Needing advice please
I’ve recently separated with my husband, ( he is now seeing someone) I’m wanting to move out , he doesn’t want too , nor does he want to sell our home. We own it. We both work full time have 2 kids , 18 & 15. I have no savings to move out but don’t want to be where I am. What advice or rights do I have. I’m wanting an amicable solution.
Thanks in advance.
3 Replies
If he doesn't want to leave he needs to pay you out your half. He won't have a choice. See a lawyer to get the ball rolling.
First, separate your finances. Have your own account, and if you're both still in the house, start splitting tbe bills. If phone plans etc are together, get them separated.
So it takes a year of separation before divorce can happen, and then another year before the property settlement HAS to be done.
The first step for property settlement is mediation. If an agreement can be reached in mediation, that just gets stamped by the court and is binding.
If he doens't want to sell or move out, then you'll need to reach an agreement % wise of the house value, and he'll need to remortgage the house in his own name and pay you out your $ value. But he doesn't HAVE to get this done until the 2 years is up.
If lawyers / courts get involved, then they get a list of assets and debts at the time of settlement, NOT at the time of separation!!!!! And they divide that.
So if one of you goes running up cradit card debt, it's 50/50 debt; and if you move out and buy your own house, that's a 50/50 asset. So be very careful.
You said you had talked about him not wanting to sell, can you speak about it further? To me it’s obvious that if he doesn’t want to sell he will have to pay you at least half, or in the meantime half of what the rent would be on your investment. Maybe start with a couple of realestate agents for a valuation for sale/or for rent. Personally I wouldn’t go anywhere until there’s a plan in action. Good luck!