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50/50 split or 60/40? or 70/30???

  • uttermuppet
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24 Jan 17 #487890 by uttermuppet
Topic started by uttermuppet
I'm the respondent a divorce petition. I've agreed to the grounds of divorce and we've now sold the marital home. I didn't seek any legal representation as I believed it wold all be fairly straight forward.

We've been married for 5 years and 11 months. There was around 35k in equity in the property. We both agreed to have various debts paid off from the house sale for a Clean Break seperation. We now have around 29k left to split. My ex wife was a student nurse for 3+ years so i paid the mortgage and all the bills, before that the mortgage and some of the bills.

We have a 5 year old daughter between us and share joint custody. I have her between 2-4 nights a week.

My ex wife is now a fully qualified nurse with a pension, I am a landscape gardener on considerably less with only a basic pension scheme starting this year.

The money is currently sat with my wife's solicitor. My wife won't agree on how much money I should get. I've suggested a 60/40 split in her favor however shes adamant to leave me with only around 4-5k from the proceeds of the house sale.
Is it worth getting a solicitor involved or allow the matter to court to let them decide how the money is split.

I currently pay over the recommended amount for child maintenance.

Any advice would be greatly appreciated.

  • LittleMrMike
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24 Jan 17 #487892 by LittleMrMike
Reply from LittleMrMike
Unfortunately, it's hard to advise. The Court's objective is to make sure that both of you have somewhere to live.

That is not an easy question to answer because we don't know housing conditions in your area.

She's asking for something like 85% of the proceeds. Our experience on wiki suggests that she is unlikely to get that much.

The issue is whether you could re-house yourself with such a
share.It isn't exactly equality.

Could you use your share put down as a deposit on a house for yourself ?

I suppose it would be enough for a rental deposit and to buy essential furniture, But not a lot more.

Our experience on wiki suggests she might get between 60 and 75%, but I'd be at pains to stress that you'd probably need to show that, with her share of the proceeds, she could find a suitable residence. So you need to do some research into the local housing market.

LMM

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