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Clare
Clare, Family Solicitor
Category: Family Law
Satisfied Customers: 34105
Experience:  I have been a solicitor in High Street Practise since 1985 and have specialised in Family Law for the last 10 years
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Would a deed of separation protect 100% of my portion of the

Resolved Question:

Would a deed of separation protect 100% of my portion of the house equity from any debts my partner may run up after the deed is signed?
Specifically trying to protect my part (which we have agreed would be over 50% of the equity) from creditors on my partners side; we want to avoid selling the house now and continue living together.
The house is joint mortgaged.
I have money in a separate bank account (my name only) which I assume is already protected from any of my partners future debts in their name only. Am I correct?
Submitted: 9 months ago.
Category: Family Law
Expert:  Clare replied 9 months ago.

Thank you for your question

My name is Clare

I shall do my best to help you but I need some further informtaion first?

Are you actually married?

Customer: replied 9 months ago.
We have been married for 21 years.
Expert:  Clare replied 9 months ago.

What percentage division were you thinking of?

Customer: replied 9 months ago.
My husband and I would agree on a division of the equity value of the house of around 70% to me and 30% to him.I just discovered that he is addicted to gambling and that he has lost almost all our savings in the past 5 years without my knowledge. Practically all is left to save now is the house.I am a museum educator and my wages have always been less than 1/5 of my husband's. Unfortunately I had very recently decided to leave my job to pursue a PhD so, of course, I am now looking for new employment.I hope that this additional information will be helpful.
Expert:  Clare replied 9 months ago.

50% of the equity is protected by Default.

If any of your husbands creditors took action against the house then your share is automatically safe.

Any monies held in your sole name are also safe

You can sign a Declaration of Trust stating that the ownership of the property is 70/30 in your favour and this can be registered at the Land Registry - however it will not necessarily protect the extra 20% against debts that he has already accrued.

Please ask if you need further details

Customer: replied 9 months ago.
Thank you. Just a clarification, if possible:
When you say that a declaration of trust "will not necessarily protect the extra 20% against debits that he has already accrued", does this means that the extra 20% would be protected if debits were to be accrued by him after signing the declaration?
Expert:  Clare replied 9 months ago.

Yes that is correct!

Customer: replied 9 months ago.
Thank you so much, Clare. Very helpful and clear.
If I can, I have another small question: would the content of such Declaration of Trust be binding in case of future divorce, or, like the Deed of Separation, be subject to revision?
Expert:  Clare replied 9 months ago.

It will not necessarily be binding - but the Court will think carefully before going against either of those

Clare and 3 other Family Law Specialists are ready to help you

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