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For unmarried couples
It is increasingly common for people to now be living together as a couple without being married. When such relationships come to an end many unmarried couples are surprised to find that they do not have automatically the right to a share in each other’s finances and property on separation. Another significant difference is that there is no entitlement for one party to obtain maintenance from the other.
The Court will take into account important issues such as who paid towards the deposit of the property, mortgage payments, substantial improvements to the property and how the parties have conducted themselves with regards to acquiring a financial interest in that property. Sometimes a non-owner of a property, on the basis that they have been led to believe that they will have a beneficial interest in the same will acquire an interest in their property.
Money & Property Disputes
Where parties are unmarried, generally speaking they will retain any money and property in their own name, unless some form of trust can be established or the case fulfils the criteria for applications under the Children Act, for the benefit of dependent children.
It is important to consider when property is owned in joint names, who has made the mortgage payments or any other significant capital payments. Unless you have reached a prior agreement there is an assumption of equality.
If a property is owned in joint names there will be an assumption that you are joint tenants (unless you have agreed otherwise and opted to be tenants in common, or any other agreement under a Trust Deed). Each party will have equal shares, rights and obligations within that property.
Money & Property Solicitors for unmarried couples
These types of disputes can be extremely complex. Our specialist Family Law Solicitors, who have many years of experience in assisting unmarried couples, will be able to provide you with expert advice. They can be contacted on 0844 800 9860 or alternatively, please contact them online.
For Married Couples
It is rare for any couple to consider distribution of money and/or property prior to separation. It is common for emotions to be running high during and after the separation period making it difficult to resolve such matters without legal advice and support.
Our Family Law Solicitors can support you through this period. We provide a tailored service and free initial telephone consultation for all our clients. Call us now on 0844 800 9860 or contact us online for advice about your specific issue.
Money & Property Disputes
Where parties are married the Court has a wide discretion to redistribute income and assets. This will depend upon a number of factors such as: –
- Income, earning capacity, property and other financial resources which each of the parties to the marriage have and is likely to have in the foreseeable future.
- The financial needs, obligations and responsibilities which each of the parties to the marriage have, or is likely to have in foreseeable future.
- The standard of living enjoyed by the family before the breakdown of the marriage.
- The age of each party to the marriage and the duration of the marriage.
- Any physical or mental disability of either of the parties to the marriage.
- The contributions made by each of the parties to the welfare of the family including any contribution made by looking after the home or caring for the family.
- The value to either of the parties to the marriage of any benefit that the party will lose the chance of acquiring if the divorce is obtained.
Orders that can be made through the Courts can include periodical payments or maintenance payments, lump sum payments, transfer of property, pension sharing and attachments; either party to the marriage can make an application for any such orders after the Decree Nisi has been pronounced.
The Courts can make Orders concerning assets not only in this country but also assets held overseas be it family trusts, bank accounts or properties. The Court has extremely wide powers and there are many complex issues which arise when dealing with assets held off shore including tax and trust implications as well as enforcement. We have had significant experience in assisting clients when faced with such problems. These may necessitate seeking advice from foreign lawyers and also accountants.
The legal framework and procedure for financial matters urges the parties to try to reach agreement between themselves, this can be directly, through solicitors and consent orders can be drafted and filed with the Court to ensure that any agreement becomes legally binding.
Money & Property Solicitors for married couples
Our specialist Divorce Solicitors provide a tailored service and free initial telephone consultation for all our clients. Call us now on 0844 800 9860 or contact us online for advice about your specific issue.
