Spouses details

greenspun.com : LUSENET : Repossession : One Thread

My husband is being chased by Halifax solicitors for a mortgage shortfall of 30k. We have served a SARN on them but are now thinking ahead. We dont want to get tied up in making payments to them so probably offer a lump sum and complete and I&E form (not necessarily theirs - I have heard the CAB do them too). The problem we have is that my husband pays most of his salary from his account into mine to help pay all the bills etc.. Everything is in my name, all our assets and bills. What I want to know is do we have to provide something to show what all the money he is giving me is paying for - basically give them my I&E too! I presume they dont have any right to see this but I am worried that they will demand a massive sum as they will see it as spare cash if we dont provide the details of what it is spent on.


-- lisa (lisajh29@hotmail.com), March 22, 2002


My experience: they will argue your husband has a beneficial interest in your assets and therefore they are, to all intents and purposes, joint. I will not state that this is set in stone, but I used to be in a position (work-wise) to see this argument successfully made all the time. The person with the debt, if living "in concert" with the asset holder, can be deemed a beneficial holder. The primary asset holder is then required to show the value of all held, beneficially attributable assets, so that the debtor's contribution and deemed ownership can be assessed. They have to be nasty b*****ds to take it that far though.

-- Too scared to say (iwasduped@yahoo.com), March 26, 2002.

I should have also said they can usually only do this if you are married to the new partner. Common law asset division is too costly to pursue.

-- Too scared to say (iwasduped@yahoo.com), March 26, 2002.

mmm - we are married. Strange they finally started chasing for the money as soon as I started changing my name on everything!


-- lisa (lisajh29@hotmail.com), March 27, 2002.

Too scared to say, does that mean that they can actually take into account my partners assets ? I think that I have been previously misled in advice because what you say makes sense as to why they are refusing to accept a full and final. I moved in with my partner after the repossession, the mortgaged home is in his sole name. Do you think that things could be taken further and request his details ? My main worry is that he has had this mortgage for over 15 years and there isn't much left outstanding on the mortgage owed, if they could prove this it could get very sticky and require a much higher payment which I clearly cannot afford.

Thanks for your help


-- Jessie (jessie01@talk21.com), March 27, 2002.

Jessie - if you aren't married to your partner, you must stand your ground and refuse to supply your partner's details. Proving beneficial ownership in a commonlaw relationship is a legal nightmare [for them]. Marriage is different - that is simple - if they were to divorce, then division of assets is commonplace, regardless of whom brought what into the marriage. That's the rule of thumb to go by, as far as I can see.

-- Too scared to say (iwasduped@yahoo.com), March 27, 2002.

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