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JGM
JGM, Solicitor
Category: Law
Satisfied Customers: 11419
Experience:  30 years as a practising solicitor.
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My husband and I are separating. We have a property business

Customer Question

Hi my husband and I are separating. We have a property business and a few other small businesses. I am a director of those companies. cAn you tell me how in Scottish law are they divided if we divorce.?
Submitted: 1 year ago.
Category: Law
Expert:  JGM replied 1 year ago.

The businesses assuming they were set up during the marriage would be treated as matrimonial property. That means their value is taken into account when dividing all matrimonial property. In Scotland it's usually an equal share. The way that the businesses are divided, if at all depends on what other property there is and the extent to which they can be divided. One party might get the house. The other the businesses. There could be pensions to offset. It's likely there would be a number of options open for negotiation. Happy to discuss further. I hope that helps. Please leave a positive rating so that I am credited for my time.

Customer: replied 1 year ago.
Thank you for the advice it has been most helpful.
Expert:  JGM replied 1 year ago.

You're welcome. Don't forget to leave a positive rating so that I am credited for my time.

Expert:  JGM replied 1 year ago.

You can't do the transfer without your parents' consent. A solicitor would charge about £400-500 plus VAT for this but charges can vary. The Land Registry charges a fee depending on the value of the your share of the property. You use AP1.