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Divorce/separation

Here you'll find divorce help and support from other Mners. For legal advice, you may find Advice Now guides useful.

Original poster

Not realisable assets

10 replies

mia1972 · 14/01/2022 19:32

Hello,
Not sure who might know this. I prob need to discuss this with a lawyer. We are trying mediation but it’s not going too well. So my divorce proceedings have started. Last year my mum died of covid. She left a house in italy (that is where i grew up) to me and my 3 sisters. 2 of them live there and one might move there soon. They are all financially really struggling and i am not in a position for now to sell or to ask them to buy me out unless i want to cause financial hardship. My ex is saying that the part of the house should he considered as matrimonial assetts. I am a little shocked as has always known that I was never going to claim my share. Now I don’t know what is fair but my inclination is that given is not realizable i will share that with him if and when is realised. If it’s realised in let’s say 5 years time then he can have 1/2 of that. But he has inherited any assetts by then, then he would have to split those too. Thoughts?

OP posts:
FutureExH · 14/01/2022 19:38

My understanding (finance rather than solicitor). As its inheritance and only in the last year it would probably only be considered a marital asset in a needs case (i.e. not enough money to go around to house you both without including it).

So if you can house yourselves without a Mesher Order with other assets it's probably not going to come into play. If on the other hand you are expecting him in some way to house you (e.g. Mesher Order or spousal maintenance) then it will have to be factored in.

Speak to a solicitor though.

Original poster
mia1972 · 15/01/2022 07:50

No I wont be asking him for spousal maintanance. Most likely he will ask me for that, he also wants a higher proportion of the assetts as he has not worked for a while.

OP posts:
luvfizz · 15/01/2022 19:34

You will most likely discover that it in a non matrimonial asset and he can't make claim. Furthermore, your sisters wouldn't agree to it.

Otter71 · 17/01/2022 13:06

I nominally own a quarter of my parents home since my father died 14 years ago. My mother still lives there and I can't realise anything until she passes away. Nevertheless they made my mother get a valuation of her house to count it in the assets. May depend on the solicitor or mediator I guess ..

comfortablyfrumpy · 17/01/2022 14:18

@Otter71

I nominally own a quarter of my parents home since my father died 14 years ago. My mother still lives there and I can't realise anything until she passes away. Nevertheless they made my mother get a valuation of her house to count it in the assets. May depend on the solicitor or mediator I guess ..
I had a very similar situation to you @Otter71, was directed to get a valuation at FH. However, the Judge at FDR said it should not be included as it relied on future inheritance, so it got discounted from calculations. So if you're not at final stages yet, don't give up hope!

OP I think you could argue that it's not a realisable asset and it shouldn't be included. What stage have you got to, and are you represented at all?

BraveGoldie · 17/01/2022 15:06

Based on discussions from my own divorce I think you can make a good argument that it is not a marital asset, as it just came in the last year and has never been an integrated part of your marriage experience. (ie he isn't used to having use of it).

But speak with a lawyer obviously and don't promise him anything until you do.

The fact that he hasn't worked in a while doesn't make him more deserving of assets, unless he hasn't been working in order to support your career or raise children. But they will look at needs. What do each of you need to have a decent life?

Original poster
mia1972 · 23/01/2022 19:52

Thank you. He did not give up his job to support my career for sure. He got fired got a huge inheritance and spent it all. He also needed a hip replacement. I moved for his job that he lost and ended up with having to earn and commute. Kids were equally looked after by both parents. I worked 3-4 days then they were in full time nursery and school. Of course he argues he was the primary carer but he was not.

OP posts:
user1468673063 · 05/02/2022 18:01

I half own my parent house as a future inheritance and they still live in it. My solicitor has told me a judge will not deal with our case until that is all sorted out and my parents will both have a say. Ex is pushing for ’his’ 1/4 but I’m hoping we will agree to leave it out - greedy 🤬

Threecrookedhearts · 10/02/2022 13:19

This reply has been deleted

Message withdrawn at poster's request.

Threecrookedhearts · 10/02/2022 13:22

Sorry, wrong thread. I've reported to mn for removal

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