Separating with your spouse or partner can be incredibly stressful, and sometimes made worse where you have a mortgage together. If you are unsure on your property rights and cannot reach an agreement, it may be worth speaking to a solicitor to help ease tensions and move the process along.
The law which applies to property differs greatly depending on whether you and your partner are married or not.
Married Couples
For separating married couples, the property is just one issues that has to be looked at along with all the other assets and debts of a marriage (e.g., pensions and ongoing financial support).
In long-married relationships, assets will be considered equally before looking into each person’s individual circumstances, including:
- Income, earning capacity property and other financial resources
- Financial needs, obligations and responsibilities
- Standard of living before the breakdown of the marriage
- Age
- Physical or mental disability
- Contributions to the welfare of the family
Unmarried Couples
For separating unmarried couples, the property is looked at on its own. The starting point would be to look at how the property is recorded as being owned at the Land Registry, although the housing of any children in the relationship may be a factor.
Often in unmarried relationships, the history of the relationship, financial contributions and what has been jointly discussed will need to be carefully considered before any advice can be given. This advice will include consideration of whether any trusts have been created, either deliberately or through conduct.
How Can a Solicitor Help?
It is important in any negotiation that full information is provided to a solicitor so that advice can be given before any proposals are made.
A solicitor can give advice at each stage and can also assist with negotiation and court proceedings.
At Nockolds, we have several specialist family lawyers who have experience in dealing with the finances of both married and unmarried couples.
Our lawyers are able to support through negotiations and have experience in a number of different techniques including negotiation through correspondence; supporting clients in mediation; roundtable negotiations and collaborative law.
For more information and to find out how we can help you, please contact us on 0345 646 0406 or fill in our online enquiry form and a member of our Team will be in touch.