Ok so I'm sorry if this is all over the place.
I've just been given a letter from the lawyers stating my ex husband (not yet divorced) is asking for property settlement.
A little back story we married in 2012 and bought a house in march of 2021 and separated in September of 2021 due to a disgusting crime on our daughter (it's still going to court).
Since September of 2021 he has not made any payment towards the house, rates or maintaining of the property only I have.
Myself and 3 children (2 of his) still live in property.
Now in September when we separated we had only been in house for under 6months owed the bank $331341 and now it's $325526.
The house is valued around $400000
My question is how does it all work?
How much would he be entitled to considering I have the children and I've made all payments since he left.
I've worked out there is about $75000 equilty.
I'm currently waiting for legal advice but thought I'd ask on here as I'm so stressed atm.
2 Replies
It won't matter who has been paying but you having the kids might make things go more in your favour.
They're asking for settlement. They haven't put a figure forward yet. Go in hard and fast. Tell him you want the family PPR. You take all debt and all equity. You don't have much equity. That $75K will be crushed by lawyer fees before the house is even sold. He gets the bonus of walking away unencumbered. If he doesn't accept that, have a spreadsheet ready with all the $ you spent on the house (including yard maintenance, etc at commercial rates - even if you did it yourself) that he needs to find 50% of prior to any negotiation on the asset itself. Do up a 2nd spreadsheet of all the kids expenses - food, clothing, activities, etc. That he is liable 50% for on an ongoing basis. Knowledge is power. Get your facts organised and don't accept less than you are worth. Think of it like you died tomorrow - he'd have to pay for all these services plus $80K pa for a nanny/housekeeper. He's no longer your family - he's a colleague in raising children - you don't have to like him or even respect him. Just work with him and charge him every cent you are worth. And you are priceless.
Best of luck. And thank you for caring for his children as well as your shared child. Those kids are very lucky to have such an amazing mumma in their corner.