Prevent wife from selling matrimonial assets

motorman99

Hopefully someone can help
first time poster please be kind

we are getting divorced, it will not be amicable. 

My wife owns 2 rental properties which are a good part of the household income. 

I do realise that I can’t receive any rent from them, but I’m apprehensive that ensue may try to sell them before the money side of things is sorted out. 

Also I appreciate that any action I take may be reciprocated as I own the matrimonial home in my sole name. But I’m not bothered about that I have no intention of selling. 

Haven’t yet appointed a solicitor. 

Thank you in advance for all replies

motorman99

Above, not ‘ensue’ but ‘she may’. 

I hate predictive text. 

Keep_pedalling

if she sells then the cash becomes part of the matrimonial assets, so it makes no difference unless she does a bunk overseas. Selling them would not be straight forward if she has sitting tenants.

just sort yourself out a solicitor ASAP.

BrassicWoman

How long have you been married?

motorman99

14 years. 

About 13.9 years too long….

re post above…yes I agree about the cash but cash can be disposed of quite quickly 

motorman99

Can I apply for a beneficial interest in the rental properties?

BrassicWoman

get a solicitor. you'll need one anyway.

Martin_the_Unjust

In my experience and from observation, there are two distinct types of people involved in a divorce, those that cannot let go and become, to a greater or lesser extent bitter and those that do let go, get on with life and end up, again to a greater or lesser extent, happy.

You sound like your in danger of going down the first route, consequently here is Martin the Unjusts easy steps to a simple divorce and a happy life.

1. employ a solicitor
2. listen to and do everything they advise.
3. stop worrying about what the ex might or might not do 
4. move on and enjoy your new life.

sassyblue

Who owns the two rental properties, your wife solely or are they in joint names? Who paid for the items she’s selling? 

Also, can you see adverts offering items for sale and at what price so you can keep note of how much money she’s getting? 

And get a solicitor today.

TBagpuss

roughly what is the equity in the rental properties and what is the equity in the matrimonial home? 

It's possible to take steps to prevent someone from disposing of assets - a court can make injunctions to prevent it, for instance, but obviously it adds to the cost so isn't something to do unless it is absolutely necessary.

 IF she disposes of significant assets after proceedings have started but before financial matters are settled then you can raise it in the negotiations and in court - a Judge can chose to 'add back in' any assets which have 'disappeared' (e.g. if she sold a rental property and claimed that the money was gone, a Judge could chose to treat it as being an asset she still had, for the purpose of working out what was fair over all. That way, if she hid, she's still got it and is no worse off, if she actually disposed of the funds and they are really gone then it is her loss not yours) 

If the equity in the properties is significantly more than that in the family home then you may want to talk to a solicitor about whether you can apply for any kind of restriction

Monsternextdoor

Did your wife own them before you got married ? 

Or did you buy them during the time you were married.