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Hi all,
So we are now almost 8 weeks away from final hearing after getting not very far with finances.
All of a sudden the ex seems more open to get a more sensible deal done and I would like some views on whether it's ok or not?
We earn similar wages, 2 children living with ex, cms is maximum (£638 on my 50k income), we have a house that all in all would mean best case £70k to me.
The offer is that I pay cms value and simply sign over the house 100%. Obviously small print needs to be added to cover any bases!
My thinking is a) I can't afford 10k legal fees for the final hearing b) the offer gets it over with c) cms would always apply anyway and I can't risk a judge ordering higher d) my 70k in the house would probably be locked in a mesher for 10 years so is a bit pointless to me now.
Any thoughts? I would like some cash from the house but it seems unlikely.
sorry im not experienced in this. but she wants you to pay cms and just hand over the house, and walk away with nothing?? if thats the case then thats one bad deal. you worked hard for that property, so i would say its definitely worth fighting for. i thought its common to just do 50/50 split on house equity and part ways.
I think a few questions first, such as how much total equity in the house - assumed £140K? What is the size of the mortgage? On her assumed 50K per year, could she afford the mortgage or a mortgage to buy another house if this is sold, or buy you out? What if any savings are there? Any other debts?
On the face of it (with very little to go on), you should not need to give the house away and walk with nothing. I am no expert, but basing on my similar situation where paying similar maintenance on similar salary with two children, with admittedly more equity in the house, I received a 45/65 split of house and savings.
Please be aware that any court agreement reached for child maintenance can be overridden by opening a case with the CMS twelve months after the order was made.
We have had members that have paid a lump sum to cover CM by court order, only to be billed for it a year or so down the line, when the receiving parent opened a claim with the CMS.
thanks for the advice mojo. during my hearings, the ex cried about not receiving any maintenance, but acknowledging that the child arrangement order is a completely separate issue. i would advise every dad to take the initiative and self-register with CMS.
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