Protect Your Assets
Due to high property prices, and the fact young couples are finding it difficult if not impossible to get on the housing ladder, many parents or prospective in-laws help out by gifting, or lending young couples the deposit for their first property.
However, more and more are making this generous support dependent on the couple entering into a prenup (where the couple are marrying) or cohabitation agreement (where they are living together). Such an agreement may help to protect the gift on the couple’s relationship breaking down.
This is obviously sensible, but great care must be taken to ensure any such agreement is enforceable. This is something our experts can help you with, so whether you’re considering moving in with your partner, or a parent proposing to help out with a deposit, call us on 01823 462500.