Buying a property with your partner is an exciting step forward - especially if you are moving in together for the first time, or buying your first home after renting.
At a time when you are making such an important commitment to your lives together, we know the last thing on your mind will be worrying about what might happen legally if you split up.
Many people are shocked to realise that if the relationship ends, there is no legal guarantee that they will be able to reclaim more than 50% of the value of the property, even if they have paid in more. The law in this area is not clear-cut and your claim may be difficult to establish. Even if you have a good case, if your ex-partner will not agree a settlement you would have to go to court - which may cost more than the amount in dispute, as well as being stressful and upsetting. There is also no legal right to have the property transferred into your sole name.
Our approach to fees
In terms of cost, we offer two fee packages :-
- Simple agreement - where all we need to do is agree how the equity would be divided according to a fixed formula - £750 + VAT and outlays.
- Bespoke agreement - in more complex investment scenarios and/or where there are other legal or financial issues which need to be addressed. We will give you a detailed quotation before starting any work.
Want to know more? You can have a free, no obligation chat to one of our specialist family lawyers. Our contact information is below, or you can speak to your conveyancing solicitor who will put you in touch with us.