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Deed of Trust

(8 Posts)
JLbaby Thu 02-Feb-17 20:29:59

I'm also posting this in divorce/separation but relevant here too.

Am in the process of separating from H, we have 2 young kids and own the house. When we bought the house we signed a Deed of Trust. We are now in the process of separating and was wondering whether solicitors would take this into account when doing the divorce process or not?

If it's relevant, when we bought our first house, he put the deposit down (we weren't married at the time), we signed the Deed of Trust, then got married, we sold that house and bought another (the current one). Signed another Deed of Trust, so will this be taken into account during the divorce process?

Thanks.

Collaborate Thu 02-Feb-17 21:36:59

Unlikely to have much if any effect. those trust deeds are only of use if you separate not having married.

Arcadia Thu 02-Feb-17 21:45:29

Not much effect unless your assets exceed both your housing needs which for most people is (unfortunately) not the case.

Arcadia Thu 02-Feb-17 21:46:29

It's more relevant what your respective mortgage capacities are and who the children will spend majority of time with.

JLbaby Thu 02-Feb-17 21:55:53

Children would spend more time with me I imagine as I am the primary carer as I work part time (and also don't earn enough to be able to get a mortgage). H earns 6 figures so would easily be able to get another mortgage.

Arcadia Thu 02-Feb-17 22:16:09

You would be looking to get a far greater chunk of the equity then if sold, or seek an order to remain in house until children older or you remarry (a mesher order). Also you should get spousal as well as child maintenance. See a lawyer! Good luck.

JLbaby Fri 03-Feb-17 06:32:26

With the mesher order, how does it work? As I couldn't afford to pay the mortgage/bills on our current house on my own - would he have to contribute?

Arcadia Fri 03-Feb-17 09:20:44

The mesher order allows you to stay in the house. You would have to pay the bills and mortgage so that is why you would probably need spousal maintenance on top of child maintenance.

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