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Mortgage property- repaid whilst married

2 replies

WonderingOneOfAll · 30/01/2025 19:31

Quick question: is property repaid during marriage. (mortgage property) Considered a joint ?
It was bought before marriage but still being repaid -15 years after marriage.
mid it joint or not?
Are the repayments being treated as joint?

OP posts:
PokerFriedDips · 31/01/2025 03:48

In general all assets will be considered joint if you have been married 15 years. The default assumption is that all finances are shared within a marriage because the fundamental point of the legal instrument of marriage is to join two people as one unit financially. Have you spent 15 years being technically married but not actually sharing your finances in common with full equality between you?

When a marriage is very short eg less than a year it is usually possible to extricate each partner with the assets that they brought to the marriage more or less in tact rather than splitting equally but that wouldn't be done after 15 years. On the 15 year timescale any deviation from 50:50 would be on the basis of prioritising the wellbeing of any children of the marriage. If no children then 50:50 will hold.

WonderingOneOfAll · 31/01/2025 18:25

From day 1 (and present ) we have individual bank accounts , but after couple of years marriage we have joint account .
Not sure what it means: “not actually sharing your finances in common with full equality between you” ?

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