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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.

If he wants to keep assets?

28 replies

Whatwillbe2025 · 14/08/2024 10:55

assets are equity in house, savings, watch, car (paid off) and sports memorabilia collection.

if the total of the sports memorabilia, watch and car comes to for example £25K and ex h wants to keep them rather than liquidate them, would he have to give me £25K out of his split of the other assets (Equity and savings)

OP posts:
Hectorscalling · 14/08/2024 18:08

Sleephound · 14/08/2024 18:05

The £5k he will "pay" her also comes out of the joint pot.

No you have misunderstood.

I am using the car as an example.

in your example above, you used a pot of 100k and got 50k each. I used a pot of 10k, 5k each.

Whatwillbe2025 · 14/08/2024 18:11

AllThePotatoesAreSinging · 14/08/2024 17:53

So each of you has 50-50 split.

full list of assets
equity £130,000 (65k each)
savings £52,000 (26k each)

Total share each - £91k

he wants to keep (with the value of each of your half share shown in brackets)

watch £3,000 (1.5k each)
car £10,000 (5k each)
sports collection £30,000 (15k each)

He needs to give you HALF the value of the items he wants to keep as he owns half and you own half. He doesn’t give you the full value as you own half each. He just needs to buy out your half. Your half of the value of the items above is £21.5k.

That means his share of the split will be
91k - 21.5 k (He needs to give you 21.5k from his share to buy out your half ownership of the items he wants to keep) so he gets 69.5k.

You get 21.5k + 91k, so your share is 112.5k

Edited

This makes it really clear and i understand now! Thank you so so much!!

OP posts:
millymollymoomoo · 14/08/2024 18:36

How have you determined the split to be 50:50?

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