Housing deposit(6 Posts)
NewName19 Thu 17-Oct-19 13:58:07
Twirlypoos Thu 17-Oct-19 14:02:33
NewName19 Thu 17-Oct-19 14:06:26
Collaborate Thu 17-Oct-19 14:13:47
Collaborate Thu 17-Oct-19 14:14:00
NewName19 Thu 17-Oct-19 16:46:41
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Hi, after a bit of advice.
I have a feeling that my husband and I may be heading for a split.
We’ve been together 15 years, married for 7 and have 2 children.
My husband put a substantial deposit (over 50k) down on the house which we jointly own. The money was left to him 6 years ago as an inheritance sum so was in his name alone.
How would this work in terms of splitting? Would it all go back to him as it was his inheritance or would we have to share it?
I’m curious as this would make a big difference to me in terms of being able to afford to live alone with the children or not. Neither of us could afford this family home alone so would have to sell and I’m only part time employed and with the age of the children couldn’t go full time yet.
If he didn’t protect his deposit and the house is jointly owned then it all goes in the marital pot to be split, as a starting point of 50/50. You need to see a solicitor
Thank you, that’s what I thought too.
It might not be 50/50. It depends on reasonable needs of you both. In a 2001 case a husband lived for 4 years in wife's property purchased with her lottery winnings (found to be hers, not joint) and he was awarded 17.7% of the assets.
Reasonable needs trumps everything, but if they can be met by dividing according to what is fair taking in to account contributions then those shares might not be adjusted.
I guess it all depends on wages / income / ability to find somewhere to live on wages etc
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