hi all, I have so many questions and this is a mine field.
my husband and I had an agreement drawn up 6 years ago, to the effect that the house would be transfered in my name, and he would keep his pension, this was all amiciable at the time.
I have had problems with getting the mortgage transferred as am on a low income, and cant work more hours due to back problems, but I have at last got someone to lend me the money to take over the mortgage. the transfer papers are due to be sent to my husband very soon, and out of courtisy I advised him they were on the way.
He is now going back on the agreement, there is alot of equity in the house, and he wants 10 percent. this will cripple me financially, I have two kids still living at home, and the outcome will be, I will have to sell and buy a 2 bedroom with the same mortgage I have now, or use the money I get as rent, and therefore spend the money instead of leaving it to the kids when I die.
My solicitor has told me to go for mediation, but Im petrified Im going to lose my home.
In the time we have seperated he has a mortgage on another house, his own business and of course his pension. he is saying he is on the verge of going bankrupt, but I know he has money in the kids names.
he has cancelled his life insurance and has made no provions for maintence in the event he dies. am at a loss on what rights I have, hope someone can help
A lot will depend on the agreement which you had 6 years ago. Was this done with full disclosure, both of you having legal advice etc?
Did the agreement set a timescale within which the transfer would be completed?
HAs your ex given any reason as to why he is now contesting it?
If he has been adversly affected by the delay in getting his name off the house & mortgage he may be able to argue that this should be taken into account - however, if this is not the case, and assuming that your agreement was formally drawn up and that you both had proper advice, there is a good propect that the court will hold you both to it.
I'm guessing that your solicitor has suggested mediation in an effort to come to agreement rather than having to go to court - if you are not comfortable with mediation, you could ask your solcitor instead to set up a round table meeting (so s/he is there to support and advise you when you try to discuss the issues with your ex).
we both had legal advice, there is nothing mentioned at all, that he wanted 10 percent. In fact I have a letter off his solicitor to say it should be transferred in my name, but it has without prejudice on it, which Im guessing cant be used in court.
we didnt have full disclosure, but the equity in the house then was not as much as it is now, and at the time it counterbalanced his pension.
the transfer was started 5 years ago, but there was block put on it from him, as he had a mod loan on it, which couldnt be paid until he left the army, then I injured my back.
the mortgage payments he is paying is instead of child maintenance, so I cant see how he would be affected by the fact it has took so long to go through.
my husband has said he wants 10 percent now because, in december i told him I had got a mortgage, and now in february he says hes not been paid for 3 months.
Im not sure how mediation is going to work, he lives 300 miles away.
obviously now we will have to do full disclosure, will it only be the last 12 months, or can they make him declare everything in the last 6 years?
If Im made to give him 10 percent, can I go for 10 percent of his earnings in the last 6 years?
am confused over what I am entitled to, havent hadmuch advice off the solicitor, have to apply for legal aid. basically as we are still legally married, do the court take into account assests before the seperation or throughout the marriage?
therefore any extra value in the home is not included?
sorry for my ramblings, head is a mess.
Do you need help sorting out a fair financial settlement?
Our consultant service offers expert advice and support to help you reach agreement on a fair financial settlement quickly, and for less than a quarter of the cost of using a traditional high street solicitor.