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divorce settlement advice

7 replies

helenepurple · 29/11/2007 12:31

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OP posts:
helenepurple · 29/11/2007 12:48

please help
dh has driven me round the bend now getting us so into debt. I want a divorce and want to know likely settlement. Also need recommendations of good lawyer to see in Central or north london or london generally.

We have complicated finances
2 sons of 4 and 6
married 7 yrs, together 10
I gave up work to look after kids and run dh's property business.
DH business has proffits of £5k pa
I am taking accountancy exams and plan to start on £25k in 2009.
Home worth 1.2m, mortgage 550k
dh is 62 with little earning prospects and track record of running up debts he can't pay
i am 37

taking total equity in home and property business after CGT
total equity is 1.6m
0.55 in my name
1.05 in his name

I desperately want to keep the family home but its worth 1.2m with 550k mortgage. I could only afford a £250k mortgage max (if I had lodgers. Do I stand a chance. Could they force dh to leave some equity in our home that he only gets when kids turn 18.
Desperately want to stay for school and so we can be close to dad after divorce.

OUR PROBLEMS
recently dh went behind my back and borrowed 25K on the home mortgage after I said no to this. He also got a 20K loan recently and has asked me to sign and underwrite a 30K overdraft on his business account. Had to sign papers yesterday to take payment holiday (cost of £3k per month) from mortgage as he said he would default if i did not. also he's building up cc debt. He's trying to put some of property into joint name with kids by 1st marriage, buying an old typewriter to make it look like old document.
He's been very difficult person, contributing nothing in terms of money, or housework, or looking after kids or even diy. Just dedicating himself to 'his' social life that doesn't include me and lots of 'trips' abroad. Full of criticism for me. Family say divorce him and most people inc ex-wife and adult kids dispair of him. Financial problems have brought this to a head because i'm worried we will loose our home because of his spending.
Hes the type of person who could keep an army of servants busy and still find things to criticise them for.
I've had cervical cancer scare (pre cancer all under control) and feel he's getting me down.

Cash flow problems mean its difficult to go and get advice from several lawyers (quoting me £500 for meeting and letter).
any advice
really really appreciated

OP posts:
LilyLoo · 29/11/2007 21:37

Helen sorry can't advise a lawyer but my dp maybe able to help with mortgage side of things here
That may be a start so at least you know where you stand with the finance side of things.

Qally · 30/11/2007 11:44

There are a few quick points I can make (disclaimer: I'm not a lawyer, but I do have a law degree.)

The debt against the family home is not valid if one spouse didn't actively consent - there is established case law on that issue. It's a legal no-brainer that banks and building societies should check out the existence and/or consent of any spouse before issuing a loan. (I seem to recall that that's the case whether or not the spouse is a named owner, because an assumed trust is deemed to exist on a family home.)

BUT - this doesn't apply to a house sale. If you are not registered as an owner of your property, you need to lodge a Class F Land Charge with the Land Registry. This warns anyone thinking of buying the house that they can't without your say-so. Without that info being held by the Land Registry your husband could sell the house without you being able to stop him, and then you'd be fighting over the profits, rather than residence.

You probably don't want to be stressing your salary prospects. In a divorce, the priority is the children, followed by the weaker party. You'd probably get to keep the house at least until the kids are adult, if it's 4 bed or smaller, and if you emphasise the need to be a SAHM until the kids are at secondary school you will possibly get a better settlement on that basis.

Good lawyers are vital. You don't necessarily get the best from the most expensive though - you need one who is committed to helping you. Mediation can be great but it can also involve lawyers who aren't tough enough when they need to be, which is the flipside of pointlessly aggressive. Still,

www.resolution.org.uk

  • because the most expensive divorces mean lawyers bills can match assets. If you can do this with as little bloodshed as possible, the kids and your finances will obviously benefit.

Finally, I'm so incredibly sorry. This must be hell.

Qally · 30/11/2007 11:59

I'm new to Mumsnet, and reading down threads have seen there are several actual family lawyers here, who'll be able to offer much better/more detailed advice! Sorry, I wasn't aware of that (this place is HUGE, isn't it?) so I'll just say once more how sorry I am that this is your situation. I hope things start to get better soon.

helenepurple · 01/12/2007 00:26

thanks for the advice. things have been bad, but i strangely I feel more positive about everything since deciding on the divorce. Also I didn't ever imagine i would stand a chance of keeping the house, so that is really encourageing. The house is big - 5 bedrooms.
Good advice re job, I suppose I can show that I am taking steps to go back to work part-time at some point, but not give the impression i'm about to turn into a high-flying exec.
I am going to see a young family lawyer on monday - not experienced but a good friend of a friend, so she will not rip me off and be committed to helping, she's in a larger practice and so can get someone more experienced involved.
I am so looking forward to getting divorced but dreading telling my husband. However the sooner the better I suppose.
just been to a birthday party with people my own age and it makes me realise what an issue the age difference really is.
re ownership, I am joint owner of our home and two other properties. the other four are in my husbands name. I am not sure if I can write to the land reg about them.
i hope we can sort it out re mediation, but I just know my husband will be madened by the idea of me getting the house or any of 'his' money. Im not looking for any maintenance, just to stay in the house until boys turn 18 - not really unreasonable

OP posts:
justme27 · 09/12/2007 22:01

Hiya

I'm a family lawyer - would need to have a chat to get some other details but quick advice on what you have said so far....

Actually, just seen that you are seeing someone. Let me know if you still need advice.

Hope you feel better about things and hope you manae to sort things out one way or another. Stay strong L-)

iheartdusty · 10/12/2007 19:30

yes you can ask the land reg to put a land charge on property in your husband's name, on the basis it is a matrimonial asset, and to protect your rights of occupation in the matrimonial home

see land registry

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