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History: Home UK Divorce Forum
Topic:
Advise. (4 Posts)
Started By:
Date:
04 January, 2018 04:57PM
Advise.
cosecdivorce - 04 January, 2018 04:57PM
Really hoping for an advise from this valuable forum..

I have been married for 4 years and few months now and no children / dependent .

Due to him moving out of the country and cannot hope with him my future, and various other issues,
i am thinking of divorce as i cannot / dont want to move out of the country.

My Questions are
we bought a house jointly, and been living there since then.

1.what is the share of the house after selling it ? Is it 50/50 ? as i financially contributed more money than him when buying house.
Both of us equally, most of the time, pay the mortgage / expenses etc...

2. I have another house which i bought 5 years before my marriage and would that effect in anyway ? or
Under any circumstances ? I am the legal owner.

3. Any advise on of any worst cases if i initiate the divorce process ? ie : should i wait for him to
start the process OR Can i initiate it ? rather waiting for it.

Thank you.
Re: Advise.
davidterry - 04 January, 2018 06:32PM
>>1.what is the share of the house after selling it ? Is it 50/50 ? as i financially contributed more money than him when buying house.
Both of us equally, most of the time, pay the mortgage / expenses etc...

How it is divided will depend upon a range of factors one of which will be how much you have each contributed (although that is not necessarily the most important factor).

>>2. I have another house which i bought 5 years before my marriage and would that effect in anyway ? or
Under any circumstances ? I am the legal owner.

It could have an effect, yes. That is because it may well affect your needs as opposed to his. The house is an asset you have which affects your needs. Typically needs are the most important thing to consider when it comes to working out how assets should be divided.

>>3. Any advise on of any worst cases if i initiate the divorce process ? ie : should i wait for him to
start the process OR Can i initiate it ? rather waiting for it.

What is the benefit of waiting for him or letting him (eventually) issue divorce proceedings? On these facts you seem to be the one who is likely to be prejudiced by delay in that you are presumably paying the outgoings on the jointly owned property and you have another property which may go up in value over time. This tends to suggest it is in your interest to issue a divorce petition and to do it as soon as you reasonably can. It is hard to see what the gain to you would be by delay. The reverse is probably true.
Re: Advise.
cosecdivorce - 04 January, 2018 07:06PM
Thank you Davidterry for the reply.

One more Question is that I do work as a Contractor through a Ltd company and the only director. will it give any chance / possibilities for him to claim any amount from my limited company of my profit etc.. ?

Thank you very much again for your valuable advise.
Re: Advise.
davidterry - 05 January, 2018 11:45AM
That depends upon the figures. The fact is that the company is owned and totally controlled by you so what it pays out and what it retains is something within your control. If, say, the company earned £100,000 a year, you decided to pay yourself £5,000 a year and the company retained £95,000 that would, in effect, be money which was accessible to you and therefore a marital asset like any other. On the other hand, if the company makes £30,000 a year and it pays out £30,000 a year to you in salary and/or dividends then you are not using the company as a piggy bank. The figures matter.
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