used my inheritance to pay off mortgage, now divorcing, do i "get" it back ??

[catfourfeet]

Hi

5 years ago used a gift from my sister £80,000 to pay off mortgage.

Then 3 years ago used inheritance £20,000 to move to bigger house.
house worth about 220,000 current moprt 20,000

in divorce would he get 100,00 and me get 100,00 ?/
thanks

[catfourfeet]

ps

house in joint names

[kilmuir]

doubt it

[mumblechum1]

Contributions are taken into account, however you won't necessarily "get back" all of your extra contributions, depending on various factors. I suggest you google Matrimonial Causes Act 1973 Section 25 which sets out the checklist to be considered in deciding the capital division.

[CocktailQueen]

Def get specialist advice - it seems only fair that you should get some money out of it, given that you used your money for a house in which you both expected to live...

[catfourfeet]

thanks for al the advice,
I do have a solicitor so will need to talk it through with her,
just hope i can get some back

ta

[Selba]

Your ex might be reasonable about it, as I was. My ex had put a lump inherited sum towards our jointly own house. It would never have occurred to me not to give it back when we split up

[Selba]

It would have been completely immoral for me to benefit from the death of his grandmother.

[awwwwmannnn]

the £80,000 you paid to finish the first mortgage will definitely be taken into account, but only in so much as it will be transferred to the new mortgage - so where you have now put £100,000 into the new mortgage, that leaves the balance of equity/mortgage to be determined.
if your ex pays a contribution towards the mortgage as it now is, then this of course will also be taken into account, however as you have paid the lion share of the mortgage, which has allowed a smaller mortgage to be put in place - the odds will probably be something 75%/25% in your favour.

[McKenzie13]

Hi catfourfeet,

It's not a case of "one size fits all" in finance matters so take heart. Much depends on various factors suchas how long you two were married; whether you have any children;how old the children are; what are their current and future needs; what yours and his current and future needs are; what you both earn; how old you both are...

The "gift" from your sister would be viewed as a loan to beenfit the marriage. All assets and liabilities are all put in the "melting" pot to be divided up- the good, the bad and probably, the ugly.

That said, this is money and like with most things it's all up for haggling. It is often said that you get what you negotiate in court.

I don't know how far (if at all) you are along in applying for ancillary relief but you would get more of an idea of what he's looking for and what he has (or hasn't) disclosed when you receive his Form E.

Here to help.