A family home is often the most valuable assets divorcing couples have. It is imperative that we deal with it in the right way. You are looking to achieve a home for each of you and children if you have them.
Depending on the… there are various options that you can consider:
Sale of property
Transfer of the property to one party
Sale at a future date
Buy out your Spouse’s share
There are usually various options to chose from. You may wish to transfer the property in one person’s name. If they cannot afford to take on the mortgage, the lender will not release you from your obligations. So this needs investigation.
If you sell the family home, are the proceeds enough to allow both of you to rehouse yourselves? Will one consider renting?
We will give you practical solutions to these types of problems. We will consider the financial and family circumstances, suggesting options that are workable.
Investment properties are usually considered as assets. But there are reasons why this may not be the case. If the property belonged to one party before marriage or inherited.
If the investment properties form part of the matrimonial pot, you must have them valued. Don’t worry there is no need to sell them at this stage, maybe they don’t need to be sold at all. Offsetting investments against other assets is one choice. But get all the values first.
You will choose how best to divide the assets with our help. Don’t forget we need to take into account the CGT that will one day be payable. We must consider the mortgage and any charges against the properties. Lets us not forget the monthly rental income which will be paid to one of you.
Our divorce experts will help you to piece all this information together. You can both go through an amicable financial negotiation and come to a fair agreement.