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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.

Equity payment in full?

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Bailey80X
Posted by
New Member

07 Jan 25 #524846 by Bailey80X

Topic started by Bailey80X

Hi all,

Me and my wife are going through sepertaion, we have two kids and a mortgage.
I'm hoping to keep solictors out of it as much as possible due to cost and trying to keep it ampicable betwen us!

We have agreed that i keep the property and i will purchase her 50% of the equity under the idea that she would be using her money to purchase the property.

My concern is now she may not be purchasing a property and moving in with her new partner and i will be living alone.

my question are-

Do i have to pay her all of the equity at once?

If she moves in with someone else is 50% payment fair if she moves in with someone?

Thanks

hadenoughnow
Moderator

07 Jan 25 #524849 by hadenoughnow

Reply from hadenoughnow

What she does with her share of the equity is entirely up to her. What I wouldn't do is part with any cash without having a legally binding Consent Order in place. Without one she could end up spending it then seek a further settlement in future.

Hadenoughnow

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Moderators: wikivorce team, rubytuesday, dukey, hadenoughnow, Tets, Shezi, Linda Sheridan, Forseti, Mitchum, WhiteRose, Lostboy67, WYSPECIAL, Bubblegum11

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