Separation can be a very anxious time for families, whether you are leaving a marriage, civil partnership, or a cohabiting relationship. One of the issues at the fore front of many people’s minds is the family home, particularly where there are children. The first consideration is the needs of any child under the age of 18 years.
In many cases there is insufficient available capital or net equity in a property to allow each party to immediately purchase a home of their own. So how can this issue be resolved? There are several ways in which the family home can be treated in matrimonial proceedings. It can be more complex for cohabitees who have decided to separate.
When dealing with matrimonial matters the family home is not treated in isolation. The net equity in the property is considered together with pensions, savings, inherited assets, income and liabilities. There may be other relevant factors to consider dependent on the issues in the case.
Working out how the assets are to be divided and addressing disparity in income need not be acrimonious. A conciliatory approach, through negotiation, can be an effective tool to resolve issues and to reach an agreement in a timely and cost-efficient manner.
Similarly, a cohabitation dispute can often be resolved through negotiation, however the field is narrower in terms of a cohabitees’ claims.
The court is the last resort, but If parties find themselves in this arena, it need not be seen as an adversarial forum. It is however an effective tool to put a timetable in place to work towards a final resolution.
Here at GloverPriest we can assist you with separation issues. GloverPriest solicitors has a presence across the Midlands with offices in Wellingborough, Tamworth, Lichfield, Great Barr, Kings Heath, Quinton and Stourbridge.