Divorce Legal Advice

Divorce During A Recession March 2009

With the difficult economic climate impacting on the property market, many couples that have decided to call time on their marriage are finding it increasingly difficult to bring their marriage to an end and divide the assets when there are not enough to go around.

What are the potential problems and are there any ways around this problem? We explore what you can do if you are considering a divorce but do not think there is enough money in the pot to be able to do so.

The Property

Until now the matrimonial home has been the answer to couples that are splitting up. Most properties have risen in value so much that a sale of the matrimonial home left enough money for each person to buy or rent alternative accomodation. That is now often not the case.

In the last property downturn many courts ordered that the property be transferred to one half of the couple completely with the other person's share being payable when the market conditions improve. This way, one party stays in the matrimonial home whilst the other may well have to rent. Whilst it may not be ideal as it does not lead to a swift complete resolution, it does allow couples that have decided to separate the chance to move on and to start rebuilding their lives.

We expect to see this happening over the course of the next year or two until the property market improves.

Can We Help You?

Whether you are in London, Redhill, across Surrey or the Home Counties, we will not let geography stand in the way of providing you with a first class divorce service. Please call us on 0808 178 9002 or make a Quick Enquiry online now.

Other Relevant Articles In This Section

Divorce Legal Advice?
Divorce Legal Help?
Uncontested Divorce?

Move to the area of law that interests you by clicking on the links below or you can complete our online form.

We will provide free initial advice on all areas of law.
Please fill in all the details below and we will call you back, usually within the hour.

Legal Offers and Practical News?

Receive our legal newsletter with straightforward, practical legal hints and tips and Special Offers on our services.

This web site has been developed with valid XHTML / CSS / Site Map / Terms

Gray Hooper Holt LLP is a firm of Solicitors registered in England and Wales and Regulated by The Solicitors' Regulation Authority. It is subject to the Solicitors Code of Conduct (www.sra.org.uk)