Dealing with a breakup is hard for anyone- whether you’ve been together for weeks, months, or years. However, what may make the breakup significantly harder is if you have to deal with shared property, as this could factor into another point of conflict as you try and resolve your emotional issues and the breakup itself. For many people, walking away from a huge investment such as property is simply not an option, as the financial repercussions are too much. Unfortunately, you may have to stay put at your current address while you work out a plan B for your living and financial arrangements, which will ultimately take its toll on your emotions and perhaps financial situation. Here at We Buy Any House we have compiled our top tips on how to deal with separation when you share a property.
Establish Boundaries:
So, your property has now gone from being your own private, love bubble to being a space that is uncomfortable and full of heightened emotions. The first step is to establish boundaries in terms of property. Depending on how long it is going to be until you can part ways, you need to ensure that you set up a temporary living space in your home that works for you both. Most importantly is the sleeping arrangements, as continuing to share a bed isn’t the best idea. If your property is big enough, you may be able to have separate living spaces completely- which will work out perfectly.
Discuss Finances:
If you don’t want finances to be an added stress on top of the breakup itself, you will more than likely want to sit down and attempt to have a mature conversation (which can be mediated if necessary) about your finances, and how you are going to accommodate for that moving forward. From utility bills, all the way down to the food shop, council tax and petrol money (if you share a car), it’s a good idea to talk about how you are going to approach these obstacles.
Set A Move Out Date:
Ideally, you don’t want this situation to be an ongoing thing. And while you may not be able to move out as soon as you would like to, it’s a good idea to have an end date in sight, so you can slowly move towards that. Additionally, if you set a moving out date early on, if gives the entire situation clarity, and not only removes the awkwardness of the situation but gets rid of the notion of a rekindling romance.
Opting for a Separation Agreement:
If you are past the point of discussing things amicably, or you want written consent with a witness, then you can opt to undertake a separation agreement. This will set out how you wish to sort out issues such as property, money, and childcare arrangements. It’s worthwhile consulting a solicitor when drawing up the agreement, as you will need to work out in advance how to cover any legal fees.
Housing Rights:
If the separation goes through the courts, then the court has the right to either give you or your partner custody of the home and will declare your rights. These can include the right to stay in your home, the right to come and collect personal belongings or, the right to stop your new partner from coming into the home. Depending on the situation, such as if there has been the involvement of domestic abuse, these may change.
Rights in Rented Property:
Depending on whether one of you is the tenant, or if it’s a shared tenancy, this will impact on your rights. If only one of you is the sole tenant, then the other person can be asked to leave unless a court grants the right for your partner to stay. If there are children involved, this may last up to six months. If you share the tenancy, then you have equal rights to the property, unless there has been violence or other mitigating circumstances.
Mortgage Payments:
Deciding to undertake a joint mortgage with another person is a huge investment. And if the relationship doesn’t work out, you may be overwhelmed with feelings of impending doom. However, there is always a solution to the problem. If the mortgage is in joint names, then both people are jointly responsible for the mortgage payments- this is known as joint and several liabilities. If one person decides to stop paying the mortgage, then the lender can ask the other person to pay the full amount.
This article was written by a quick house sale company We Buy Any House. If you’re wondering “how can I sell my house fast?”, head to the We Buy Any House website for more information relating to all property related inquiries.