Starting Divorce proceedings in January

angelinamay

 Hello, as the title says, Divorce starting in new year. I've spoken with a Solicitor that suggests we have mediation re the financial split. I purchased a small house when I left, the marital home is much larger and worth a lot more. As we both own the property - according to land registry we both own it 100% (don't ask me how that works!) and he's adamant he will NOT sell the house. I doubt greatly he has (at least) half the value of the house to pay me, and at age 74 unlikely to be given a re mortgage. The property is owned outright.  My question is, could the court INSIST that he sells the house?
Thank you

turnitround

It may not be a case of him having to find half the value of the marital home.  When you add the house you live in now to the mix plus any pensions, savings etc it may be that he can find enough to buy you out, perhaps equity release or suchlike to enable him to stay in the property.

angelinamay

Thank you turnitaround.  The combined value of properties approx £600,000, my house only £150,000 max. He wouldn't consider equity release as wants to leave the house to the grandkids. It's not just the house value though, is it. It's the furniture (I purchased the majority over the years) His pension will only be a few hundred at most more than mine too. 

turnitround

I saw your earlier threads regarding the situation and see that you had been married 40+ years and have been separated 10 years.  After a marriage that long I dont think that who paid for the furniture will matter. Its property savings and pensions which will be totalled and split.
You had a lot of advice on the earlier threads so what is different now?

angelinamay

Thanks turnitaround. It's actually 53 years this year, and he's agreed we should start proceedings whereas he wouldn't before :-).  Thanks for your interest, him actually agreeing this far is quite an achievement!  I believe incomes are taken into account, such as the payments from the FiT on the solar panels, interest twice a year on his shares (from a Golf club) of which I don't receive anything. I have a reduced state pension and small works pension. So I think they lump the whole lot together.  Are there any situations where they don't split 50/50, but rather split 60/40 instead? 

Keep_pedalling

From your opening post it seems you own the house as joint tenants and if either of you drop dead tomorrow the survivor will own the house outright. It would be wise therefore to sever the tenancy so you own 50% each. You might be wise to review your will as well, assuming you have one.

elsien

50-50 is the starting point. It can be varied depending on individual circumstances..

Stateofart

Starts at 50/50.  The question is, do you have enough to pay him his half?  Everything you own in a pot, divided by two.  If you need to sell your house, or he needs to sell his, that's how you do it.