For many married couples, the most significant asset involved in a divorce is the family home.
However, there is no ‘one size fits all’ method for handling property during this time.
Clarifying the following fundamental questions during this challenging period is essential:
- What happens to my house during a divorce?
- Can my ex-partner sell our house?
- How can I get the property valued during a divorce?
Keep reading our blog below for guidance on all of these areas.
What happens to my house during a divorce?
Selling a house during a divorce is a different process for each couple.
Ideally, a solicitor will help you and your ex-partner find a solution you are both comfortable with.
This might involve one spouse buying out the other, selling it and splitting the profits, or any other number of different solutions.
However, if you are not on good terms with your ex-partner, consult legal professionals and outline the circumstances.
These experts will be able to guide you on the best course of action and represent you to ensure that a fair settlement is reached.
Can my ex-partner sell our house?
Your ex-partner may threaten to sell your home, but they cannot unless it is legally sound.
Until a divorce is finalised, both spouses legally have the right to remain there. And neither has a right to change the property’s locks.
Once a divorce has been granted, the terms of the divorce (if there was a settlement) will impact what is or isn’t possible moving forward. This might include a court order to sell the house.
You should speak with your solicitor to clearly understand the terms.
If children under the age of 18 live in the property, most legal bodies will grant the remaining parent the right to live there.
However, exes will be considered, and sometimes (especially if no children are involved), selling up is the fairer option so that you can benefit from the capital.
How can I get my home valued during a divorce?
Getting your property valued during a divorce can be complicated.
The circumstances surrounding your divorce (such as how amicable it has been) will impact which steps must be taken.
As a general rule, it is recommended that any valuations you pay for be made by independent experts rather than estate agents.
(Estate agents can sometimes overestimate because they want to increase the chances you work with them.)
If the process of valuing your home goes to court, there will typically be hearings to determine how the home valuation is carried out.
If you and your ex-partner agree on the property’s value, then this can be used as the agreed valuation, and there is no dispute.
However, if you disagree, the court can order a valuation by an independent surveyor.
When getting your house valued, you may also need to consider any additional properties you own.
These might include:
- A holiday home
- Any buy-to-let properties you own
- Any properties owned by a family company
- Any house held within a pension fund
By being intelligent about how you get your house valued during a divorce, it can ensure that you get the maximum asking price.
Can I buy my ex out of a mortgage?
Yes, it is possible to buy your ex out of a mortgage.
If your ex doesn’t want to continue paying their half of the mortgage, it makes more sense for you to buy them out, especially if you continue to stay in the property.
When you buy out a partner in a mortgage, you take on their share of the mortgage while buying their share simultaneously.
Is it possible for an unmarried partner to claim the house?
Claiming the house can be more complicated if you are going through a separation but not a divorce.
An unmarried partner who is not one of the owners wouldn’t be able to claim a property outright.
However, they can claim a share of the property in some circumstances, depending on how much they contributed and for how long.
