Confused, buying someone out?

Ashlinggnilsia

Ok I'm not sure if this is the right place but I have been asked by a friend to try and help her out by getting some answers, from what I gather the situation is that herself and the husband are getting divorced, he wants to sell the house, she wants to stay in the house with the three children. The bank won't give her a mortgage to buy the house, she also mentioned that he had left her in debt, is there anyway she can try and stay in the house, she would like to buy it but the bank won't give her a mortgage for it. Is there any other options anybody knows about??? The only work she does in cleaning houses and I am not sure if that money is declared to the tax people as she doesn't make alot. i.e. less that minimum wage!

All info greatly appreciated. Thanks!

D3PO

Really you need to get her to talk to her solicitor nobody on here can give you advise that you can go by as its going to require full disclosure of all the details and a legal background.

The only point I will make is that she will be entitled to both maintenance & also any assets that exist (althoguh you mentioned the husband is in debt so there may not be any) with be divided in the appropriate manner again down to the laywers to sort out how these are divided.

Maybe if your friend can get clarity on how this will work income from maintenance, detial on what assets she will have etc she will be in a bette rposition to know where she stands. I wouldnt hold out hope of hanging onto the hosue though if theres a mortgage on it.

Ashlinggnilsia

Sorry I must clarify, I am not looking for that sort of information, like she had been told about the shared ownership scheme so I rang them up today but from what I gather that wouldn't work out, I was wondering is there any schemes similar, cos it seems silly to me that they won't do that because if the house has to be sold to cover his debt then they are just going to end up looking for a house from the council anyway and be getting rent allowance etc. Which seems silly to me! I was just wondering is there any other schemes that one could avail of where they anything like this would be possible. He has other assets but has hid them from the solicitors etc, transferred businesses into mistresses name etc saying she paid for them but based on her icome and situation there is no way she could afford to pay for a business. Its a big mess tbh and I just bumped into her yesterday and she asked me if I knew of any such schemes, etc and I just want to try and help her if I can!

The_Conductor

He is obliged to provide accommodation and subsistence for his children (not his wife) up to the age of 18. The fact that the property is in negative equity is wholly irrelevant- it only enters the equation if/when the property is being sold.
Your friend needs to ensure her own financial affairs are above board, and to contact a reputable family law solicitor who can advise as to her rights and the rights of her children.

Ashlinggnilsia

so he cannot sell the house until the children are 18?

The_Conductor

Ashlinggnilsia wrote: »

so he cannot sell the house until the children are 18?

The bank could force a sale if the mortgage wasn't paid- if that answers your question- and if it was in negative equity- legally they could register a judgement against her........

She needs to talk to a family law solicitor immediately- random advice from the internet is really not going to cut it for her.......

D3PO

Ashlinggnilsia wrote: »

so he cannot sell the house until the children are 18?

No hes obliged to provide accomadation for them. Id be carefull in how you play that card though as this could trigger a custody battle for the children to stay with him.

Really a family law lawyer is needed to consult with

Ashlinggnilsia

ok thats great!! Ha ha ha don't make me laugh, there will be no custody battle! Even when they were married he just threw money at them instead of speading time with them. I have an idea of a really good solicitor who I plan to recommend but I know she already has a different solicitor so we shall see, I plan to call to her house later as I don't really think its a convo for the phone. You see the difficulty is that she is not from Ireland their three children are irish they have been living here over 20 years but she still struggles a bit with written words you know the sort of letters you get from solicitors she wouldn't fully understand them, and I just think she doesn't really know what to do. But I will call later and hopefully everything will get sorted! Thanks for all yer help!

D3PO

best of luck to your friend. I hope it all works out for her