For co-habiting or unmarried couples, the starting point is that property or assets are owned fully by the legal owner. This means that the presumption is that if you are the sole registered owner of a home or vehicle, for example, you own that property and its value in full.
However, you may have previously agreed that the benefit of the property should be different from the legal ownership. In certain cases a trust may be formed which gives the non-owner rights to some or all of the value.
When considering your entitlement to any assets, a number of factors must be considered:
• Who has legal ownership?
• Is there any written evidence that establishes a different beneficial interest?
• Has there been any verbal or implied agreement that establishes a different beneficial interest?
• What did each party contribute?
• Has either party suffered financially as a result of reliance on discussions or agreements?
• Have you even been engaged to be married?
If you are considering separation or have already separated, we will discuss your individual circumstances and advise you accordingly.