Separating from partner and worried about the risk of selling my share of our property to him in case his personal circumstances change

24th Jul 2019

I am in the process of separating and my partner wants to stay in the house. He cant raise the £105,000 needed to buy me out however he has said he would pay me £50,000 and pay the remainder of £55,000 monthly over 10 years. i have said it would have to be done legally but im still worried about the risk - how do i protect myself if say for example his personal circumstances changed if he lost hos job?

CATEGORY: Family

LOCATION: BRISTOL

1 answer
  • Ellis Hass Limited

    Hello and thank you for your enquiry.

    I would certainly recommend that you have legal protection put in place for this type of arrangement. On the basis that you and your partner are not married, then the best protection you could obtain, short of an enforceable Court order, would be a 'Separation Agreement'. A Separation Agreement would not be legally 'binding', however it would carry legal 'weight' if there was ever a problem with payments in the future. The Agreement must be prepared properly and by following very specific procedures (e.g. you and your partner having separate independent legal advice) .

    I would be happy to speak about this further with you, so that I can provide you with more more advice, specific to your situation.

    Please feel free to contact me on 0121 746 3002 or by email to greg@ehsolicitors.co.uk and I would be happy to help.

    Kind regards

    Greg Bowyer

    Associate Solicitor

    Ellis Hass & Co Solicitors

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    Ellis Hass Limited

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