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Separation agreements and property downturn

  • 28-01-2010 12:41pm
    #1
    poker_pro
    Registered Users, Registered Users 2 Posts: 10 ✭


    Hi all,

    I'm wondering if anyone else is in the same situation as me. I separated about 3 years ago and made a separation agreement then in which I got the house and she got a nice lump sum. Our only real net value as a couple was in the value of the house over the value of the mortgage. That net value has basically been wiped out in the last 18 months. Has anyone tried to get the separation agreement reversed on divorce? Is going down this road a runner?

    thanks.


Comments

  • #2
    partyguinness
    Registered Users, Registered Users 2 Posts: 8,203 ✭✭✭partyguinness


    Not sure what you want to achieve by reversing the Seperation Agreement...has it a driving license?...sorry....

    If you go down the route of applying for a divorce you can certainly seek to alter what was in the SAin the sense that it is whole new arrangement....in theory..but it it would be quiet difficult in reality. Really depands on what you want changed and I feel I would only be done on Consent.

    You dont have to get a Divorce. A SA is an agreement between 2 parties. It can be altered subseqeuntly if both parties are in agreement. That may be a route to explore.

    What do you want? To get your money back?

    More details as to what you want to achieve would be helpful.


  • #3
    dermot_sheehan
    Closed Accounts Posts: 2,062 ✭✭✭dermot_sheehan


    The court can vary the separation agreement in theory to ensure proper provision for both spouses.

    But it was however an agreement entered into by adults with legal advice, and by taking the house you took on the risk of a downturn in the property market (just as she took the risk that inflation in the property market or inflation in general could wipe out the real value of her lump sum).

    A court would be reluctant to overturn such an agreement.


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