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Property paradox

06 December 2006
Issue: 4087 / Categories: Forum & Feedback

Our client is getting divorced, with an expected date for the decree absolute before 5 April 2007. The date of separation has been agreed by the parties to be 30 November 2003, when the wife moved out of the marital home and into a cottage next to, and in the same grounds as, the marital home. The house and cottage are the couple's only property assets and the cottage was let up to the date that the wife moved in.
The marital home and gardens are valued at £1,000,000. The cottage, with a separate garden, is valued at £400,000.

Our client is getting divorced with an expected date for the decree absolute before 5 April 2007. The date of separation has been agreed by the parties to be 30 November 2003 when the wife moved out of the marital home and into a cottage next to and in the same grounds as the marital home. The house and cottage are the couple's only property assets and the cottage was let up to the date that the wife moved in.
The marital home and gardens are valued at £1 000 000. The cottage with a separate garden is valued at £400 000.
At present the house and cottage together are valued at £1 600 000; the property is owned jointly and the house has been the marital home since it was purchased in 1975 for £100 000. The cottage was created from an...

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