What is an asset ...

[WiseOldSage]

My husband and his ex wife really botched up their divorce and now it has come back to haunt us. We now have to fill in a form E (financial statement) and the form asks for my income, assets and liabilities. My house was mine before I met him and my savings are made up of money saved before I met him, a tribunal pay off and a matured bond. I now have to declare a whole load of stuff to go in the pot - this is so unfair. He is still paying her mortgage and she has not contributed at all - my question is what is an asset in legal speak because it does not specifically say property and, he only has to put down info, "if known to him". Can I refuse to give him the information for the form?

[boxtops]

Is the house still in your name only? - and the other money, is it just in your name? If so, surely those assets can't be used when calculating your husband's assets? (I am not a legal person but if something is in your name only, surely that protects it?)

[cathfromsaron]

CAB or one hour with his solicitor STARIGHT

[boxtops]

Good idea, cath, most solicitors give you a free starter session these days.

[cathfromsaron]

*straight away! oops it just jumped away!

but surely your assets are not his??

cath x

[RATTER15]

I think when you marry everything become "joint" property, I think you will have to declare everything.

I may be wrong.

[boxtops]

Depends - IMO - if she put the house in joint names when they married, it could be partially his now in legal terms? However - I would rather someone who knows the law in these matters commented, I could be miles off.

[WiseOldSage]

The house is in my name only. I pay the bills and he pays her bills. I have savings too and assets ie my car my means to get to work. We even paid her bills when I lost my job.

[WiseOldSage]

We want to be released from the mortgage and she won't take it over. She nullified an agreement she has benefitted from for four years which stated she was to get a mortgage for the last three years and the house was hers. She now claims she was "ill" when she signed it. She is deploying tactics to delay an order of sale (filed). Our only option is to default on the mortgage. Kids are all adults now.

[WiseOldSage]

I only work part time but receive good maintenance for my daughter. Surely I don't have to declare that?

[TonyV]

Did your husband have a solicitor acting for him when he got divorced? The legal and financial bits will be in their agreed divorce settlement?