The cost of divorce in the UK is quite high. In fact, many people joke that divorce is so unaffordable these days that no one dares to get married. In today’s article, we look at a high-profile celebrity case involving the division of a family home, as well as what happens to a family home in the event of a divorce.
While rich celebrities might not receive the pity of the public when it comes to headline divorces, they can often be financially crippling for those involved. Recently, the world-famous British TV host, Richard Hammond, of Top Gear fame announced on social media that he was going through a painful divorce with his wife Mindy.
After their marriage, the couple moved to Weston-under-Penyard, Herefordshire, where they live in the luxurious Bolete Castle, an estate worth £7million.
The castle is a Grade II listed building in the UK and was built in the 18th century. It has six bedrooms, a swimming pool and 20 acres of land.
After a long marriage, which deteriorated over time, Richard Hammond moved out and was forced to rent a house nearby. Now, Mindy has also stated that she will propose to keep the family home in the divorce settlement.
How it will be divided in the end depends on how they reach an agreement.
How is the house divided during a divorce in the UK?
Many people will probably encounter the situation described in this article when they are getting divorced. The family home is an important asset for both parties to meet their housing needs in the future. But who gets to keep the house? You have many options when deciding how to divide the family home, including:
- Buy out your spouse’s share of the property;
- Selling the house (this also depends on the specific circumstances of the loan);
- Put off selling until your children are grown (if you have any, until they are 18).
- Depending on the value of the other assets, it may also be possible to use one person’s equity in the home to offset another asset. For example, perhaps one of you keeps the family home while the other keeps a pension fund or holiday home.
There are many reasons why one party may want to keep the property outright, but the extent to which this is possible depends entirely on the individual case. In England and Wales, there is no fixed formula for asset division, and the courts have wide discretion to make orders based on the specific circumstances of each case.
Generally speaking, the division of assets (including the family home) is usually based on what is considered fair and reasonable in each case, for example, taking into account factors such as the duration of the marriage, the financial contribution of each spouse, and the needs of the children involved.
Assets acquired will be considered marital property
In general, there are other assets that need to be considered in any divorce financial settlement, such as inherited property, buy-to-let property, or holiday homes. Therefore, you must disclose any property that you own, own in your own name, or own jointly with your spouse. You must also disclose interests in assets that you own jointly with people outside of your marriage. Once both parties have made full and candid disclosures, your solicitor will let you know which assets will be included in the division.
Generally speaking, any assets you acquire or accumulate during your marriage will be considered “marital property” and considered for division. If a property is jointly owned by someone other than you and your spouse, only your share of that asset will be considered. A house that you and your spouse use as your primary residence will definitely be considered “marital property” because it is the family home, regardless of who paid the deposit or mortgage.
If you have a prenuptial agreement, it is important to give this document to your solicitor. Generally, we will check that it covers all property and that no significant changes have occurred since the prenuptial agreement was signed. If there is no prenuptial agreement, our family law solicitors will advise clients on the composition of their property.
Who can stay in the home during a divorce?
If you are a legal co-owner of the property, both parties have the right to continue to live in the property during the divorce, until the court approves a financial order. This means that you cannot be forced to move out of the property unless there is a court order (or, in the case of domestic violence allegations, police bail conditions restricting you to a specified distance from the property; or you voluntarily want to move out).
In many cases, the parent who is the primary caregiver of the child has the right to live in the family home after a divorce, so who gets the house is closely tied to child custody.
How to divide the house in a divorce with children?
There is no general rule as to who gets to keep the family home. The court must consider several factors when deciding this, including:
- children’s needs and arrangements;
- The couple’s age, health, and earning ability;
- assets and available resources;
- what each spouse needs;
- the length of the marriage and the contributions made by each spouse;
- The standard of living of each spouse; and
- Any negative behaviour would be unfair if ignored by the court.
If I move out of my home, will I lose my rights?
No. If you decide you no longer want to live in your previous home, you can rest assured that moving out now will not deprive you of your rights to the property. In some cases, it may be a wise choice to protect your mental health. It may even benefit relationships in the long run, especially when children are involved, as you can protect them from witnessing your parents’ arguments.
If you leave your home, we recommend that you take your personal belongings and financial records with you. Although you still have a legal interest in the home, we recommend that you do not return without notice. If you must return for any reason, it is best to make arrangements with your spouse. If you have experienced domestic violence, you may need to move out to prevent further harm. In this case, you should seek urgent legal advice as you may be able to get a court order.
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