When matrimonial financial proceedings start, the Court immediatly orders that the marital assets are in the control of the court. This stops you and your spouse from disposing of marital property. For example emptying a joint bank account or giving away marital property out of spite. This power gives the court the right to set these transactions aside if need be. Especially so if something is sold at an undervalue out of bad feeling.
What to do
So if you have been considering upgrading to a better car or taking money from an account which is yours but in joint names, you should do that before you start the case. We are of course not condoning draining a joint bank account or selling a property that does not belong to you but if it is yours then it is best to get this done before filing for your financial proceedings case.
For example if you have long been planning to upgrade that car, or getting rid of a buy to let property, or complete a sale that has been ongoing for some time. Do it now before your proceedings start. Or if you are due to come into some inheritance money, then tell the executor not to give it to you just yet. After all you don’t want your ex trying to claim half of it!
If you would like to speak to our Family team, please call 01582 494970. Or fill in the Contact Form , providing your personal details and an outline of your case, and we will contact you.
We offer advice on if you would qualify for legal aid and competitive private fee paying rates for those who do not.
Please note that the advice given in this Guide is general, basic advice only. The law involving property is complex and you should seek legal advice regarding such issues.