Owning your home, and claiming that your partner only pays “rent” towards the bills, may be a recipe for disaster...
Mr Burton found this out the hard way when his ex was awarded £33,522 by a Court in compensation, for payments she had made to the property he owned. Liden v Burton 2016 EWCA.
Cohabiting couple families are the fastest growing family type in the UK. National Statics show that cohabiting couples have more than doubled, from 1.5 million families to 3.3 million families in 2016.
If you own your own home then before a new partner moves in, it is very important to establish exactly what they will contributing to, why and how much. This may sound clinical or even off putting, but had Mr Burton taken advice and set the ground rules properly, he would not need to pay £33,522 now.
Protecting your property from claims, or agreeing the share your new partner will be entitled to if they contribute, is something that can be achieved in a Cohabitation Agreement or a Declaration of Trust. Later on, if marriage is contemplated, it is also possible for the Agreements to continue within a Pre-Nuptial.
Take advice, before its too late, or you could be heading back to see your mortgage broker sooner than you thought.
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| Peter Berry Family and Collaborative Lawyer |
Peter Berry is a Family and Collaborative Lawyer who is based at
the firm's Marlborough Office.
Please contact
peter.berry@awdrys.co.uk
for further details and if you wish
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