Can my ex claim CSA for any property I sell?

December 31, 2012

I seperated from my partner of 20 years in 2009 we had 3no children Lauren, George and mellissa. WE were not married and she had no legal claim to my house . We signed a separation agreement in which i agreed to give her a gift of £120000 and she agreed to parental responsibility and custody times. since then it has been very difficult to see my children and on the times agreed, i accepted this rather than fight through the courts asi had decided that they had been through enough turmoil in the previous 4 years.

I completed renovations to my house and eventually sold it in april 2011 with £400000 equity, I then moved into my parents house, where I have been living up to now. In december 2012 i bought an office building for £175000 which i have been converting into residential accomodaion and is now registered as an HMo. In march this year my ex was granted a variation order against me for the value of the property and the remaining money which was left in bank accounts.

If i sell this property in the future willi she have a claim against the profit made on the propery ? If I register for council tax and live in the property partly will this variation be reduced, is there a specific number of nights i have to stay in the property per week, If raise a mortguage against the property will it make a difference if it is a comercial or personal one, will it make a difference if i share the property and received rent.

Please advise.

Comments

One Response to “Can my ex claim CSA for any property I sell?”

  1. Smithy on December 31st, 2012 11:45 am

    The advise I’ve had is as follows.

    If you live in a property and it’s your primary residence then all the equity is locked.

    Any cash, investments or equity in another property you have over £65,000 is expected to generate 8% per year income for you. From that 8% they then do their normal calculations of 15%,20%,25% so in your case it would effectively work out at 2% of your capital assets would need to be added into your income pot. It’s not worked out like income tax so if you have over £65,000 then it’s all of it until a time when you have less than £65,000.

    There are ways around it as you mention a few the point being though that it’s still an asset so even if you put it into a business there would still be a fixed asset value that is calculated that it should be giving you an income return of 8%. If you had a mortgage against it inside a company with income being used to pay a mortgage off you still have the cash sitting somewhere.

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