If you're in a relationship and thinking about how to protect your assets, a Contracting Out Agreement (sometimes called a “prenup”) might be the right step for you. These agreements are made under section 21 of the Property (Relationships) Act 1976 and allow couples to agree on how their property will be divided if they [...]
So you’ve signed a contracting out agreement (“agreement”) (commonly referred to as a “prenup”). What happens if the worst occurs and your partner dies? While the contracting out agreement will still apply, it may be limited. That is, other sections of the Property (Relationships) Act 1976 (“the Act”) may override the agreement. Let’s take a [...]
A separation can be quite a stressful and taxing ordeal in itself. Having to include the Family Court in the mix will likely to make things much more complicated, and not to mention, expensive. Therefore, it is advised that parties should try their best to come to a private agreement amongst themselves. This saves a [...]
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 [...]
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 [...]
