Assets and debts in separation

aine kilbride

Family home value e400,000 Separation so

Spouse A (Husband and sole earner) e200,000
Spouse B (Wife and homemaker) e200,000

But what if Spouse A has e300,000 debt? Does he get the e200,000, Pays debt off but now owe e100,000. Spouse B gets e200,000 and keeps it.

Assests are shared but debt is not. Is that correct?

Or should it be. Value of house e400,000. Debt e300,000. Split assets
Spouse A e50,000
Spouse B e50,000

I appreciate feedback. Such dark and terrible time I am facing. I need strength.

JimmyMW

aine kilbride wrote: »

Family home value e400,000 Separation so

Spouse A (Husband and sole earner) e200,000
Spouse B (Wife and homemaker) e200,000

But what if Spouse A has e300,000 debt? Does he get the e200,000, Pays debt off but now owe e100,000. Spouse B gets e200,000 and keeps it.

Assests are shared but debt is not. Is that correct?

Or should it be. Value of house e400,000. Debt e300,000. Split assets
Spouse A e50,000
Spouse B e50,000

I appreciate feedback. Such dark and terrible time I am facing. I need strength.

Is the Debt on the house?

newman10

JimmyMW wrote: »

Is the Debt on the house?

This is an interesting Case, based on a husbands business debt, you would need a good solicitor for information

https://www.lawsociety.ie/News/News/Stories/Return-to-innocence-the-innocent-co-owner-in-mortgage-litigation/