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Hello. My wife and I separated in June 2014 (we also agreed that she would have custody of our daughter).
We agreed the same year on a settlement based on the then 2014 market value of the house and I paid to her the money that we had agreed on.
Our divorce became absolute in 2018.
In this year, 2019, I sold the house for more than we agreed it was worth in 2014.
My ex-wife is now demanding that I pay to her half the difference between the two valuations.
Can she demand this money and do I have to pay it to her now we are divorced?
Thank you.
Hi there
I’m not really up to speed on the financial side of things, so this is only my opinion, but I think ex wives can return for more of the pie, unless there was a clean break order included in the final settlement order.
I would have thought that as she left the marital home in 2014 that would be the timeframe for working out the share of equity. You may have spent money on updating the property, repairs etc, which you could argue should be deducted from the sale price, if it transpires you are liable to pay some extra. I would have thought she would have to apply to court to get more and once she factored in her solicitors fees, any profit would be eaten up!
It’s probably worth getting some legal advice about where you stand.
All the best
I presume there was a financial agreement as part of the divorce order, in which case, it's that order which should hold sway, not what she wants now. My thoughts are that you bought the house from her in 2014 by paying her half of the valuation at the time, any profit from then on should be yours. She had the opportunity at that time to buy a property with the money you paid her, and you wouldn't expect to take a share in any profit she had made on that.
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