How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Clare Your Own Question
Clare, Family Solicitor
Category: Family Law
Satisfied Customers: 34895
Experience:  I have been a solicitor in High Street Practise since 1985 and have specialised in Family Law for the last 10 years
Type Your Family Law Question Here...
Clare is online now

Would a deed of separation protect 100% of my portion of the

This answer was rated:

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?

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 1 year ago.
We have been married for 21 years.

What percentage division were you thinking of?

Customer: replied 1 year 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.

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 1 year 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?

Yes that is correct!

Customer: replied 1 year 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?

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

Clare and other Family Law Specialists are ready to help you