Keen to secure sole ownership of the house after divorce?
Perhaps you’re worried that divorce means you’ll be forced to sell the family home, or you’re concerned you’ll be forced to leave a house bought in both your names.
When it comes to divorce and shared ownership of the house, it may seem as though your options are limited. In fact, there are many different possible outcomes that you should be aware of before discussing the division of property with your partner.
To help you understand each of these options, and determine which could be right for you, we explore what happens to joint ownership of a house after divorce.
Is a house split 50/50 in a divorce?
While a 50/50 split may seem like the fairest way to divide a jointly-owned house following a relationship breakdown, there are several avenues divorcing couples can take. Instead of selling the property and splitting the proceeds, one party may decide to buy out the other.
Alternatively, you can ask for the sale of the property to be deferred until a ‘trigger event’. Known as a mesher order, this is a common way for divorcing couples with children to prevent the sale of the property until the youngest child has either finished full-time education or turns 18.
To help determine which route is best, you may choose to undergo mediation, skilled negotiation or dispute resolution with your spouse while you try to reach a financial divorce settlement. If none of these legal avenues allow you to reach an agreement, you can take your case to court.
The court will consider a variety of factors including the income, number of dependents, financial resources, and property of each party to determine how the joint property should be split. Once these (alongside a list of additional considerations) have been assessed, a court order will determine what happens to the property.
Get in touch with our divorce solicitors
If you’re going through a divorce, have a house in both names, and would like to find out more about the process of dividing a property following divorce, please contact the expert divorce solicitors at Freeman Jones Legal.
To make this often-stressful process as pain-free as possible, we provide in-depth legal advice and offer our clients a wide range of resolution methods and legal avenues.
We have years of experiencing helping divorcing couples to reach an amicable agreement regarding their financial divorce settlement. Whether it takes mediation, skilled negotiation, dispute resolution, or even court action to reach a fair agreement, we’ll be there every step of the way.
One of the leading law firms in Chester, we also have offices in Liverpool, Warrington, Wrexham, and North Wales, so please don’t hesitate to pay us a visit and find out more about the way we work.
Upon receiving your enquiry, you can rest assured that we’ll be in touch shortly to find out more about your divorce case and arrange your free, no-obligation consultation.