In a joint ownership, is it possible that one owner takes all?
2006-10-16 12:52:35 · 19 answers · asked by drsheikh29 2 in Family & Relationships ➔ Marriage & Divorce
i have just got back from my solicitor today regarding this exact matter and was told the following
i left the property 3 years ago and not had any dealings with the property since then but as we bought the property together i am legally intitled to 50% of the net equity of the house up until 2003 when i left so basically any profit from the property minus any mortgage outstanding then its divided 50 50 although this may not be the actuall amount recieved there are children involved so we have been told to expect a certain amount of negotiation re the final amount but it should be somewhere in the region of 50 50
a couple of things to consider if there are children involved any money owed to you will be put as a charge on the property deed and only released when the children reach the age of 18 or if your partner was to re marry then it would have to be released straight away
also there is the posability that you may be requested to pay spousel mantienence which is dependent on your wage/income but this would have to be talked in more depth with your solicitor
good luck
2006-10-17 07:36:51 · answer #1 · answered by ag 3 · 0⤊ 0⤋
If you have joint ownership, the only way for one person to keep the property, is for one to buy out the other. And you have to offer a fair market value. If not, you'll have to sell the property and split the proceeds.
2006-10-16 12:54:57 · answer #2 · answered by Arnold M 4 · 0⤊ 0⤋
Unfortunately it's all at the discretion of the judge. There are loose laws governing this which vary from state to state, but it really is at the discretion of the judge. If you get some b**chy judge who hates men odds are the guy is going to end up giving everything to the woman and pay alamony for the rest of his life. If it's an honest judge odds are it'll be 50/50 or so. Your honest to goodness best bet is to negotiate a settlement before it even goes to court.
2006-10-16 12:56:12 · answer #3 · answered by AirDevil 4 · 0⤊ 0⤋
possible but not probable. Are you going to give away your share? My husband and I are both on the second time around and both middle aged. We agreed right from the start no more to lawyers. If we split we both stay in the one house and just go to opposite corners. If two people no longer cohabitate why can't they share a home still
2006-10-16 12:57:36 · answer #4 · answered by Anonymous · 0⤊ 0⤋
there is no owner if you are married its 50 50 but if there are kids involved who ever has the children could get 70 and the other get just 30 owing to the fact they have to make a home for the children depending on how good your solicitor is
2006-10-17 04:06:44 · answer #5 · answered by Anonymous · 0⤊ 0⤋
You can split the assets anyway you want if you both agree, but its usually a 50/50 split and that's the fairest outcome for both parties.
2006-10-16 13:33:52 · answer #6 · answered by snogger18 1 · 0⤊ 0⤋
if you both agree to it then yes one can have it all, but not many people say,"take it all". most deside to split down the middle. I got a divorce years ago and was a nice person, didnt take anything!
2006-10-16 12:54:59 · answer #7 · answered by mouse3801 4 · 0⤊ 0⤋
No you can split it any way you want, as long as it's "amicable".
For instance you could keep the house as long as she gets a cash settlement she's happy with.
In real terms however, the word "AMICABLE" usually means that the woman gets it all the way SHE wants. I hate that word.
2006-10-16 12:57:01 · answer #8 · answered by Not Ecky Boy 6 · 0⤊ 0⤋
Yes. There is no state which does not mandate a fair separation of worldly goods. Only in some extreme case (murder) might that be ameliorated.
2006-10-16 12:55:04 · answer #9 · answered by Isis 7 · 0⤊ 0⤋
usually you must split the property,unless they are willing to sign off, or one can buy the other one out. best to talk to an attorney about this.
2006-10-16 12:55:32 · answer #10 · answered by jude 7 · 0⤊ 0⤋