Advice Required

separation

Hi.

I'm new to this so please bare with me. My wife and I are in talks at the moment to separate. She has no interest in counciling or mediation as she maintains we are past the point of no return. I can accept this but I really need to know my responsibilites when we do separate.

My wife owns 2 properties which she purchased before we ever met.
Both are in her name alone and I'm not named anywhere concerning them.
These properties are rented out and we both pay into a joint account which covers the shortfall in mortgage payments (this money is then withdrawn and put in my wife's mortgage account), life insurance, property maintenance charges etc. The tax bill for rental income is in her name but I transfer money to her account to pay. Same with property taxes etc.

In addition to these properties, at the moment we are renting a house and both contribute equally to the rent, bills etc.

I would expect to pay maintenance for my Son's upbringing etc and part of the rent etc, but am I liable to pay towards the continued keeping of the mentioned properties?

I want everything to be a smooth transition when we part and she has been very receptive to my continued involvement with our son's upbringing but in order for me to move out and get another place, I cannot see how I can do this if I still have to contribute equally for the other mortgages and charges. They are her's and she has no intention of splitting the proceeds if they were ever sold as she sees them as an investment she made prior to us having a life together.
This is why I would find it hard to continue being financially involved with them after the split.

I know this is very long winded but I was just hoping to get some advice.

Thanks

Abi

separation wrote: »

Hi.

I'm new to this so please bare with me. My wife and I are in talks at the moment to separate. She has no interest in counciling or mediation as she maintains we are past the point of no return. I can accept this but I really need to know my responsibilites when we do separate.

My wife owns 2 properties which she purchased before we ever met.
Both are in her name alone and I'm not named anywhere concerning them.
These properties are rented out and we both pay into a joint account which covers the shortfall in mortgage payments (this money is then withdrawn and put in my wife's mortgage account), life insurance, property maintenance charges etc. The tax bill for rental income is in her name but I transfer money to her account to pay. Same with property taxes etc.

In addition to these properties, at the moment we are renting a house and both contribute equally to the rent, bills etc.

I would expect to pay maintenance for my Son's upbringing etc and part of the rent etc, but am I liable to pay towards the continued keeping of the mentioned properties?

I want everything to be a smooth transition when we part and she has been very receptive to my continued involvement with our son's upbringing but in order for me to move out and get another place, I cannot see how I can do this if I still have to contribute equally for the other mortgages and charges. They are her's and she has no intention of splitting the proceeds if they were ever sold as she sees them as an investment she made prior to us having a life together.
This is why I would find it hard to continue being financially involved with them after the split.

I know this is very long winded but I was just hoping to get some advice.

Thanks

I don't think anyone here would be able to predict the outcome of this for you, you're better off going to a solicitor and they will be able to give you an overview of what to expect.

On a side note, your ex has the wrong end of the stick. Counselling and mediation are not there just to help couples stay together. She needs to understand that mediation will help both of you decide what happens with the financial side of things between you and as fairly as possible. If you can't agree together then you're going to have solicitors fighting your corners and will cost you both a lot of money. If there are children involved then counselling is a good idea. Splitting up is tough for couples, but it can be even tougher on children if there is bitterness involved.

It's a good idea if you can work together across the board, for the sake of any children involved, and your own sanity.

LostPassword

separation wrote: »

My wife owns 2 properties which she purchased before we ever met.
Both are in her name alone and I'm not named anywhere concerning them.
These properties are rented out and we both pay into a joint account which covers the shortfall in mortgage payments (this money is then withdrawn and put in my wife's mortgage account), life insurance, property maintenance charges etc. The tax bill for rental income is in her name but I transfer money to her account to pay. Same with property taxes etc.

Obviously, this is not legal advice, but a general principle of fairness is that your contributions to the mortgage of the properties should be reflected in terms of an equity position. The money that you have contributed to these properties should translate into you having a percentage of the ownership of the properties and you should assert this in your dealings with your (ex) wife. If you are to continue to make mortgage payments on these properties you should have a clear, written agreement as to how these payments will translate into equity. You would be advised to try to negotiate an equitable agreement according to the principle that your equity in these properties should reflect the percentage of the shortfall that you paid over the years relative to what your wife paid and you should try to negotiate this in principle without involving solicitors initially.

The idea that you might be compelled to continue to make such payments without them translating into any equity is absurd to me and indicates to me that you are in serious need of asserting your own interests.