Hi,
My ex and I are in the process of agreeing asset spits etc prior to court orders for the financial and property settlement. We sold a jointly owned property and with her written agreement due to banking issues the money was transferred into an account in my name only. I'm more than happy to give her half of the sale money but she is demanding it now in advance of any court order. I feel that it is best to leave the money sat where it is audit able with no one benefiting from it or using it till the court orders are in place.
My question is, do I have to hand over this joint asset money in advance of the court order as I feel that we need the total asset pool to be realised and put through court before this is split and paid out to either? Neither of us needs the cash to survive so it's more that she wishes to have her half now. My argument is that once we get into court we can then both take our shares and move on.
Is there a legal requirement to settle joint liquid funds in advance of a court order and if not as the account is completely auditable can the money remain there or should I at additional cost transfer it to a jointly agreed solicitor's account to hold pending the financial settlement?
I welcome any input.
My ex and I are in the process of agreeing asset spits etc prior to court orders for the financial and property settlement. We sold a jointly owned property and with her written agreement due to banking issues the money was transferred into an account in my name only. I'm more than happy to give her half of the sale money but she is demanding it now in advance of any court order. I feel that it is best to leave the money sat where it is audit able with no one benefiting from it or using it till the court orders are in place.
My question is, do I have to hand over this joint asset money in advance of the court order as I feel that we need the total asset pool to be realised and put through court before this is split and paid out to either? Neither of us needs the cash to survive so it's more that she wishes to have her half now. My argument is that once we get into court we can then both take our shares and move on.
Is there a legal requirement to settle joint liquid funds in advance of a court order and if not as the account is completely auditable can the money remain there or should I at additional cost transfer it to a jointly agreed solicitor's account to hold pending the financial settlement?
I welcome any input.