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Marriage but no joint mortgage

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ch0505 | 16:56 Thu 13th Apr 2006 | Business & Finance
4 Answers

If a couple are married but the mortgage is in the husbands name only what happens if they split up? The house was purchased by the husband a year before they met and married, he has one child to a previous wife.



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Unless theres a pre-nup then the new wife is entitled to half of all assets and he hers. Legally everything is joint, regardless of who paid for what - when you're married you are both responsible for it all and entitled to half of it all equally.

but it'll be a messy divorce
I don't think the 50:50 split is always applied. I think it depends on a variety of things, like the length of the marriage, whether there are children of the marriage, who provided the finance for the home and paid the ongoing bills for it, whether both parties worked and contributed to the joint finances etc. If the parties can't come to an agreement themselves then eventually )after a lot of legal expense) a Divorce Court judge will decide.
Its not always 50/50 as previously said, it all goes in the pot, debts and assets and then if they cannot decide amicably the Court will decide ... depending on length of marriage etc. as stated.

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Marriage but no joint mortgage

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