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.

He had the affair.
His parents gave him the asset to avoid paying tax.

Why should OP and her kids loose out because of other people's immoral actions (yes tax avoidance is immoral)

Take whatever leverage you can to get the best outcome for your children

I think your heart is in the right place as you are showing compassion to your in laws. If he struggles with not being as rich as he feels he should be well that’s what happens when you have a roving 👁 eye. You should not care much about how little he has left. Just take care of the kids and secure them.

You are trying to secure your children's got yes. If you can use the house as leverage, absolutely do. What a shit he sounds.

Ii's not just 'English Law', it's his property now.

I think the issue of whether it is considered a joint marital asset depends upon where you live and how much discretion the court might have in making that determination. If the parents did not include both of your names on the title transfer, that can be construed as a statement of the intent as to ownership.

Transferring ownership to avoid inheritance tax is not illegal in many countries and is something that estate managers and financial planners often advise.

People seem to be missing the fact that she doesn’t want to take the house, or kick out the parents. She just wants to use the THREAT of such a thing to ensure she gets to stay in the family home with the kids. It’s not her fault her husband is a lying adulterous knob, or her kids, so why should they suffer? Perhaps the idea of their home being under threat will hammer home to the parents what a turd their son is. That’s on him not you! Also might help him realise that actions have consequences and he can’t compartmentalise who the victims of his behaviour are.

Do what you need to do to keep your children in their home. Any fall out from that is his fault. Last time I checked I don’t think it’s grabby to want to ensure your children can remain in their childhood home after their dad decides to shag around and blow up the family unit, but what do I know?

Stop telling this woman to ‘be nice’ because he won’t be and once again it will be the wife getting shafted. She owes him exactly the morals he’s shown her and their children - fuck all!

Oh and for people saying that him having less from the family home is the same outcome as the parents losing their home, it’s not. It will be him that’s poorer, not them. As should be the case. All the financial losses of this situation should be on him.

If the house was in the UK then he'd have to be charging them a market rate and paying tax on it. Suspect it is the same even though it's in Germany. You need proper legal advice but this is dodgy and could be significant leverage.

Many years ago my father transferred his house into my name in the form of a 'deed of gift' - part of the legal arrangement was that he would live in the house until he died. Surely his parents have protected themselves in a similar way.

I was in a situation with some similarities when I divorced exH. He was abusive for years, so I have very little sympathy for him anyway, but he tried to force me to accept a very low offer to buy me out of the marital home, so he could afford to move the other woman and her kids in. He got very nasty. His parents had gifted him shares in the family business several years before, after we were married. It was done entirely for them to avoid tax, but also meant that I was no longer eligible for support whilst studying, so had a negative impact for me at the time.

When we split, exH tried to argue that the shares weren't a joint asset, our solicitors disagreed, and they were taken into consideration when splitting the rest of the assets. This meant that I actually had enough to buy a new home for my DDs and I (with a mortgage).

I did make it clear that I had no intention to force sale of the shares, or to try to take ownership of them, just that I wanted ex to pay me a fair amount for my share in our house, which he did in the end. He got to keep the shares, the house, his pension, the bigger car. I got enough money to be able to buy a much smaller house (with a mortgage). He will have a future income from those shares to add to his retirement pot, whilst I was the only one negatively impacted by them being put in his name.

If people want to say that I was grabby because I insisted on being able to afford suitable housing for my DDs and I, that's fine with me. That's your opinion, and we don't have to agree.

OP, I suggest that you speak to your solicitor about this. The house being in Germany may or may not affect things. Your husband is set to benefit from owning that house at some point in the future, just as either of you would from a pension, or other investments. You can ask for it to be considered without it affecting his parents.

Surely the fact that the house is in Germany is significant, especially as we are no longer part of the EU. I would suggest you need a lawyers experienced in dealing with assets abroad.

Again an example why never in a million years I would marry in England. I rather stay rich.

In Germany this would be excluded from the pot as it is clearly NOT a marital asset.
If it is included also the inheritance of OP should be included.

Yes as leverage. I would consider it were me, ensuring that the offer you make him allows enough money to pay the deposit on a new place to live, the courts look for suitable housing for both as a priority if a couple cannot agree.

I would personally as a starting point say to him let's keep our own pensions, I'll buy you out of the family home for £xxx in return for not making a claim on the German property.

Can you please explain why (in the situatuon I outline here) you believe I should be disadvantaged in the case of a divorce caused my my husbands adultery?

Ive not been sat on my arse for 16 years...iv been bringing up children and running the home so that my husband can concentrate on his job.

You can jog on if you think id live in relative poverty (to what im used to) while he swanned off with assets!

You should get 50 percent of marital assets but not a penny of inheritance or pre marital assets.

In the UK this loophole has been closed as it's a clear inheritance tax dodge. The new owner has to charge their parents a market rent and pay tax on it.

It's not inheritance. His parents arent dead.

And id be going for more than 50% (if thats possible...i dont know anything about divorce) because of my lower earning power after years as a SAHM. That was a joint decision that benefitted him and our children financially and would disdavnatage me in the case of divorce. Seeing as i went into the marriage for life, this disadvantage would not have become apparent or problematic except for his affair. Thats why id go for the maximum i could.

Yes but the Dad has done it to reduce inheritance tax when he does die. No other reason.

It's economically equivalent to inheritance. But yeah logical or economic thinking not something you are that good at probably

@spare123 yes i realise this. Thats their lookout then

@Randomperson99 ah of course, they are super smart with their economic thinking and im too stupid to see it. Fingers crossed for them that its not classed as a marital asset. Its a good job im not their DIL or their smart economic moves would have them out on the street.

Economically she clearly has no claim my issue is exactly that the law in England is so ridiculous and the poor parents were not aware.
Probably also didn't expect that woman to be that grabby in the worst case.

Would you leverage a cash inheritance to get more? A future one?

the only reason you’re not getting told you’re out of order is that on here a woman’s inheritance is hers and a man’s is shared.

You’re looking to leverage an inheritance in order to get more assets. You should leave it alone.

Well done (if you’re a women)

that’s appalling (if you’re a man)

It is tricky as inheritance if received during marriage is shared i think. In this case though the husband has basically been given his inheritance early, but yet he hasn't as the parents still live there and are alive and have needs.

Some cheating spouses are willing to be more generous and might give 60 40 or 70 30 in wife's favour easily due to a guilty conscience. Hopefully that is the case here and life can go on without causing major upset to inlaws who may already be very upset the marriage is over. Yes kids have needs but so too do grandparents and elderly people.