Hoping the guys, girls and anyone good at splitting up can help me

Lets say two people have bought a house and are now splitting and one is buying the other out...... They have both paid in using the figures given. equal

House bought for 200K
House now worth 250K
Mortgage settlement 185K
Contents 10K

It is simply a case of one gives the other 37500??

Thanks
Ian

 

your maths is spot on. however, are the deeds in both names? could be a stamp duty cost to be factored in when transferring half of it across

good luck - sounds like it's being resolved amicably which has to be the best way.

Gordo

 

Cheers matey..... not sure about the deeds as it is not for me....

 

Not sure about the deeds, but the financial split is fair.

A solicitor would be able to answer the other question

 

If you're both happy with it, you don't need to pay a lawyer to tell you how fair it is!

 

Dealing with divorce amicably is so much cheaper than appointing a lawyer. If both parties are agreeable to the settlement, why pay a "professional" to milk both parties by falsely representing they are entitled to more. My ex wife lost out (around £70k) by taking poor legal advice. Had she taken what was offered......

 

Ditto, if they can agree (like adults) and just get it rubber stamped by a solicitor then that's by far the cheapest solution.

Solicitors are very good at winding parties up into an "you're entitled to it..no you're not" argument, then in the 11th hour suddenly back tracking for a 50/50 solution (and getting their fee's added in)

 

If there are children involved, the courts always used to bias the settlement as much as 75% in the favour of the parent having custody.

Les