financial settlement sfter divorce

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financial settlement sfter divorce

I have been married 12 years to my current wife. I have a flat mortgaged until I’m 75 in my sole name which I bought prior to my marriage 5 years previously. The marriage has broken down and I will no longer be able to pay the mortage and want to retire. I am also in poor health but still working currently 69. I am currently in receipt of state pension and teacher pension. My wife is 20 years younger than me, so she is working but makes no contribution to houshold bills or the mortgage. She is making demands on a share of the flat proceeds when sold. Where do i stand legally on splitting if that is indeed the case?

Asked on August 19, 2018 under Family Law, Alaska

Answers:

M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney

Answered 3 years ago | Contributor

As long as you purchased your home prior to your marriage, it is still solely in your name and your wife has not financially helped with the mortgage payments or any maintenance, repairs or improvements, then she has no claim to the house or any equity in it. If, however, she did contribute to the maintenance, repairs, and/or improvements, then even if she did not pay towards the mortgage she may have a claim to some of the equity. At this point, you should consult directly with a local divorce attorney. They can best advise you further after reviewing all of the facts of your situation.


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