This book is only available in PDF format

Author: Emily Flaszynski
Published: 21 August 2024
Pages: 29

Introduction

“All you need is love, da da da daah” sang the Beatles; people have been falling in love and out of love since the beginning of time. When a relationship ends, either through separation or death, the Property (Relationships) Act 1976 (PRA) is used to sort out property matters between partners.

This session will include an overview of the PRA touching on:

• the rules for division of assets on separation;
• contributions made to the purchase of the family home;
• the impact of the “bank of Mum & Dad” on division of assets;
• the sustenance and division of other assets;
• when to make an election and what factors to weigh up when assessing what election to make on death; and
• making your own agreement by contracting out of the PRA under s 21.

It will also cover steps to the separation process and how to “separate sensibly”. It will look at some tips for breaking the deadlock and moving parties towards resolution.

We will discuss the use of court – and whether to issue or not to issue, court proceedings. 

All these matters should be kept in mind when advising clients on their options regarding the division of property.

Content outline

• From then to now - putting the PRA into context
• Current rules for division of assets on separation
• Division of relationship property upon death
• Contracting Out Agreements - a brief overview
• Case Study