Why is Family Law Relevant to Conveyancing?
Buying a home together is a really fun and exciting time, especially if it’s your first time. Sometimes the excitement can become overwhelming and you may overlook certain legal aspects including what might happen if you were to separate or if one of you passed away. Of course, this is something that you could easily overlook as it is not something you would anticipate amongst new furniture, building insurances, conveyancing processes etc. This is where Family Law can come in handy and guide you on the different aspects of legal protection for these types of circumstances.
Couples who are buying property to live together might benefit from setting out their financial responsibilities to each other and depending on their status and type of relationship there are different types of written agreement to record this. These can set out how they plan to manage their money and day to day arrangements for the household, as well as setting out what they would want to do in the event that they should decide to separate later.
What has entering a written agreement got to do with buying a home? I hear you ask...
When you are purchasing a property it’s very likely that it’s going to be the biggest investment you will make in your lifetime and therefore extremely important to ensure your investment is protected in any circumstance. Therefore, you may want to consider speaking with a Family Lawyer and discussing your options with agreements such as pre-nuptial agreements, cohabitation agreements and declarations of trust. These agreements do not have to be entered into but at the same time there is no harm in discussing your options with a professional.
I learnt a lot more about this when I met with both Laura Sherlock and Claire Tennant who have opened the new Family Law Department for Emin Read Solicitors. They have worked within Family Law for several years building their knowledge within the sector and offer a professional and friendly service.