Buying a house is a big commitment. It’s an even bigger commitment when you buy with someone else. Investing in a property with another person is a fantastic way to invest in your future and build a life together. But what happens when the relationship comes to an end?
A relationship breakdown is difficult, but it can be even more challenging when property is involved. How do you ensure that each of you gets a fair share of the property? How can you resolve complicated ownership issues?
It all boils down to the Trusts of Land and Appointment of Trustees Act 1996 (often abbreviated to ToLATA). This is a complex area of law and filing a ToLATA claim can help ensure you get access to what’s rightly yours.
Learn more about how to handle a ToLATA claim in our helpful guide.
The complications of separating from a cohabiting partner
Separating from a partner when you’re unmarried raises a range of complications. While you might not have to suffer the pain of divorce, things can get tricky when you have shared assets, such as a property.
While you’d hope that most separations are amicable and straightforward, this isn’t always the case. Couples can argue over who owns what in the home, who should live there after the separation and whether the property should be sold.
Reaching a legal agreement can save both parties further distress and pain, avoiding the lengthy and costly court process that can delay the beginning of your next chapter.
What can the Trusts of Land and Appointment of Trustees Act 1996 do?
The Trusts of Land and Appointment of Trustees Act 1996 allows courts some authority to resolve disputes between couples over land or property. ToLATA claims can help by:
– Forcing the sale of a property
– Determine the share each party has in the property.
– If an ex-partner refuses to leave the family home, the court can help someone move back into the property.
– If a parent or grandparent has a financial interest in the property, the courts can help them recover this.
Depending on the claim, evidence will need to be provided to the courts to support the application. From financial statements and payment plans to any contracts and agreements, there are many types of evidence that can be used to assist a claim. Witness statements may also be considered, especially in circumstances where there are children under 18 living at the property.
Are there limitations to ToLATA?
ToLATA has some limitations in that while it can be used for courts to determine ownership shares, it does not grant courts the right to adjust these shares.
A ToLATA application is usually made once other avenues have been exhausted, with mediation and settlements often taking place successfully before ToLATA is needed.
Navigating Family Law with Beyond Legal
Dealing with a separation is hard, but you don’t have to do it alone. At Beyond Legal, we are experts at dealing with financial disputes between unmarried couples, helping to navigate the challenges with advice and support. We negotiate on your behalf for the best possible outcome for you, helping you get ready for your next step.
Get a free consultation for family law services in Newton Abbot and Tiverton with Beyond Legal today.