Hi ,
I'm fresh to this so please bear with me.
In the event of divorcing my wife of 15 years and given we have two children aged 9 (twins) I'm trying to understand how it will bottom out in relation to who gets what.
I'm the bread earner and have been paying mortgage & bills from the start.
The property is in both names.
So I'm wondering in the event of divorce could I be bought out. If so presumably this would be market value of property less mortgage outstanding and then split 50/50 with the wife settling my 50% to buy me out?
Re the children if she dug her heels in would she automatically be entitled to remain in the house with me then having to continue paying the mortgage as well as child maintenance payments etc. ?
I appreciate each case is on it's merits but what is the general rule of thumb?
All advice & guidance appreciated.