yes. I'd said no earlier but i was reading the question wrong. You need to half everything. Unless you bought it after you split/divorce
2006-11-06 03:24:57
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answer #1
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answered by I know nothing! 5
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You split a flat by paying an amount equal to one half of your net equity. Say the value is 100 and the mortgage is 80. The equity is 20. One half of that is 10. You could pay the 10 by giving up some other assets. Or you could get a new mortgage for 90. You could try to make the equity smaller by asking that the cost of a sale be figured in.
2006-11-06 04:54:30
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answer #2
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answered by Anonymous
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It depends. Anything purchased during the marriage becomes a "matrimonial asset", and so is potentially in the "pot" of assets to be considered for division.
However, in the UK, if the marriage is short and childless, then you're not going to get half of a massive fortune that you did nothing to contribute to. It's certainly not as simple as saying that each partner gets half of everything. The courts would look at what each party brought into the marriage with them. Obviously if there are kids involved then their housing needs come first.
If you aquired the flat after you separated, then it is "after-acquired property" and shouldn't be considered at all.
2006-11-06 03:29:18
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answer #3
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answered by Anonymous
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Many here seem to think its a simple 50/50 divide - its not ..... there are many considerations to take into account .... not least all the things automatically considered 'mutual' and matrimonial' ..... like how long you were married for .... how much you/he materially contributed to the mutual and matrimonial assets ........ then how much you/he contributed to 'unclaimed' mutual or matrimonial assets .... how much is mutually recognised as individual property ...... to give an example ..... I used to know a gentleman (who became a friend after he bacame my neighbour) .... he bought his house independent of any partner, and at least 2 years before meeting the partner he ended up divorcing .... he had his own business and was doing ok on his own .... then he met this woman who had two children ... after six months she and the kids moved in with him ..... after another six months they married (he did not adopt her children) .... he went to work, she stayed and kept home, cooked his meals, laundered and cleaned for them - a housewife..... When they divorced we all expected that the law would agree a 50/50 split - but it didn't ... the law actually considered the cost of the property and the costs of works he had put in before she moved in and married him, then the law considered the cost of continued works to be once they married, the law also considered what she actually brought to the marriage, what finances she brought, furniture and furnishings .... but then the law also considered the 'unclaimed' 'value' of her contribution to the marriage - ie. how much her housewife duties would have cost had he had to pay an outside char to do the work ..... then the law also considered how much contribution he made to care and maintenance of her children ..... I'm not sure of the full details, but I do know the above details were considered and then a value was placed on each partners' 'contributions' ...... I can tell you she did not end up with a 50% cut in the equity of his house, nor a 50% cut in the value of his business, or assets ..... she was hoping for something in the region of £100,000 plus .... she ended up with something like £27,000 ..... to fully appreciate what I'm saying here and to find out hard facts about your own situation = you really need to, and I strongly urge you, to seek good solid legal advice from a solicitor that specialises in matrimonial law - if children are involved - then that solicitor should also specialise in childrens' law too .....
I on the other hand had no such involvements when I divorced, so it was a straightforward situation of one or other of the parties buying the other's equity in the matrimonial home bought together, there was no question of maintenance for myself because there were no 'children of the family' and I was healthy and deemed to be able to find employment and take care of myself .... the new law on pensions did not exist at the time .... but is definitely something you need to get tied up and written down in stone to protect your retirement entitlements .......
These things always end up bitter and nasty, no matter how hard the parties try to be amicable about it - it's not in solicitors' interests for their clients to get on with the spouse they are divorcing ......
I wish you all the very best ......
2006-11-06 05:28:43
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answer #4
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answered by Anonymous
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What state do you stay in? some states are community property guidelines that calls for that any property acquire in the course of the marriage is both absolutely one of yours. even as the option is authentic of non community property states. searching on what state you also stay that is going to matter upon the filing of the divorce. some require a six month waiting era even as others might want to be 2 yrs if contested divorce. i'd really recommend getting a criminal specialist on your difficulty considering that there are sources and toddlers in contact. See in case you are able to get one versed in relations regulation which will bill your ex for the price. they could substantiate that a carry is placed on the valuables and sources till the divorce, custody, visitation, and baby help is accomplished. some states have criminal specialist referrals and criminal help guidance so verify those out. Having been married that lengthy you in all likelihood qualify for spousal help even as you get on your ft besides as baby help.
2016-11-28 20:19:59
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answer #5
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answered by ? 4
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It will depend but very likely you will have to split, or at least divide in some way, all your assets, including the flat. Get a solicitor to act for you properly,.
2006-11-06 03:27:07
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answer #6
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answered by Caroline 5
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Anything purchased after you married is considered mutual property and as such can be split if he wants half.
2006-11-06 03:25:38
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answer #7
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answered by crazylegs 7
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yes..50 50 ...If your getting a divorce I strongly suggest that you and him sit down before going to your lawyer and write out everything that you want in the end..IE: home furnishings-table and chairs,microwave,T.V, Stereo..bed, etc.. Anything bought b4 the marriage is yours (his).
2006-11-06 04:29:07
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answer #8
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answered by Rain32 4
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i think the to make things fair you will have to split everything 50/50
2006-11-06 03:25:20
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answer #9
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answered by Anonymous
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the easy answer is yes its in the kitty,look at it the otherway,if he had the flat you would be trying to grab it.its female nature
2006-11-06 04:15:54
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answer #10
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answered by carboncook 2
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