Dividing assets

It is always best to try and find a way of reaching an agreement between you about how to sort out your assets. Getting lawyers involved could be very expensive and could mean spending more money on them than the value of the actual items in question.

If you are unable to sort things out without the help of someone else, it is worth considering a mediation service.

 

Not married or not civil partnered

The following general rules apply:

1) If you alone paid for something, it belongs to you.
2) If you bought something together, without distinguishing shares, you own it jointly.
3) If you bought something and your contributions were unequal then your share in it will be equal to the contribution you made.

It is always better to have a written record of ownership.

 

What you do or say makes a difference

However, what you do or say to each other at different times can change the above 'rules'. For example, if you buy something but say to your partner 'this is yours' or 'this belongs to both of us' a court can later regard you as having created 'a trust' and can hold you to that promise. Or you may be regarded as having created a trust by implication - this means that what you had said or done led to the conclusion that something you bought is shared or given to your partner.


   
www.marriedornot.org.uk


The Nuffield Foundation and the Department for Constitutional Affairs supported One Plus One's development of material for married or not. The legal information on this site was checked by Sarah Forster, with assistance from Diane McBrinn.

Disclaimer: This website is intended to offer general non-specific guidance in outline form. Those accessing it should not rely solely on the information or advice it contains.