Divorce and Separation and your property
As you may have seen in the national press the 6thJanuary is dubbed “Divorce Day”.
The papers have labelled this date as “Divorce Day” due to the fact it is expected that there will be more Divorce Petitions issued on this date than any other day in 2020.
Many people suggest that this is due to the fact married couples have spent “too much time” with one another over Christmas and that they are “fed up” with one another. Parties are therefore believed to petition for a Divorce on the first available opportunity in the new year which in this case is the 6th January!
With many separations, whether the parties are married or unmarried, there will be a property that needs to be considered and dealt with to ensure a clean break can take place.
There are many options that can be explored at the time of separation and here at Thomas Flavell & Sons we always advise our clients to speak to one of our experienced Family Solicitors to ensure you know your rights before you come to any agreement with your spouse or partner.
Once either an agreement has been reached between you both, or an Order is made by the Court, this is when the Conveyancing Team here at Thomas Flavell & Sons are able to assist you to either sell your property, transfer a property into one parties’ name (also known as a Transfer of Equity) or re-mortgage a property to ensure that equity can be released allow you to purchase your spouse/partners legal and beneficial interest within the property.
This is often a complex area of law which can often involve Stamp Duty needing to be paid which many separating couples have not budgeted for and are often simply unaware of!
Should you wish to discuss the sale, re-mortgage or transfer of your property upon separation please do not hesitate in contacting Matthew Thom, or one of the Conveyancing Team, who will be happy to discuss, in simple to understand steps, how we can assist you at often this difficult time.