Deciding to end a relationship is a huge decision to make, & often the property or ‘home’
that the couple may have lived in together for many years, is potentially the largest asset that they own.
In these circumstances getting good legal advice as to how the property should be dealt with on separation, is vital, to enable both individuals to move on with their lives. In some circumstances the couple may be in agreement as to what will happen to their home when they separate. Couples can do as they wish as there are no hard & fast rules if both parties are happy with their agreement. Sadly however, agreement isn’t always easily reached, possibly because there is no simple or obvious answer to the situation.
The solution to the problem will differ depending on whether the separating couple are married or not. If there are children living in the marital home, this will also have to be taken into consideration. It may be that the house is held in joint names or perhaps in just one of their names. In some circumstances, one individual may have contributed more money than the other at the time of purchase, or they could have paid for significant home improvements or reduced any mortgage balance.
These types of issues will all need to be dealt with, so it’s very easy to see how complex things can become, on top of a situation which is already very emotional. The most common questions that arise concerning the ‘home’ or property on separation are:
- Will I be forced to sell my home?
- How much will I be entitled to receive?
- Can I change the locks?
Other things to consider could also include, whether an individual can be released from any mortgage or whether an agreement can be reached for monies to be paid out at a later date. The answers to each of these questions will very much depend on the couple’s wider circumstances. Even when a separation is amicable, it is always worthwhile having an initial meeting with a Family Law solicitor, in order to understand the full legal position & to have answers provided to your key questions. This then places you in an informed position to be able to discuss matters, possibly reach agreement & thereby avoid on-going disputes, upset & unnecessary legal costs.
The well-established Family Law department at Okells Francis Law has delivered the best possible outcomes for its clients undergoing separation for many years. To make an appointment for an initial consultation & to discuss the options available to you please contact Okells Francis Law. Telephone – 01989 762009/01594 842242 Email – email@example.com