Buying a home together. We see a lot of couples who want to buy a home together, perhaps after a previous divorce or getting together later in life. Both scenarios are increasingly common.
In these circumstances, the couple is likely to have individually accrued assets before they have met, which they want to use to contribute towards a purchase of a home together. They might also have children from a previous relationship to who they want to leave their assets on death.
What if you separate or die?
If the relationship breaks down or one person dies unexpectedly, joint property ownership can cause problems. There can be disputes about the number of financial contributions made towards the property and who gets what from the equity in the family home.
If you recognize this scenario in your own life, please do contact us. To help you safeguard against possible future legal disputes, there are some very important legal documents that we can prepare for you:
Before you get married (but also available after your actual wedding day), we can help you prepare a Matrimonial Agreement to record what should happen if your marriage doesn’t work out as you hope.
A Deed of Trust can record how the equity in the property is shared between you (perhaps in unequal shares) if your relationship breaks down or one of you dies. This option is available to both married and unmarried couples.
Making a Will is essential, especially if you wish to leave money or property to your children from a previous relationship.
If you are considering buying a home together, we encourage you to contact us for legal advice or to learn more about what this process involves.
We are here to help you make informed choices, minimize the risk of legal problems in the future, and (if necessary) fight to help you achieve the best outcome if the worst happens. We continue to offer all new clients an initial free legal consultation lasting up to 30 minutes so that you can talk to us confidentially and get a good idea about how you can achieve peace of mind in your new lives.
To book a free consultation and discuss your family’s legal matters, including purchasing a property together, simply click here and speak with us in confidence.
by Rob Price, Family Law Solicitor