Separating is a complicated process to go through. Regardless of how strong you are as a person, it is always a struggle. Unfortunately, it can be made worse with the likes property disputes and settlements. So if you are struggling through this process, we have some critical facts to know about property settlements and how it works for you.
You can apply for a settlement the moment you and your partner have decided to separate. You don’t have to move out when you do – you can still live together, and this is considered “legally separated”. However, you do have deadlines to adhere to depending on your relationship. These deadlines can inlcude:
To ensure that any settlement is fair on both parties, it has to be recorded by the state and formalized as a record. This way, it is considered “legal” by the state. There are three ways in which this settlement can be legalized:
Agreeing to these forms are vital for both persons as it guarded by the law. If someone were to break the agreement, the Court will reinforce the contract and protect the inflicted party. It also means that once the deal has been made, it cannot be disputed by one of the persons down the line. No further property settlement claims can be made against you.
If you are in the midst of a divorce or separation, you should look towards getting in touch with a solicitor. Understanding your rights can play a huge part in if you could potentially lose your property, or gain it. You might have to pay more than you expect. You shouldn’t walk into a property settlement or dispute by yourself. Make sure that you have an experienced professional helping you.