Staying in the family home(6 Posts)
HLaw1 Fri 27-Dec-19 23:23:53
Northernsoullover Fri 27-Dec-19 23:27:04
Otter71 Sat 28-Dec-19 20:08:56
ColaFreezePop Sat 28-Dec-19 20:11:47
Weenurse Sun 29-Dec-19 22:54:27
Scorpioash Mon 30-Dec-19 00:53:26
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After a 30 year relationship and a 24 year marriage my husband has left me for a 32 year old. We are going through the divorce process and he is now asking for the family home to be sold. Although our children are 20 and 23, I do not want to sell the house on top of everything else. Renting in London would be financially impossible for them and heaven knows where I would live? His pension is our biggest asset, but he is unwilling to negotiate around this. The children and I are willing to try and raise a mortgage to buy him out. Has anyone done anything similar or offer me any advice? Thanks
Its not up to him really about the pension I believe. You need a solicitor. You might be awarded a larger share of property and he keeps his pension. I'm just a layman though so you need legal advice.
All the assets need to be declared. Unless the pension relates solely to payments prior to marriage, it is a marital asset and he can't change that. Then you can negotiate a split based on all assets. A solicitor will need a valuation of the pension and use formulae to assess that against the house value. Hopefully that will give you enough to buy out or buy a smaller place or one further out of London
See a solicitor and ask about it having to go to Court from the beginning due to his stance.
Also please don't accept property over pension especially if it is a final salary pension - you need something to live on when you are in your 80s and women tend to outlive men.
Agree, legal advice required on possible asset split.
Do all of you work?
Get estate agent to give you a quote on the home. See how much equity there is in the house.
Ask the bank if you could get a mortgage between you and DC and for how much.
Then do the sums based on lawyers advice about asset split.
Me and my wife are divorcing and she also wanted the home sold so me and my son raised a mortgage and bought her out. Best thing I ever done because like you I didn't know where I would be able to afford to live.
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