Solicitors for Selling on Relationship Breakdown
How to Sell Your Home If You Have a Relationship Breakdown
The matrimonial home is usually the most valuable asset jointly owned by a couple, so selling a house after circumstances such as divorce or separation in a marriage or civil partnership can be one of the most stressful things people can experience.
And when children are involved, this makes the business of selling a family property even more crucial.
Deciding what to do with the family home after a divorce or separation needs serious consideration.
Who Gets the House in a Divorce?
In a divorce, the matrimonial home is not automatically agreed upon as a 50/50 split. Deciding factors of how the property is split include who owns the property and how long you’ve been married.
If the home is in one name, it doesn’t mean that person automatically keeps the property. So, it’s important to know your rights, these can include:
- Whether there are children under 18 and which parent they’ll live with
- How old is each spouse?
- How long were you married?
- Annual earnings and responsibilities
- Who contributed what finances and assets to the marriage?
It is always beneficial if the couple can decide between them who gets to keep the home – it is much cheaper and means you wouldn’t have to appoint solicitors or take it to court.
Who Gets the House in a Divorce with Children?
Following a relationship separation, keeping a stable family environment and keeping the children at the same school is the ideal scenario.
When it comes to deciding what to do with the house following a divorce, you should consider the following options:
- Sell your home, split the money, and buy two separate homes, so the children can spend time with you both
- Keep the home with both parents remaining as owners until an agreed event, such as the children leaving home. This is known as a Mesher agreement
- One partner can buy the other partner out, allowing one parent and the children to stay in the family home
- Transfer interest in the home from one owner to the other. They will still be entitled to a share of the property once it’s sold, even if they don’t live there
- Agree to a deferred sale in court, known as a Martin Order, which entitles one partner to stay in the property for life or until they remarry
Is It Better to Sell the House before or after a Divorce?
There’s no clear answer as to which is the nest way to sell a home – it completely depends on individual circumstances.
Selling a House before Divorce
Selling the matrimonial home before divorce proceedings gives both parties time to agree on terms and set out how the house will be divided in a sale. A quick sale sets the ball rolling for a swift break, so you can cut ties and move on, and it also provides you with some spare cash.
Selling a House after Divorce
Selling a house after divorce will require both parties to be on speaking terms, with an amicable approach. A pro of a post-divorce house sale split is that it can provide more time to assess the situation and weigh up your options, rather than rushing and making costly, emotional decisions.
Protecting Your Property Rights
When going through a divorce, you must protect yourself and your right to the property.
Establishing your ‘home rights’ prevents your ex from selling, transferring, or increasing the mortgage without you knowing. If the home is registered solely in your ex’s name, protecting yourself is even more critical.
Home rights ensure neither party can be forced to leave the matrimonial home, even if it’s not in their name. It also means that if you’ve already left the home, you don’t forfeit any rights to the ownership.
The Family Law Act 1996 gives homeowners the right to:
- Stay in your home unless a court order excludes you from being there
- Be notified of any repossession action taken by your mortgage lender
- If you moved out, enable the court to allow you to return
- Pay the mortgage and avoid repossession if the person named stops making the payments
If only your ex-partner’s name is featured on the Title Deeds you can register your interest.
To check if your home is registered, and find its title number, visit the HM Land Registry For England and Wales.
Who Should Pay the Mortgage in a Divorce?
Anyone named on the mortgage is liable for the repayments. If it’s a joint mortgage, you’re both equally liable, whether you’re living at the property or not.
As soon as you know you are separating, get in touch with your mortgage lender and tell them, particularly if you think you could struggle with the repayments.
Most importantly, ensure that you can put measures into place to stop your partner from applying to increase the mortgage.
How to Remove Your Name from the Mortgage
You have a couple of options for removing your name from the mortgage after divorce:
- If you meet your mortgage lender’s criteria, you may be able to remove your name via a Transfer of Equity, switching the joint mortgage to a single mortgage
- Your ex-partner might buy you out or give you a part of the property’s value, meaning you keep a stake in the house until it is eventually sold
Reach out to Our Team of Lawyers
Here at Home Property Law, we’re a full-service conveyancing practice with teams covering every conceivable aspect of property law so if you need support with remortgaging, transferring equity, or any other conveyancing issue, we can help.
To speak to one of our expert property lawyers, you can call us at 0333 433 0275, email us at hello@homepropertylaw.co.uk, or fill in our contact form.
