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Buying out before divorce

(12 Posts)
MoneyHoney Tue 13-Nov-18 10:44:33

The basics...
Separated six months
Planning to divorce on grounds of separation in 18 months
He would like me to buy him out, I am able to

How do I protect myself legally if I do this? Is it even possible?

Thank you!

OP’s posts: |
MissedTheBoatAgain Thu 15-Nov-18 02:20:00

Planning to divorce on grounds of separation in 18 months

After 2 years separation the Divorce will be granted if BOTH Partners agree

If they don't agree then you may have to wait a further 3 years to make 5 in total. Refer to the recent Owens case whereby the wife's application for Divorce after 2 years separation was rejected by the Courts.

If you decide to buy out husband before Divorce it needs to made clear that the house is no longer a Matrimonial Asset and your husband will have no claims on the property in the future. Suggest you seek professional advice on this and get a document prepared that provides the protection you are seeking.

Worst case scenario I can think of is that you buy off husband now, but he gets another bite at the cherry when the Divorce takes place, which if he is awkward may take up to 5 years in total.

Good luck.

MoneyHoney Thu 15-Nov-18 07:05:44

Thank you - that's my concern, if I've learned anything from Mumsnet it's that's everyone's best friends and amicable to start with!
I've made myself a solicitors app for Friday to check whether it's legally possible to get that protection.
I will feed back after then - once again thank you for responding smile

OP’s posts: |
itsnowthewaitinggame Thu 15-Nov-18 07:15:42

I bought my husband out after a few years of separation as he wanted to buy something new with his gf. We then waited until the children were grown and quietly got divorced with no solicitors and hardly any cost.

MoneyHoney Thu 15-Nov-18 08:45:50

That sounds a great way to go - I hope for similar. There's no chance of any reconciliation but I also don't want to waste a fortune on unnecessary legal fees

OP’s posts: |
MissedTheBoatAgain Fri 16-Nov-18 02:30:04

but I also don't want to waste a fortune on unnecessary legal fees

If your Ex is obstructive or turns the Divorce into "I must win at all costs" contest it may be that Courts are unavoidable. However, Courts have the power to award costs against either partner if they conclude they have been obstructive and the proceedings have taken longer than necessary.

Good luck

Monty27 Fri 16-Nov-18 02:33:49

I did it. It's a simple case of remortgage
Good luck flowers

MissedTheBoatAgain Fri 16-Nov-18 03:26:24

It's a simple case of remortgage

Even if property is in one partner's name only it can still be considered a Jointly owned Matrimonial Asset.

I would say that OP's decision to discuss with solicitor first is safest.

Monty27 Fri 16-Nov-18 03:28:22

They won't allow you to do it before ime. It's all part of the divorce settlement

MissedTheBoatAgain Fri 16-Nov-18 04:25:13

It's all part of the divorce settlement

OP has not yet started a Divorce. I can't think of a reason why one partner would be prevented from buying the other one out before a Divorce?

In this case the OP's husband has requested that she buy him out. Makes sense to divide assets by mutual consent than spend a fortune on legal costs. Worst scenario is that Courts make an order than neither partner wanted.

MoneyHoney Fri 16-Nov-18 06:29:54

My worry is that it could be as @MissedTheBoatAgain says, and on divorce he comes back for more because he can!

OP’s posts: |
Ss770640 Sat 17-Nov-18 18:42:36

Get houses valued today and document proof the relationship is over. Eg move out date.

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