DAD.info
Forum - Ask questions. Get answers.
Welcome to the DAD.Info forum: Important Information – open to read:

Our forum aims to provide support and guidance where it can, however we may not always have the answer. The forum is not moderated 24 hours a day, so If you – or someone you know – are being harmed or in immediate danger of being harmed, call the police on 999.

Alternatively, if you are in crisis, please call Samaritans on 116 123.

If you are worried about you or someone you know is at risk of harm, please click here: How we can help

Financial split, th...
 
Notifications
Clear all

[Solved] Financial split, the house and the future

 
(@IainH)
Active Member Registered

Hi guys

I was wondering if someone could help me? I've already posted the details of my situation elsewhere​ so I won't go into details here about that.

Basically my ex-wife has left me for another man. We've agreed to split everything 50-50 which includes selling our house (that I've been doing up for the last 2 years) and have joint parenting for our son. The agreement was that we would finish the house, sell it and split the money (50-50) and buy new houses in the same location. We'll then have our son 7 days out of every 14. I don't know what the pattern is but Mon to Wed (am) with me, Wed (pm) to Fri (pm) with her and then we alternate the full weekends.

So now I've said that we both need to spend time at the house to finish it. I think that's fair becuase at the moment our son is living with her (at her parents). I don't get to see him that much at present becuase I'm living in at the house which isn't​ a suitable environment for him to stay in. She's now decided that she wants to sell it in its current condition which won't give either of us enough to buy a house in the area. Shes also stating she wants more of the equity becuase she put more into the deposit (she did becuase we got a better rate on the mortgage).

My questions are-

1. Can she force a sale? We're joint owners of the property and I thought that wasn't possible.

2a. Can she demand more of the equity than the 50-50 split we previously agreed?

2b. If I fought this in court I think (hope) the court would look at the long term wellbring of our son. With the 50-50 we can both get homes in the area and maintain that part of the agreement. Is that correct?

2c. Considering I'm not from the area (I moved here​ for her) would the court look at our current or future living circumstances (i.e. her staying at her folks place and me staying here). Would that impact who got what from the equity?

3. Would it be possible (I don't want to do this) for me to bill 'us' for all the time I've spent working on the house?

Thanks for any advice you guys can give me! I don't want this to happen and I'm happy with the current agreement of 50-50 becuase that's the easiest and best solution for us and our sons future

Quote
Topic starter Posted : 29/04/2017 11:06 pm
(@dadmod4)
Illustrious Member

I think you really need to speak to a divorce lawyer on this, if you get it wrong it could you thousands. However, I would also be prepared to amke some compromises so your legal bill doesn't get too high and offset any benefit you may get.

I would consider agreeing with your ex that you finish off the house on your own in exchange for 50% of the equity - that way she gets more because the house price is higher, and you get 50% on the basis that you've put the work in to offset the fact that she pit more in initially.

ReplyQuote
Posted : 30/04/2017 1:26 am
 Yoda
(@yoda)
Famed Member

I agree with actd & nobody can predict what an individual judge would decide. The court would look at both of your current and future housing prospects while taking into account both of your financial situations.

Personally, I would get some legal advice if you can afford it.

ReplyQuote
Posted : 30/04/2017 11:46 pm
Share:

Pin It on Pinterest