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How soon can an asset split be forced?

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clyptic
Posted by
New Member

29 Jun 18 #502524 by clyptic

Topic started by clyptic

Does anyone know how soon a spouse can start forcing a sharing of assets and sale of house after leaving the marital home? - no young children involved.

Thanks

hadenoughnow
Moderator

30 Jun 18 #502528 by hadenoughnow

Reply from hadenoughnow

Only a court can force sale and division of assets. You can only have a legally binding financial settlement when you have a Decree Nisi in place. If you cannot agree a financial settlement and end up in the court process, orders for sale may be made during the court process if sale is inevitable

You can have a Separation Agreement if you plan to wait to divorce. This needs to be properly drawn up and involve financial disclosure for it to carry any weight but it isn't legally binding.

If the house is in one party's name, the other can register matrimonial home rights. This will prevent sale until there is a legally binding financial settlement/Decree Absolute.

If one party remains in the property, it is usual for them to pay all the costs of living there including the mortgage.

Hadenoughnow

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