Financial & Property Disputes Solicitors
Disputes about who is entitled to what from a property are becoming increasingly common as less people are getting married or marrying at an older age. This often means that one or both of the prospective partners have assets or property when entering into the relationship. Issues can arise when a relationship ends and one person has made financial contributions towards a property which they do not actually own, but have considered as their own due to the nature of the parties’ relationship.
Increasing house prices also multiply the number of disputes between separating couples as people may have borrowed money from friends or relatives in order to fund a deposit and this is often given as a gift or early inheritance. One person may also make more of a financial contribution towards a property, whether through meeting more of the monthly outgoings or funding an extension etc.
In the above situations, when a couple separate the question is asked “How should the money in the house be divided between us?” People often try to claim back the monies gifted by parents, or additional monies funded through an inheritance or redundancy payment as they view this as fair, but the law usually states that unless these contributions have been protected, the couple are entitled to an equal division of the money in the property. This often produces what is perceived to be an unfair result. Even if the law may recognise a departure from equality, it can be a costly and lengthy process to have this decided by a court.
We can help you to take steps to protect your financial contributions towards a property at the point of the contribution being made. In the event of a dispute arising, we can also provide pragmatic assistance and help you through the court process.