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Splitting house in a divorce

(2 Posts)
Discomama Thu 29-Aug-13 19:35:42

My ex wants to buy me out of the family home which he lives in (refused to move out so I had to move into rented with the DC's) he believes I am entitled to half the equity but a friend has said I am entitled to half the value of the house....I haven't been to a solicitor yet,so have no idea, but of course I will go to a solicitor, just wanted to get an idea really, thanks

STIDW Thu 29-Aug-13 20:38:31

Please do see a family solicitor to see where you stand and what options there are in your particular circumstances.

If you are married the value of any asset (including equity, pensions, savings and investments) held in joint or sole names forms the matrimonial "pot." This is then shared according to a checklist of factors in s25 Matrimonial Causes Act 1973. When there are children their welfare is the priority.

There is no law that assets are shared 50:50, or at least it's a simplification of the law. Splitting assets 50:50 applies when there are enough assets to meet the needs of both parties and neither party has made an exceptional contribution. That doesn't apply in many cases and the needs of the parties are at the top or near the top of the checklist of the s25 factors.

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