Inherited house

[SJMummy50]

Hi, bit of a unique one this, so not sure if anyone has similar experience. A few years ago my husband's parents transferred their house into his name but still remain living in it. It has no mortgage but husband obviously can't do anything with it whilst they still live in it (both in their 80s) but would it be counted as an asset as part of a divorce in any way? Thanks.

Disagree! The parents worked hard to ensure that the family pot is directed to their offspring and their offspring’s offspring. No way did they ever intend for it to roll over to some floozy getting on in the scene and misguiding the parent’s offspring to do stupid things such as leaving his offspring and throwing them out onto the street. You grab hold of your children’s rightful inheritance as much as you can, and you have my permission to be grabby, because your hubby is a little shit that does not think with his head and will soon dine and wine your kids rightful inheritance till there is nothing left. By the time he realises that he’s not that special and neither is his sleazy squeeze, have your head screwed on properly and get the most you can to secure your kids. You don’t want them in rentals forever putting pressure on their future families, these kids were and should be secure and that kind of madness your hubby is going through comes and passes but having it all squandered away would not be the kid’s grandparents wishes, believe me.

Seriously? Sounds like the hubby is grabbing a whole lotta something else and throwing his kids onto the street. OP please ignore this nonsense. Secure your kids. You can not rely on your husband for anything.

This thread is an example why I would never get married in England. Ridiculous how grabby and entitled people are.

Why on earth do people do this - do they think it's going to protect the asset against needing to be used for care?

Well @Randomperson99 you are living up to your name here. You need to read the room. Everything in marriage is 50/50. Perhaps OP’s DH should have thought of a prenup, but alas the DH was busy in the side. In England 🏴󠁧󠁢󠁥󠁮󠁧󠁿 the family break up can not be to the detriment of the DH and OP’s kids, hence no bad feeling for the grown up kid DH not getting grabbier than what he is. And your views of OP being grabby are most unwanted we don’t need a man’s grabby opinion on this on MumsNet. If you decide to remain single that is also fine, but with such comments I am not sure it is by choice.

Well I went out for the evening and came back to all these replies. I need to make it clear, despite husband's affair, I am not after revenge or anything like that. I respect his parents right to remain in the home they have gifted him, of course I do. All I am trying to do is get to a good outcome for both- he will be able to live independent of me (and he will live with his affair partner who also has an income), I hopefully wil remain in the family home that is near the children's school and is the home they have grown up in- his parents will remain in the home they have gifted in. Surely that is a good outcome for all. And I am not 'grubby'.

Yeah @CurlsandSwirls she should not have to clarify her intentions. Just reading her post broke my heart. It’s great that she’s in a good place though.

It would be considered a marital asset. That's the point of marriage - what's yours is his and what's his is yours.
Did your DH pay CGT when he was given the house?

No he did not pay CGT but that may be something to do with German law.

He wouldn't need to pay CGT even under UK laws. That's due upon disposal of an asset.

Would CGT need to be deducted when valuing it for the pot? Even though it won't be sold, it could be argued its ultimate value is what's left after the tax is deducted? One for the legal people I guess.

Personally i think if your husband's parents are still living there, it is morally wrong to look at it as a disposable asset to be divided in a pot for divorce. It would be a different situation if they were dead but they are not.

Yes the parents have been sly with avoiding inheritance tax but 2 wromgs dont make a right.

Just because legally you may be able to do something, doesn't mean that morally you should. To me, morally that house is completely separate to your own marital assets and pension. lt may also be complicated with it being a foreign property now we are not in the eu.

Personally i think when people start suggesting low blows like this that divorce becomes more acrimonious quickly. Better to appeal to your exs better nature rather than lower yourself to his standards.

It's his house if it's in his name. That's the risk you take in dodging inheritance tax.

Of course I wouldn't kick them out but I'd totally use it for leverage. It will have a material impact on his financial circumstances in retirement won't it, potentially as much as a valuable pension.

As I have said, I have NO intention of forcing this house to be sold and his parents will remain there. I see it as leverage for me to pay him 40% of our house equity as opposed to 50% which will avoid the family house to be sold and the children can have some consistency in their life. He will be fine with 40% as he starts his new life with his affair partner of ,2 years.

Your ex if he can afford it should work with you to maintain stability for his kids.

If you go there with the foreign house- first its best to get advice as you may find its extremely complicated for it to be included anyhow in reality,.

Secondly you will be upsetting your exs parents considerably (as they will most likely be completely livid if he tells them). If you want any sort of positive relationship with your exs parents that will be ruined imo. Re people saying it is for your kids inheritance, that is a reasonable point and you could argue that part or all should be included and written up as inheritance for your kids to protect them as part of divorce negotiations, but seeking to include it as marital pot money and using it as a lever when it is basically elderly people's home is going to make things more acrimonious with both your ex and his parents imo.

Re your wanting to stay in the marital home,if you cant afford it, perhaps there is someone on your side of the family who can help you out financially or you can negotiate a delayed sale with your ex until the children are older.

@Potluck22 it isn’t just liquid assets that are taken into account though, pensions are also included. I think the fact he is unable to sell it due to sitting tenants would reduce its value though.

This! In Germany it wouldn't be included in the marital pot at all. So parents would understandably hate you forever. You would ruin the relationship of the kids with their grandparents and so on. Don't be so grabby

OP. Speak to your solicitor and include everything including the house in Germany. Then leave the negotiations to the lawyers. So fed up of women being told to be kind, roll over. Your children are your priority. Use every weapon in your arsenal to secure their future. It's not immoral or grabby to expect a fair distribution of marital assets.

I also agree sometimes as I don’t have kids so everything I have is mine only. . But this time they have kids and the scumbag is trying to make his kids homeless . She should take him for what she can. He’s a real piece for doing that to his kids. She should have the family home and whatever else.

Secondly you will be upsetting your exs parents considerably (as they will most likely be completely livid if he tells them). If you want any sort of positive relationship with your exs parents that will be ruined imo.

If I was the OP's mil, my anger would be focused on my ds. Cheating on their mother/attempting to make my grandchildren homeless is not behaviour I'd find acceptable. (My ds is still at primary school but I hope I'm raising him better than that).

Personally if he's being difficult, I would have zero issues upping the stakes. His parents should have taken full legal advice including the fact that he presumably lives in the UK/is married to a British citizen before transferring their house over.

If I decided to divorce my dh (is eating the thoughtful gift I bought his sister for Christmas grounds?) l, I couldn't touch my inlaws considerable estate because it's all in their names.

Your position is far from grabby. I think if it can help achieve the goal of you keeping the family, it will be a very good thing for your children, and everyone else keeps a home or has the means to buy a new home. I hope it works out for you, best of luck

He has royally fucked up in that case.

Yes, depending on your situation I think it's fine to go for the house.

We jointly decided that i give up my earning power at 21 and i have been either a SAHM or part time for 16 years. If my husband then decided to have an affair and he had an asset like that, I would 100% go after it if I legally could. In that situation there is little I would not do to secure my future.

Just sounds grabby you never contributed to that house yet you want a slice of it

@rwalker Depends on their circumstances while they were married and what decisions were made then.

Did OP and her husband decide he was the breadwinner and she would support his career? If so, any asset in his name now is fair game.