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Read our latest Financial Settlements guide (2021)

What are we each entitled to in our divorce settlement?

What does the law say about how to split the house, how to share pensions and other assets, and how much maintenance is payable.

What steps can we take to reach a fair agreement?

The four basic steps to reaching an agreement on divorce finances are: disclosure, getting advice, negotiating and implementing a Consent Order.

What is a Consent Order and why do we need one?

A Consent Order is a legally binding document that finalises a divorcing couple's agreement on property, pensions and other assets.

Offers

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notgettinganywherefast
Posted by
Elite Member

02 Feb 22 #518756 by notgettinganywherefast

Topic started by notgettinganywherefast

If one spouse left the FMH 6 years ago and has made no contributions since (also incurred no housing costs of their own in that time), is it acceptable to base a financial offer on the value of the FMH at separation rather than it's current value? The party who left it does not own the FMH.

.Charles
Platinum Member

02 Feb 22 #518757 by .Charles

Reply from .Charles

If you accept that your spouse has a financial interest in the bricks and mortar why would that interest be frozen at a value 6 years ago? Their ownership didn't end so their financial investment will have increased.

Looking at it another way, if property prices had decreased would you now be looking to pay out at a higher level than the property is now worth?

You may still be able to claim for the monies you have paid in the upkeep of your spouse's share and any reduction in the mortgage capital. However you may have to offset this with occupational rent as you have lived in the space that was no longer occupied by your spouse.

Charles

notgettinganywherefast
Posted by
Elite Member

02 Feb 22 #518758 by notgettinganywherefast

Reply from notgettinganywherefast

Thanks Charles, all makes sense.

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