Quizzes & Puzzles1 min ago
Am I entitled to a bigger share of equity because of my child
My partner and I are separating and I had heard that if you are married and have a child whoever the child will live with gets an extra share of equity (two thirds) as provision for the child.
Does anyone know if this is the case? and if so does this apply to people who are not married?
Thanks.
Does anyone know if this is the case? and if so does this apply to people who are not married?
Thanks.
Answers
Best Answer
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For more on marking an answer as the "Best Answer", please visit our FAQ.Well its not so clear cut if you are not married, however if the house is in joint names then you need to decide who gets what, and either the person remaining with the child could remain in the property and the other person buy them out, or the house could be sold and the proceeds split either 50/50 60/40 or whatever you decide. If you don't agree and solicitors and courts get involved then that could work out expensive in legal bills, but I would say it is quite likely dependingo on the age and needs of the child and the income of both parties, that the person remaining with the child would receive more.
When my bloke split up with his ex (not married) she had to buy out his share of the house 50/50 but as she couldn't afford the whole amount she gave him what she could afford at the time and the rest is to be paid when his youngest child turns 18. Even if that means her selling the house at that time.
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