner when you haven't yet disentangled yourself from your marriage is highly risky.

Obviously I will be named on the mortgage at the new property but I wasn't sure if me not putting any capital into the new house mattered. I haven't created a will of any kind.

If you aren't putting any capital into the house why are you running the risk of being named on the mortgage? The risk is that if you acquire a beneficial interest in the house, which you will if you pay part of the mortgage, this may be viewed as part of the assets of the marriage when you get round to divorcing.

You should speak to a solicitor as soon as possible in order to a) get the ball rolling with the divorce b) to ensure your wife has no claim on the new house and c) to make a Will.

If you die without making a Will (intestate) then as things stand, assuming the separation is not a judicial separation, your wife will get the first £250,000 of your estate, chattels and half of the rest. The other half of the surplus will be divided among your kids and further issue if any; if there are none your wife gets the lot. Any assets in joint names will pass directly to her without going via your estate; your Will or lack of one does not apply.

ntd

Malthusian wrote: »

If you aren't putting any capital into the house why are you running the risk of being named on the mortgage? The risk is that if you acquire a beneficial interest in the house, which you will if you pay part of the mortgage, this may be viewed as part of the assets of the marriage when you get round to divorcing.

We require both our income to get the mortgage

Keep_pedalling

ntd wrote: »

I haven't as yet filed for divorce. Obviously I will be named on the mortgage at the new property but I wasn't sure if me not putting any capital into the new house mattered. I haven't created a will of any kind.

You really need to sort both those things out, especially the will. You also need to sort out the situation with your pension with regards to any expression of wishes you have made.

pickledonionspaceraider

Do you not think, that it is a good idea, to put the brakes on this for the time being until your Divorce is sorted?

Rushing in to this is not a sensible move at all.

Bad idea

ntd

I have arranged an initial consultation to see a family lawyer later this week. So I need to 1) Prepare a will and 2) Start the divorce proceedings.

TBagpuss

Yes, your spouse would have a claim against your share of the now house. She might not be successful in making a claim, but until you have a final financial order either of you can claim against the other.

If you are currently living with your new partner then you will also have to disclose, to your wife, any information you have about your partner's finances. Your wife doesn't have a claim against your partner's assets but she, and a court, are entitled to take into account how your partner's financial position affects your own financial needs.

This is one of the reasons why it's generally best to sort out any divorce and financial settlement before before moving in with a new partner or combining your finances.

Also, if you and your new partner are not planning to get married (or even if you are) it would be wise to consider having a declaration of trust / pre-nuptial agreement to ensure that you are both clear about what you intend in terms of the new property.