The most common orders that the Court makes are as follows: -
Periodical Payments (Maintenance)
This is a payment made out of income by one spouse to provide for the other and is commonly is called maintenance. Payments usually take place every month and the length of the payments can vary. The order can be varied (either as to the amount payable or the duration of it) in the future if the financial or other circumstances of one or both parties change significantly. Maintenance payments are common for an unemployed wife and a high earning husband.
If the party receiving the maintenance remarries (or enters into a registered civil partnership for a same sex couple) or dies, it automatically ceases.
Lump sum Order
This is an order that one party must pay the other a sum of money. It is usually a one-off payment, but the Court can order it to be paid by instalments. It should be noted that there are penalties for late payment of lump sums which can accrue interest, generally at the judgment rate, which is curretly set at 8% per year.
Transfer of Property
This is an order dealing with property. It usually deals with land and buildings (eg the former matrimonial home), but it also includes stocks, shares, bonds, policies and household contents, cars, boats and other possessions. The Court has the power to transfer such an asset from one person’s name to the other either now or in the future. There is a power to order a sale and divide up the proceeds if the Court thinks it is appropriate.
Sale of Property
This is an order selling property, e.g the former matrimonial home. The Court has the power to order that property is sold straight away or it is sold at some point in the future. For example, a common order is for a property to be sold once children have turned 18 years old. This is known as a Mesher Order.
Pension Sharing Order
A pension sharing order is one that shares or splits one spouse's pension fund so that the other spouse has a pension fund that is personal to him or her. For example, there may be 50% split of one spouses’ pension. Pension rights can be very valuable and both parties will need to get a cash equivalent transfer value of each pension (CETV). You can find more information about shaing pensions here.