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Being brought out of marital home

ThirstyHursty
Posts: 3 Newbie

Hi, I am new to this and am looking for some advice! My husband and I have separated but are still living together. He has been accepted for a mortgage to buy me out of the property. My Solicitor who is only dealing with the transfer aspect has just mentioned for me to find out if there is anything else i need to do to protect myself with this transaction? Any advice appreciated. Thank you.
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Comments
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He probably means getting a financial order agreed which includes taking into account any other assets on both sides, including savings and pensions. Not just the property.All shall be well, and all shall be well, and all manner of things shall be well.
Pedant alert - it's could have, not could of.1 -
Are you actually divorced yet? Financial settlement in progress?
Any plans to remarry before the financial settlement is signed off. Don't.
Any plans to buy your own house?If you've have not made a mistake, you've made nothing0 -
No mention of divorce at this time. We are still married and living in the same house. No plans to remarry. I was just asked to check if there was anything else i should do other than sign tje transfer of equity?0
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Do you understand the potential danger in which you are putting yourself by this precipitous action?
Please book a half hour with a good family/divorce lawyer. Many will offer it for free.If you've have not made a mistake, you've made nothing1 -
RAS said:Do you understand the potential danger in which you are putting yourself by this precipitous action?
Please book a half hour with a good family/divorce lawyer. Many will offer it for free.
Whilst you are married (i.e. not undertaking divorce proceedings) then that leaves you both at equal risk. If either of you meet someone in a year or two and start new lives, that is when things can get very messy.
My brother and his wife split many years ago. No children, never divorced and both owned their own homes eventually. They remained the best of friends, went on holidays etc. She passed away a three months ago, had no will and everything just went to my brother. I guess there are occasions when divorce isn't a priority but understand the implications. At the same time, DON'T get divorced without a financial order in place.1 -
"Do you understand the potential danger in which you are putting yourself by this precipitous action?
Please book a half hour with a good family/divorce lawyer. Many will offer it for free"
Can you tell me what the potential danger is please?
Thank you0 -
If you remain married, your assets are his assets and vice versa. That includes money, future inheritance, future windfalls & pension pots - no matter how many years you have been separated.
If & when one of you wants a divorce, you'll remain financially tied until a financial order is agreed - that means having to then settle the above issues years down the line when the situation has been dramatically complicated by the passage of time / life. Your also at risk of the marriage trap once your divorced i.e. you meet someone else, get married but ex doesn't... and then one day he seeks a financial order - expect to get nailed hard in the courts in such a scenario.
Without a financial order, there will always be the possibility of him claiming your assets (or viceversa).
I.e. How will you feel if your ex's physical or mental health spirals after the breakup and his assets & wealth plunge into debt, whilst you manage your assets well & build a stable future... only for a decade from now to face a legal battle over ex wanting 50% of your assets?
You need a financial order and are setting yourself up to fail if you dont get one.
A financial order gives you a clean break and prevents any future claim from either of you - security for the future.
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