My family and I wish to split up, and possess agreed in theory me half the value of the house we share and I’ll move out that she will pay. As she’s got simply inherited a lot following her father’s death she can repeat this. We now have paid down the home loan. We now have 5 kids all over 21, four of those living in the home, working, and having to pay their share for the outgoings.
I’m 67 and also have just retired, she’s 58 and works time that is part-full a decent wage, and does not like to throw in the towel work.
My concerns are:
Exactly just exactly What formalities do we truly need to be able to impact the buyout? Could it be determined by appropriate separation / divorce or separation?
Is any stamp duty due with this sale?
That is just viable it’s a clean break financially and she has no further claim on my pension for me if. Will there be any reason why can’t be achieved?
An option is death benefit from my retirement benefits. If We die my two last wage schemes can pay a widows retirement, and the state pension which may spend until my partner reaches her state retirement age at 66. exactly exactly just How would this be afflicted with separation / divorce?
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Just just exactly What formalities do we truly need so that you can impact the buyout?