Guide for Property and Divorce in the UK

In the UK, the starting for distribution of the assets in a divorce is 50/50. However, the financial settlement will vary as per the case; it depends on the parties, circumstances, and financial needs when deciding what each one will receive from the matrimonial assets. It is also possible that one party will get a greater share as compared to the other.

  • Matrimonial Assets

  • Solving Financial Issues

  • What Court Needs To Consider while Dividing Assets?

  • Income and Divorce

  • Adjustment of Property

  • Trigger Points of Payment

  • Financial Needs of each Party

  • Divorce and Inheritance

  • Divorce and Pensions

  • Spousal Maintenance

  • Departure from 50/50 Equality of Assets

  • Divorce Financial Order

  • How can Osbourne Pinner help you?

Matrimonial Assets

Matrimonial property or assets is called the “matrimonial acquest”. The property built up during the marriage period is described as the common financial product of the parties. Commonly the greatest financial assets are the pension and matrimonial home.

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Solving Financial Issues

The financial issues can be challenging to solve. The assets used to fund one household suddenly have to fund two households.

The Court has the authority to order financial payments like periodical payments which are also known as spousal maintenance.

It is the obligation of the Court to make the parties independent of each other as early as possible. This is mentioned in section 25(A) of the Matrimonial Causes Act 1973, which states as follows:

Income and Divorce

Each party has a duty to maximise their income so they don’t need to rely on the partner if they can be self-dependent, either partly or completely.

However, there may be times when one of the parties cannot work due to health or children. If they don’t have an earning capacity, this will affect their financial matters.

Adjustment of Property

The Court can order that the property owned jointly by husband and wife can be transferred to either husband or wife’s ownership.

If there are young children who need the house, then the parent who will have custody of the children can keep the property; the Court will preserve the property, and it will continue to be the children’s home. In this situation, the other partner will have to wait for their share in the property.

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