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Divorce, house in negative equity

  • jen 19999
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06 Jul 09 #129126 by jen 19999
Topic started by jen 19999
Hi there

I have been married since 2006 and in Aug 08 and i bought a house for my husband and I to move into. Due to various debts that my husband had I put the mortgage in my name. Less than 4 months after buying the house we split up and he left the marital home. i have been renting it out ever since. We have decided to get divorce.

On the date of separtation (the relevant date) the home was worth the same value as it had been purchased for however now it is in negative equity to the tune of £60,000. My husband just wants to walk away from this negative equity and make a Clean Break however this means that i will be £60,000 worse off. Does the fact that the house was valued at the purchase price at the relevant date mean he can just walk away or could a court order a more up to date valuation and order him to pay half the negative equity to me? Alternatively can the court order a transfer of property to him and allow me to pay him half of the neg equity. We live in Scotland.

  • smalik
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07 Jul 09 #129316 by smalik
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Does he have any assets, if not then not sure how he will pay towards the negative equity.

By going to court you will only be adding to your debts, either by borrowing money to go to court or by legal aid, which is added to your property.

Best that you discuss and try and agree something and dont make any more solictors rich.

good luck

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