Wife gets how much from sale of home ?

T

thelad77

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My friend is living in a new house ,
the family home is being sold.
The loan is paid off, her name is on the deeds, family home is empty.sale goe,s through in 3 weeks .
how much is she legally entitled to ,from the sale price , 220k.
50 per cent or less ?
They are not separating or divorcing ,they have no debts .no large outstanding loan to pay off.
the husband paid for 85 per cent of the loan payments on the house .
She asked me to find out her legal entitlement .
They are in a good relationship.on good terms .
The husbands salary is 100k plus per year .
 
But as the property is in her name the solicitor will pay the net proceeds to her only. Legal entitlement may be a different matter if a subsequent dispute arose. The request appears strange given the circumstances outlined!!!
 
If he paid 85% then she paid 15% so they get the same percentage of the money left over after costs etc. Who paid the deposit, if he did in a different percentage then he should get that too. Or vice versa.

I presume her name is on the deeds, means both of them are. Not that it makes much difference.

Who paid the utility and grocery bills? If for example he paid 1K per month for the mortgage and she paid 1K per month for the utilities etc, than the house should be split 50/50.

Are there children?
 
thelad77 said:
her name is on the deeds,
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Therefore funds will be paid to her AFAIK. Any claim he has will need to be proven. Technically she can pocket the money and he would need to take action for his share. Solicitor would give you the best answer on this.
 
Solicitors would be very careful in these circumstances and would be slow to hand over the proceeds, anyway I think the deeds are in both names, it's unusual to be otherwise in a married couple.
 
I'm probably being a bit pedantic on this Bronte but I owned my house when I got married and when I subsequently sold the property some years later the cheque was payable to me.
Subsequent property was in joint names but there was an opportunity to head for the hills with a big cheque in my pocket claiming mid life crisis:D
 
Sorry i should make it clear,
property is in joint names ,
her name ,and his name .
he borrowed 30k approx from her in cash ,
15 years ago .to start a business .
business is booming .
 
"My friend is living in a new house ,
the family home is being sold.
The loan is paid off, her name is on the deeds, family home is empty.sale goe,s through in 3 weeks .
how much is she legally entitled to ,from the sale price , 220k.
50 per cent or less ?
They are not separating or divorcing ,they have no debts .no large outstanding loan to pay off.
the husband paid for 85 per cent of the loan payments on the house .
She asked me to find out her legal entitlement .
They are in a good relationship.on good terms .
The husbands salary is 100k plus per year ."

I'm going to re-write this as I understand the very muddled situation to be - actually, I'm going to imagine what I think actually/possibly/potentially happened/is happening.

You have to pity Judges when dealing with lay litigants who (by and large) cannot distinguish between emotion and reality, never mind relevance. You can just imagine a Judge trying to work through the above.

My friend, Julie ( I'm sick of calling them all Mary) bought with cash- (where did she get the cash/) / is renting a new house- what is her income?. She is married but they're having a trial separation/ they're separating but they don't need solicitors because her husband is going to sort everything out/ they've gone through a legal separation ( so did they agree what would happen the sale proceeds?). No, they're not separating - did they not ever talk about this?

The two of them are in their 30's (how did they pay off the mortgage ? ), 40's ( ditto), 50's / 60's - more likely to have paid off the mortgage

They bought the house in their joint names - hubby paid most of the mortgage but she stayed at home to rear the kids/ she was too lazy to do anything so he was forced to pay for everything , which is why they're separating.......

They're staying together as a married couple- now that makes sense - they are not talking to each other about anything important!

What is her legal entitlement? On the face of it, 50% , but so much depends on all the other circumstances - as in where is she now living? A house bought by himself? Which would, possibly, negate/lower her entitlements.

Is it beyond the bounds or reality that she would ask the question of her spouse?

My guess is that she is on the title and was on the mortgage - now paid off.

The sale can only go ahead when she signs off on everything - and she should not do that until she resolves this. She has only herself to blame if she signs everything, no questions and then the sale proceeds are lodged to a joint account and he removes it all.

But there is far more to this.

Tune in later for the next thrilling instalment..................

mf
 
I'm probably being a bit pedantic on this Bronte but I owned my house when I got married and when I subsequently sold the property some years later the cheque was payable to me.
Subsequent property was in joint names but there was an opportunity to head for the hills with a big cheque in my pocket claiming mid life crisis:D

Ah yes - but property was in your sole name and your wife will have signed a Family Law Declaration confirming that the property was not your/her family home.

mf
 
So, I'm writing this down so you can tell me if I have anything wrong:

They owned a house together as husband and wife (they were both on the deeds), and it was the family home.

