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ukfamilysolicitor
ukfamilysolicitor, Solicitor
Category: Property Law
Satisfied Customers: 1011
Experience:  Qualified Solicitor Currently specialising in Family. Also experienced in Corporate, Employment, Civil Litigation, Debt Recovery
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My husband and I are living seperately whilst he attempts to

Customer Question

My husband and I are living seperately whilst he attempts to rehabilitate from alcholism. We do not want to divorce, but we would like a contract whereby he rescinds all rights to the family home even if his name is ***** ***** title deeds or if we do decide to seperate permamently. Can we do this with a Deed of Trust or is there any other way to do this? My parents have sold their house and moved in with me and they want to protect the financial assistance they have provided to help us get through this difficult time. I also think I need a Deed of Trust with my parents to reassure them that they will always be able to live in the home with me, regardless of whether my husband returns or not.
Submitted: 1 year ago.
Category: Property Law
Expert:  ukfamilysolicitor replied 1 year ago.

Hello

Welcome to Just Answer

I am a Solicitor and will assist you.

Please may I ask:

- what is the current equity in the family home?

- how long have you been married?

- any minor children?

- any other matrimonial assets?

- how much are your parents going to contribute?

Kind Regards

Caroline

Customer: replied 1 year ago.
We've been married for 20 years and have 2 children aged 16 and 12. There is around £400k equity in the house. My parents aren't contributing directly to the house. They are paying off my debts so that I can afford to take over the mortgage by myself. We have no other assets.
Expert:  ukfamilysolicitor replied 1 year ago.

Hello

Thank you for your response.

The reality is that the only way to get a full and final settlement in respect of the matrimonial finances would be if you are your husband were to divorce and an order was made by a family court Judge either by Order of the Court or by consent order approved a Judge to confirm the position in respect of the matrimonial finances.

I note that divorce is not contemplated at this time.

It is possible to create a Deed of Trust in respect of any direct contributions that your parents make. It is also possible to agree a separation agreement with your husband to confirm what the current agreement is.

You do have to be aware that a future family court Judge has a very wide discretion and they are able to make an order that is not in line with the separation agreement or any deed of trust.

My worry is that there is significant equity in your property.

In reality with such a long marriage and no other matrimonial assets that the starting point for division of assets is one of equality - that being shared equally.

As you are likely to be the carer of 2 minor children - you should be looking around 10 - 20% higher share than equality for you.

As there is significant equity - if your husband later issued an application for a financial order - the court would entertain this and have a wide discretion in respect of any earlier agreement that has been reached. The court would likely think that it was unfair that your husband has no share in respect of the matrimonial home especially when there are no other matrimonial assets.

I am not saying that a deed of trust in respect of any contribution made by your parents is not useful - it is and does record the position in respect of any contribution they have made. The same goes for a separation agreement with your husband. Just be very mindful that if your husband was to seek a financial order - then this would be entertained by the courts.

Let me know if I can help you further

Kind Regards

Caroline

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