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Meeting with solicitor re selling family home(5 Posts)
What do I need to ask?
Obviously want to guarantee it's 50/50 of proceeds, want to ensure dc are paid back money borrowed from their credit union accounts, credit union loan for home improvements gets paid off.
But what are other things I should be clarifying - furniture? Appliances etc
Has anyone any experience of this?
It's a negotiation - try to keep it amicable and sensible or (as always) solicitors costs will be higher than the value of the contents. Either split it, or one person can "buy" from the other.
In my case, because my ex was buying me out of the home we agreed she would give me £2k and keep all the white goods and furniture etc.
Things aren't at all amicable so hence the solicitor!
I don't discuss things with him at all because he twists what I say or remembers conversations completely differently
Do I need to speak to mortgage company first?
Sorry just re-read your first post, I thought you were just talking about dividing up the house contents at first glance for some reason yesterday!
The proceeds of the house should be discussed alongside the broader financial settlement between you and your ex. So you'll both need to draw up what assets you have (house, savings/investments, pension) and your liabilities (loans, mortgage, credit cards, etc), and then negotiate who gets what.
The starting point for discussion will be a 50:50 split across all assets, but it doesn't often ultimately work out that way, as the split of assets will differ according to "needs". Typically the person who a) has the children the most and b) earns the least, especially if they have sacrificed a career to look after children will get a larger share of the assets.
Often what can happen is that one party can trade off their share of a pension, for example, to get a higher proportion of the house - this can make it much easier to afford to buy one or even stay in the existing house, but it will depend on your individual circumstances and preference. You should be able to get a good steer from your solicitor as to your own circumstances.
As I said in my first post, who keeps the actually contents of the house should be negotiated, but I would certainly recommend not bickering over the small stuff if possible.
I'm the person who has the children most but also the person who earns the most.
I've been paying off the credit card debt to save my pension, value roughly the same.
Staying in the house is not an option for me and he couldn't afford to buy me out. If he could it would be ideal.
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