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Hi,
I am hoping for some advise as I cannot afford a solicitor at the moment. During my divorce (which happened to be the same time my father passed away). It was assumed that as my father had passed I would inherit 50% of his property (the other 50% is my brother) which is abroad (in India).
My father passed away in 2015, property was valued at £500,000. It was deemed that I would have a capital interest of c£200,000 from the property. Over the last few years my ex has been saying that I have unearned/diverted income etc and this property was cited. The court decided last year that 8% of £200,000 = £16,000 should be added to my income and backdated from 2020. This has meant that my CMS payments have increased dramatically which I cannot afford.
My question is that this property is NOT legally in my name. I am currently having to go to the courts to get it transferred into my name. I receive no income from the property and whilst I do hope that it shall be in my name soon it is not. The court process in India is long and due to covid, family matters the property has been dormant and remained in my fathers name. Should this still be included and backdated? I am happy for it to be included once it is legally in my name.
Many thanks,
hi,
yes this is one of CMS policies that they can apply asset variation/notional income on any inheritance money that you receive.
more info:
The CMS can apply notional income to assets that are worth more than £31,250 and aren't generating income.
The CMS assumes that the asset could generate income at a rate of 8% per year.
This applies to many types of assets, including land, money, shares, and virtual currency.
The CMS doesn't apply notional income to a paying parent's primary residence.
https://www.gov.uk/government/publications/child-maintenance-how-receiving-parents-can-ask-us-to-consider-other-income-factsheet/variations-explained-a-guide-for-receiving-parents#:~:text ='notional%20income%20from%20assets'%20%2D,is%20%C2%A331%2C250%20or%20more
with your CMS payments, are you on direct pay?
Thanks for the reply.
The CMS payments are on Collect & Pay which is even worse. Largely because I am no amicable relationship with the ex.
So whilst I understand that "CMS can apply notional income to assets that are worth more than £31,250 and aren't generating income.
The CMS assumes that the asset could generate income at a rate of 8% per year."
I have two questions.
1. The property in question is not LEGALLY in my name therefore it is not my asset as yet. I have no control over it right now. So until I do are they right to apply notional income to it?>
2. If a property is not generating income how do they expect someone to pay?
Thanks for your repsonse. Keen to understand point 1/
hi,
have you received the £200k inheritance?
I am not knowledgeable in this area, you could seek advice from this org:
also recommend this support group:
https://www.facebook.com/groups/239699060076601/?ref=share
with collect and pay, they should take you off it after 6 months, if you asked them, unless it's in place permanently due to domestic abuse.
@dadmod2 Ok I will use the links you suggested. No I have not received anything. The £200K is the value of the property abroad that is still in my late fathers name. I am due to inherit it, but going through a court procedure to get it transferred to my name. At the moment it's still in my late fathers name. I get no income from it, the property is dormant.
If I can come off collect and pay do I need my ex's consent as I am guessing it means I pay her directly from my ac
count to hers
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