DIVORCE WHILE STILL OWNING A JOINT PROPERTY

KKILP

Thanks all for your replies,  to be honest it didnt even cross our minds as we were still amicable at the time especially as our daughter was till of school age we didnt want her to feel torn between the two of us and playing off as kids do if parents are divorced, has happened to friends but now she is 20 and is staying with me now as she is studying at university I feel is now the right time to get divorced, my ex wife even brought it up last month saying maybe its time to get a divorce, what I was worried about was having to sell the house as my daughter stays with me and I cant afford to buy her out or buy somewhere else with my share of the capital.  We stay in Scotland so not sure if different rules in Scotland, didnt want to go down the route of solicitors at moment as can be very expensive route.  She had agreed to £50k of the share of the house the house is probably worth around £150k but we still have a mortgage of around £50k  I wouldnt be able to buy anything else at £50k or whatever is left and at my age dont want to have to take on another mortgage, basically couldnt afford a mortgage due to work issues with COVID and dont see it picking up anytime soon, so just wanted to know if I could divorce without the process of having to sell up.  Wasnt sure if it was mandatory to have to sell your house if you get divorced.

TBagpuss

Scottish Law is different to English Law - I believe that you may need to have a financial agreement in place in order to finalise the divorce but this might include provisions for you to continue to live in the house, as long as it set out when / in what circumstances the property would be sold or the proceeds split. - For instance, if the issue is with regard to you being able to get a mortgage at present because of your work situation, it might be possible to have an  agreement that the house would be sold in another 1-2 years tome, for instance, which would give you time to plan. Also, if you haven't done so already, it's worth talking to your current lender and to a mortgage adviser to see what your options might be, for instance, whether your current lender would be willing to let you remortgage into your sole name and if so, whether they would be willing to lend you anything more, and what your mortgage capacity might be with other lenders. 

Also consider what other assets there are to divide up - it may be that you could agree that you had more of the equity and that your wife had a correspondingly larger share of any other assets such as pensions, so you have a fair division over all.

xylophone

Your home is in Scotland.
On the basis that anything can happen, have you made a will?
How is your house owned?
See this post and links
https://forums.moneysavingexpert.com/discussion/comment/78029129/#Comment_78029129

With regard to the divorce/the property/your and your wife's pensions/other assets see
https://www.morton-fraser.com/knowledge-hub/brief-guide-scottish-matrimonial-law

sammyjammy

More info in OPs post on Benefits borad
https://forums.moneysavingexpert.com/discussion/6238579/help-with-ex-wife-and-housing-information-please/p1

BarbCh

KKILP said:

Hi

Ive been seperated from my wife for over 10 years who now resides in NI and have a 20 year old daughter,  I wish to divorce but due to circumstances and with COVID reducing work loads I am unable to sell the property.  She is demanding half the house anyway which I doubt she would be due as she left and hasnt paid a penny towards the mortgage or upkeep of the house since she left,  I was wondering would I still be able to get divorced even though the mortgage is in joint names?  

Back to your first post on this.... 
You can get a divorce (I'm going through one now after 5 yrs separation) the time scale just means that your reason for divorce is due to length of separation.... anything under 2yrs has to have a reason... I.e. adultery etc.
Financial settlements are a separate issue which is done between decree nisi and decree absolute.... it is sensible to sort out as soon as possible though.
It is right that a court will start at a 50/50 share but then other things come into play as others have already said on here.
It's not just property that comes into play... there is savings (so if you have any... I suggest you get shut of them ..... courts want 12 month of bank statements.... including those held jointly with another!!)
Private pensions are also put into the equation and this can be a minefield!
As for the house it's a 50/50 share of equity after the mortgage is satisfied.... despite you paying the mortgage,  this is irrelevant as it can be viewed as rent! And you are effectively renting her share of the property! 
So if it is a simple 50/50 share of equity and you can afford to remortgage in relation to that, then it's  an option.
Lots of considerations and solicitor advice is a must.... even citizens advice is a good starting point.
Good luck