The Trust of Lands and Appointment of Trustees Act of 1996 is a piece of legislation that allows cohabiting unmarried couples who are splitting up to resolve any dispute over property that is jointly owned. When deciding matters of ToLATA, the courts will consider:
- The intention behind the trust and why it was made
- Is this a residential property or is it let to tenants?
- Are there any children in the property and how would the trust impact on their welfare?
- The interests of the creditors of the property such as banks and mortgage companies.
If you are unmarried and own property together, or you at least plan on owning property together, we advise that you speak with us to write a Living Together Agreement for you. A Living Together Agreement will give you the assurance that your property is legally protected should your relationship breakdown and you end up splitting up. Our team of leading family solicitors are here to protect you from any unfortunate circumstances following the breakdown of your relationship. Major Family Law only specialise in family law, making us the north east’s leading experts in family law cases, whether you are married or cohabiting. We know the pain and stress of splitting up, and our friendly team will be able to represent your best interests should you be in need of assistance.
We offer competitive rates and affordable service to provide the best legal support in the North of England to anyone who needs it. If you are seeking legal assistance, please contact the Major Family Law team today. Or call our client relationship manager Helen on 01661 82 45 82 to book a free 45minute consultation today.
TOLATA can also remedy disputes over the ownership of property and whether a jointly owned property should be sold and how the property would be divided between joint owners. ToLATA applications are also not limited to those living in the property. A ToLATA application can be made by trustees and beneficiaries, such as mortgage companies or trustees in bankruptcy.
ToLATA procedures can be very complex and have to follow strict rules; the parties involved must adhere to the process as failure to do so may lead to large fines. Due to the complexity of ToLATA applications and processes, we advise that if you are living with your partner and you are unmarried, that you speak with a member of the Major Family Law team as soon as possible to arrange your free 45-minute consultation. In this call we can discuss any questions that you may have about your rights as a property owner and discuss proceeding with the application process.