Section 25 Part 2

Next consider: property. Firstly houses flats and other properties. You need to consider what the value of each property is. You then need to knock off money owed on a mortgage. You then need to take account of sale costs.

Next for consideration would be savings or shares.

Thirdly some thought needs to be given to whether the property can be said to be Matrimonial property i.e. property belonging to the parties, or whether it is non-matrimonial e.g. from an inheritance. Bear in mind however, that in the majority of cases the court is looking at how the parties’ financial needs can be met. In a case like that; the fact that some of the money came from an inheritance is not likely to be something which the court will be overly bothered about.

Finally give some thought to property which either party is likely to have in the foreseeable future. An important distinction here. Someone e.g. a bank manager may be entitled every year to a performance related bonus. At the time of the divorce he may have already been told what his bonus was going to be. A court would be likely to consider that as property he was likely to have in the foreseeable future.

Inheritances tend to be different. Generally speaking courts are reluctant to take into account what one of the parties will probably inherit in the future. It is difficult for the court to predict how long parties’ parents will live for and what they will do with their assets when they die.

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