Recommend mediation.am.trying to decide best way forward in a fair settlement
That's a very important detail you left out of the OP. That's always a tricky one. With a lot of emotion involvedOh absolutely we tried mediation he would not continue it unfortunately. We are applying for pension adjustments orders and maintenance etc. Family home is a major issue as it is on his families land. Its a joint mortgage on jointly owned site.
Could you not take the rental property ?Hello everyone. I am writing to ask advice on upcoming divorce.
1 dependent child of 14 and older child finished colleg.
Basically 2 property are involved both with pepper.
Rented house worth approx 250k approxaimetely 60 k remaining on mortgage due to finish in 9 years.
Family home interest only mortgage with pepper outstanding mortgage of 240 k finish date 9 years house value approxaimetely 500k.
I am.trying to decide best way forward in a fair settlement.
My ex spouse earns approx 45000 pa. I earn approx 80k per annum. I work in the public sector and my ex spouse works on private sector has a private pension. I am aged 45 he is 50.
Shoulfd i consider a buyout of family home and remortgagingg
and offering spouse rental property.
Other option is remain in family home and sell both properties in the future.
My ex is currently renting a small property.
Many thanks
Did you purchase the land that the family home was built on or was it a gift?Hello everyone. I am writing to ask advice on upcoming divorce.
1 dependent child of 14 and older child finished college.
Is your current family home on the family land owned by you and the ex? Would your in-laws be petty if you and their grand children continued to live there?
Between both houses you both have equity of €450K, so €225K each. What if you offered him the rental house with the 60K mortgage plus €35K cash (190K equity plus 35 being 225K) and you take the family home, equity of 260K plus the 240K mortgage. Then you take out a mortgage for the 240K in your own name.
That would be a very generous offer on your part but is just about affordable for you and you get the house clear of the risk of selling it off in 10 years time. Plus you could sell whenever you want. Your ex also gets a house with a small mortgage - €25K if he used the lump sum you offer.
It is just another option to consider. If you sold both houses now you would have €225K each to buy a new home.
If ye do sell the house on the family land then any stranger might end up living there.
Does you solicitor feel this or does your solicitor feed what you would like?Thank you.i would be hoping to remortgage family home in my name with another provider if possible.
My solicitor feels if we cannot agree judge could rule I and children stay in family home until youngest finishes education and my ex can live other house and both houses sold in future. It is very complex.
It is very difficult to rent, there is no doubt about that. Selling and buying will also eat into cash. To say nothing of the stress.I really don't know what I want its down to affordability too.
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