Navigating divorce with multiple properties

Dividing property in a divorce

When dividing properties during a divorce, the court will consider how to provide suitable housing for each person, especially if there are children (who are the top priority). The goal is to meet everyone's needs and maintain a standard of living similar to what they had during the marriage.

At amicable, we’ll have practical discussions with you about your situation. We’ll look at how your properties are owned, their total value, and work with you to figure out how you can meet your housing needs. From there, we’ll discuss how to divide any remaining properties in a way that suits both of your individual situations.

How multiple properties affect negotiations and agreements

It’s important to discuss how your properties are owned because this will impact your settlement and how it’s put into a legal document called a consent order.

For example, properties might be in one of your names, both of your names, or shared with others. There are also different ways to legally own property, such as joint tenants or tenants in common, or through a trust.

You’ll also need to consider the value of each property and any mortgages. This helps ensure you know your options when discussing each person’s housing needs.

The legal process for divorce and financial agreements:

• One or both of you apply for a divorce
• Your divorce application is checked and ‘issued’ by court. This kickstarts a 20-week ‘reflection period’
• One or both of you can then apply for your ‘conditional order’
• Your conditional order is reviewed and approved by a judge
• After the conditional order and before the final order, you should ideally apply to the court for a financial consent order. This outlines your agreement around money and property.
• After six weeks and one day, you can apply for the final divorce order, which officially ends your marriage. It's recommended to wait until the consent order is approved before doing this.

FAQs

Can I keep the family home if my spouse owns multiple properties?

It depends on your personal situation, whether you and your spouse agree on the family home, and whether there are enough funds to rehouse both of you and any children.

How are rental properties divided in a divorce?

It’s up to you and your ex-partner to decide. You could sell the properties, transfer them to one to your ex-partner, or hold them in trust together for a period of time. There are many options, and they can be tailored to suit your agreement.

What if my spouse hides property assets?

If your spouse is dishonest, and this can be proven in court, the court can infer the existence of hidden assets. However, this process can be costly and unpredictable. It’s in everyone's best interest to be open and honest during financial disclosure. At amicable, we can’t help if one person is hiding assets and encourage both spouses to be transparent.