fbpx

Trust is No Replacement for Legal Advice

6th March 2018 By Arman Khosravi

Sadly, not all relationships that get off to a good start last, and it is vital to seek legal advice before entering into any financial arrangements, even with those who are closest to you. That point was clearly made by a case in which a woman attempted to cheat her ex-partner out of his rightful share of the house they once shared.

The couple had been together for 15 years and had a child before they separated. He paid £25,000 towards the acquisition of the house. The property was, however, registered in her sole name and she denied that he had any stake in it. She argued that the payment he made was a gift rather than a loan or an investment. She also denied that he had contributed to loan repayments or had carried out and paid for substantial renovation and maintenance works.

In upholding his claim to an equitable share of the property, the First-tier Tribunal (FTT) found him to be an honest and reliable witness. By contrast, her evidence was dishonest and she had even resorted to fabricating copies of a builder’s invoices in an attempt to undermine his claim to have undertaken works himself. It was also considered to be inherently unlikely that he would have gifted her £25,000, the equivalent of a year’s salary. The extent of his share in the property will be assessed at a further hearing if agreement cannot be reached in the light of the FTT’s decision.

Source: Concious

Latest News

Award That Requires Borrowing Made Into Court Order

17th May, 2024 By

Disagreements between separating couples all too often result in litigation that substantially reduces the assets available to them, as was illustrated by a case that recently reached the High Court. At issue was whether awards made by arbitrators in financial remedy proceedings can be made into court orders even if that would require one of the parties to borrow money. The couple had previously had a relationship lasting a few years before resuming their relationship in 2015. They had two children before separating again in 2019. Following their separation, the...

Inheritance Disputes – Costs Risks Can Be Reduced

15th May, 2024 By

Arguments about what someone promised before their death can lead to significant legal costs. However, if faced with a claim against the estate, there may be steps the beneficiaries or executors can take to reduce the risks, as a recent High Court case illustrated. A man had left a farmhouse and agricultural land in Cornwall to his wife, with whom he had also jointly owned a neighbouring area of land. After his death, one of the couple's daughters and her husband claimed that he had told them he wanted them...

Share Rounding Error Does Not Prevent CGT Relief

13th May, 2024 By

There are often very specific rules that must be complied with in order to claim tax reliefs, but if a small mistake arises, the courts may be able to provide assistance. In a recent case, the First-tier Tribunal (FTT) found that an investor was entitled to Entrepreneurs' Relief on the disposal of his shares in a company, despite owning one share fewer than he needed to qualify for it. The investor had agreed to purchase 5 per cent of the shares in the company for £500,000. He wished to own...

Wife Entitled to Maintenance Until Sale of Family Home

10th May, 2024 By

When divorcing couples disagree on how assets should be divided, the courts will seek to arrive at a fair outcome for both parties. In deciding how the proceeds of sale of a former couple's home should be apportioned, the Family Court agreed with the wife that she should receive maintenance payments until the sale took place. The couple had married in 2006. Following a brief separation, they had reconciled for two years before finally separating in 2022. The husband and wife both contended that they should be entitled to about...