Very confused. Divorcing and staying in house what happens when have to sell

[Kazanova]

I am staying in the marital home with the kids in a divorce and when the kids are 18 or finished full education I have to sell the home. When i went to court it was a 50/50 split. Is the 50/50 split on the value of todays valuation or at the price it is when kids are 18 years old. I have spoke to two different solicitors and one says based on todays value and the other says on what its worth when kids 18? confused!

If it's a percentage share it should be the value when the house sells. Otherwise it would be fixed sum but that's very rare.

Many thanks. I could not make sense, one was telling one thing and the other different. SO why did they all make such a big fuss about what the house was worth. I had valued and he thought more, which it was not. Thats why i was confused.

Are you both paying the mortgage until the DC are 18? If it is only you paying it, I can't see why the x would get half the value at sale when DC are 18.

Isn't it written clearly in your divorce papers? If it isn't, might be a food idea to have it clarified in the papers before they are signed

Good point Notness, and if he is to get 50% of the final value and is paying 50% of the mortgage, he should also be paying 50% of any maintenance and improvements to the house as they will affect the final resale value.

If you are paying to have the windows painted, boiler replaced or roof tiles replaced etc. these are legitimate costs to keep the house in good condition and would potentially reduce the selling price if you didn't, so surely he needs to be contributing?

If you are paying the mortgage yourself then it would be reasonable for him to take 50% at today's value (even if it is linked to inflation) but not to then get 50% after you have paid another 10+ years off the mortgage.

You need to speak to the solicitor who dealt with your divorce. There could be a number of interpretations and this should be answered by reading the divorce settlement.

If you are both still paying the mortgage the split, in fairness, should be 50% of the free sale proceeds at the time after paying mortgage and solicitors and estate agents and then an allowance given for maintenance, repair and improvement , if any paid exclusively by you (or indeed to him if he paid for these item)

If only you are paying the mortgage the fair split would be as above but an allowance for repairs etc and mortgage payments made solely by you.

However your settlement might say something completely different.

This is far too important for random questions to random strangers who don't have the facts. You need this to be clarified by your own solicitor.

If either of the options which I have suggested apply you need to keep records of expenditure.

If the agreement was actually he gets 50% of the value at today's valuation you won't need records of expenditure but you'd better hope the value of the house doesn't go down.

Hi There is no mortgage. Where we moved too was alot cheaper than where we lived before, infact half price. Kids love it here. I have two kids and a dog. No job. But have always worked since 16. And intend to find job as very bored. I am not a slacker. maintenance on house is split costs, however he did not pay me child maintenance for 6 months but now have that in hand. I am not a greedy woman only looking out for the kids but when you have kids you both take responsibility for them and that not something he has done for 8 years. He has not been in touch with the kids for 10 months.

You need to clarify this with your own solicitor.

We have no mortgage on property. I am paying for all the maintenance and child costs that are extras outside the child maintenance. Is it because I have no mortgage

You have to speak to your own solicitor. Your case is far too specific for anyone on here to advise you.