Protecting property portfolios in divorce can be particularly complex. We can help you navigate the intricacies of protecting property portfolios during divorce and provide guidance on how to secure your investments.
Understanding Property Portfolios in Divorce
Property portfolios refer to collections of investments, including residential homes, rental properties, commercial buildings, and land. These assets can be valuable in terms of financial worth and future income generation potential.
Dividing Property Portfolios
Dividing property portfolios in a divorce involves several elements:
Valuation: We need to determine the current market value of each property. Properties may have appreciated or depreciated since purchase depending on the location, size and the housing market. This can either be done by obtaining market appraisals from your local estate agent, or by instructing a RICS Chartered Surveyor.
Ownership Structure: The way properties are legally and beneficially owned, whether jointly, individually, or through a legal entity, and how they came to be owned by one party e.g. through inheritance can impact on how they are treated in divorce. We work closely with our property team to ensure that ownership of the properties is identified accurately.
Mortgage Obligations: The division of property assets often involves addressing mortgage obligations and deciding who will be responsible for the loans associated with each property, including obtaining the consent of the mortgagee.
Tax Consequences: The transfer or sale of property portfolios on divorce can often lead to complex tax implications. We work collaboratively with your trusted advisors including accountants and tax advisors to ensure that any adverse tax consequences are identified and taken into account in the financial settlement.
Strategies for Protecting Property Portfolios
To safeguard your property portfolios during divorce, it is important to seek the advice of a experienced family lawyer who understands the intricacies of property division in divorce cases. Denney King can provide legal guidance and ensure your rights and interests are protected. We offer creative solutions to prioritise your long term goals, for example, in some cases, you may choose to offset the value of a property portfolio against other marital assets to achieve a fair settlement.