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Difference between revisions of "How Do I Get Out of Sharing My Assets?"
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How Do I Get Out of Sharing My Assets? (view source)
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For unmarried couples who don't qualify as spouses, the only property that is presumed to be shared is property that is jointly owned. Even if one person contributed virtually nothing to the purchase or upkeep of an asset, the simple fact that his or her name is on the title of the property or on the owner's registration means that he or she is presumed to have an ownership interest in the property. The property might not be shared equally between the parties, but in most cases each partner <span class="noglossary">will</span> get something. | For unmarried couples who don't qualify as spouses, the only property that is presumed to be shared is property that is jointly owned. Even if one person contributed virtually nothing to the purchase or upkeep of an asset, the simple fact that his or her name is on the title of the property or on the owner's registration means that he or she is presumed to have an ownership interest in the property. The property might not be shared equally between the parties, but in most cases each partner <span class="noglossary">will</span> get something. | ||
There are no such presumptions about property that only one person owns. When one partner wants to make a claim to share in an asset owned only by the other partner, the claim must be brought under the law of trusts and the law of equity. These are difficult claims to make, and almost always | There are no such presumptions about property that only one person owns. When one partner wants to make a claim to share in an asset owned only by the other partner, the claim must be brought under the law of trusts and the law of equity. These are difficult claims to make, and almost always result in an award that is far less than the what the person would get if the couple had been spouses. | ||
If you want to try to protect property from a claim brought by your partner, here are the best ways to do it: | If you want to try to protect property from a claim brought by your partner, here are the best ways to do it: | ||