On the sale she is legally entitled to half, I think, but I'm assuming there isn't anything else important left out. It doesn't matter who paid what, or what money she gave him to start a business. All this is moot unless they want to split their money.
 
he has stated ,
money from sale will be paid to both him and her .
she will recieve a share ,
will the share be 50 per cent ,or less ?
as his wife she is on the deeds .
in legal terms this is the Family home being sold ,
under the family law act .
There are 2 children not living at home age ,over 20 ,
he has agreed to pay her a fair share ,
i don,t know what the term family money means in legal terms .
his and her name is on the house deeds .
She lives and he lives in the new house ,
they are not in any legal dispute ,
they get on fine .
She just wants to know ,what is she entitled to .
50 per cent or less .
i don,t know , did they split the bills ,or she paid for food etc
i have the impression he paid the large bills,esb,gas, water tax, cable tv
as he is on a large salary .like 3 or 4 times her wages .
she paid for her car loan, car insurance ,petrol .
There is no one heading for the hills as both names are on the house deeds .

NO one is separating .there is no legal dispute here .
but he says the proceeds of the sale will be split between her and him.
no big split or drama here .

she thinks she should get 40-50 per cent of the sale price ,minus expense,
expenses are legal fees and fees to estate agent .

She raised 2 kids while working 9-6 4 days a week in an office job.
she had to sign various documents under the family law act ,
to give formal permission for the house to be sold .



ALL that is happening is the home is being sold ,

and they are splitting the proceeds of the sale ,

there is no separation or legal dispute going on.
they are living in a new house ,
as a married couple .

She just wants to know ,
is she entitled to 50 per cent or is it up to the solicitor who is handling the sale
to send 2 cheques ,

one to the husband and one to the wife .

or does the husband decide ,ill give you 30 -40 or 50 per cent of the proceeds of the sale .?
 
mf1 said:
The sale can only go ahead when she signs off on everything - and she should not do that until she resolves this. She has only herself to blame if she signs everything, no questions and then the sale proceeds are lodged to a joint account and he removes it all.
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As already pointed out by MFI who appears to know his stuff this issue should be resolved between them in advance. Legal entitlement can be disputed by either party but the best option is for both of them to agree the split in advance. If she is not happy with what is proposed she should delay signing the documentation until a satisfactory agreement is reached.
 
I don't think the solicitor will send seperate cheques. It sounds like they are making it more complicated than it has to be. She is entitled to half.

What have they agreed?
 
This house is taken as the family home in legal terms for the purpose,s of the transaction .
i doubt see where the view is someone lazy or not ?
relevant to the legal division of the proceeds of the sale of a house ,
she wanted her own income , even though she could have just stayed at home and brought up the children ,
Instead of working .
She has instructed the solicitor to send her share of the sale to her in the form of a bank draft .
HE has agreed to do so .
I do not think they have any Joint account ,in any bank .
she has her own bank account .
he has 2 or 3 bank accounts .
she has her own income .

2 people are on the house deeds ,

why the hell would a solicitor send the money in to a joint bank account ?
instead of sending 2 bank drafts to the husband and wife .

she went to the solicitor ,
he has agreed to send 2 cheques ,
one to her ,one to him .

i would have thought if 2 people are on house deeds ,
the money is split 50 /50 by default , with separate payments to both owners ,
unless there is a legal agreement or formal instruction to the solicitor to divide the proceeds in a certain proportion ,
say 30 to the wife , 70 per cent husband .
 
if 2 people are on the house deed,s are they not taken to be equal owners when it comes to the sharing of the
proceeds of the sale of the house .
Why is it presumed the man gets to decide how much the wife gets ?
 
The plot thickens.

Did she go to the solicitor about two cheques on her own?

Based on the new info she shouldn't accept less than half, and I'd be signing no transfer deed if this was not agreed. Which it seems it is and it's all very simple. But I doubt it.

In answer to your question on the sale proceeds our solicitor made it out to both of us, we made a photocopy of it, lodged it and we had a great night.
 
Her share will be sent to her in the form of a bank draft.
no joint account involved .
she agreed this with the solicitor .
 
She has her own car , her own job, why would she use a joint account,
he has a business ,he has maybe 5 banks accounts ,
is this iran,?

is it 1975 now,
lets say she is entitled to 100k,
why would she want to put it into her husbands bank account ?
i,m puzzled in 2016 can a woman not have her own bank account and her own money
?
he pays taxes on his business ,
and his income,?
it would screw things up abit,
if he recieves 200k
into his account ,
even though 100k of that is due to his wife .

much simpler to sent 2 cheques ,one to each co owner ,is it not ?
he is not in ireland for the next 2 weeks ,
she has no choice but to go on her own.
he travels as part of his job.

so is the answer 2 co owners ,2 names on house deeds,

if there is a mans name on the deed ,
he gets to choose how money is divided .?

or does it go by who paid the bank loan.

mortgage was paid off in 2012.


is every house sale paid into a joint account usually .

so there are no men who have a drink,drug problem, or gambling problem in ireland.
we are all perfect in ireland .

they have agreed to the money being split in 2,

she is not sure of the exact percentage ,is it 40/60. 50 -50 etc
she has signed all documents ,eg
i give full permission for the family home to be sold ,etc
sale will go through in 2-3 weeks
 
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