Are you and your partner purchasing a property together and want your individual contribution to remain your separate property in the event of separation?
Have you recently entered into a new relationship and want to ensure your assets are not converted to relationship property?
Make sure a Contracting Out Agreement is not overlooked!
Applying the provisions of the Property (Relationships) Act 1976 may not be appropriate in all circumstances. It can lead to assets being dealt with in a way the parties did not intend or in a way they may think is unfair. If you do not want the equal sharing provisions of the Act to apply, get in touch with us today.
Our team of solicitors are well versed with the provisions of the relationship property legislation and can give you advice on your circumstances.
A Contracting Out Agreement (or a “pre-nup” as they are commonly known) is where both partners can record in an agreement how they wish for their property to be divided upon separation or death.
The agreement can relate to the property they acquire together (such as purchasing their home if each partner contributes a different amount towards the purchase) or the property they had before the relationship began. It can be entered into at any time.
The Agreement is drawn up by a solicitor. Let us know what you wish to achieve and we can give you advice and prepare an Agreement to reflect this.
In order for the Agreement to meet the requirements under the Act, both partners need to be independently advised by their own solicitors.
We will provide you with sound advice and will explain how the Property (Relationships) Act affects you in simple language so you can understand your position and what you are contracting out of.
If you do not want the equal sharing provisions of the Act to apply to you, consider entering into a Contracting Out Agreement.