Contracting out of the equal sharing rules relating to relationship property

Posted by:

Contracting out of the equal sharing rules relating to relationship property

The rules around how property will be divided if a relationship breaks down are set out in the Property (Relationships) Act 1976.  The idea is that spouses and partners are expected to share equally in the fruits of their relationship.

If you don’t want those equal sharing rules to apply to your property, then you and your partner can agree to contract out of the law, by signing an agreement.  That agreement may be called “pre-nup” “contracting out agreement” “section 21 ...

Continue Reading →
0

Relationship Property

Separation agreements and division of relationship property

Posted by:

Certain legal requirements must be met for a separation agreement to be binding.

One of those requirements is for both parties to receive independent legal advice and have the effects and implications of the agreement explained to them. Both parties must receive an explanation of what they would have been entitled to under the Property (Relationships) Act 1976 (“Act”). That means you must both use a lawyer and the lawyers must not work at the same law firm.

Generally one lawyer will ...

Continue Reading →
0

Relationship Property