Own Home - Joint Tenants - One sided purchase

Billyballs

Thanks all for your input. Much appreciated

Exodi

Albermarle said:

A court wouldn't need to decide anything if you are amicable.
You two are free to negotiate a fair settlement between you both and would save tens of thousands in solicitors fees if you are able to.

As the previous poster says, I thought it was better to get a legal agreement on finances, as that stops the possibility of further arguments down the line about exactly what was agreed etc.?

Also many people are very poor at understanding financial matters, so it would be in their best interest to have solicitors negotiating an agreement on their behalf, even if the situation was reasonably amicable.

Having solicitors involved obviously would have costs, but does not necessarily mean a huge and expensive courtroom battle.

Of course they should get a legal agreement, sorry if I was not clear - having re-read it I can see how one could  perceive my comment as encouraging a bodged gentlemens agreement in lieu of an actual divorce! Not intended.

There is a difference between posting a signed consent order (which can be approved without a hearing if it's reasonable) and a big legal showdown where you are both asking for everything and leave it to the court to decide the split. Similarly with the use of a solicitor.

I'm not suggesting they don't formalise their divorce, sorry if that's how it came across. Rule 1 should be formalising it, the amount of horror stories you see on here from people who 'didn't get round to divorcing' 

Savvy_Sue

I believe that as there are children, you'll be directed to mediation. That can be a good place to discuss the financial split. 

Newly_retired

Mediation is the best way forward.