The melting pot of a divorce, a pandemic and an uncertain housing market

The family courts remain open in the midst of this pandemic and as a divorce lawyer I therefore continue to grapple with the question of how the asset pot should be divided fairly and in accordance with the law when there is so much uncertainty in the global market.  Whilst the government recently announced the “re-opening” of the property market economists and housing experts have differing views on how significant the fall in house prices will be and when the market can be expected to bounce back. 
 

Valuation of properties and timing of sale

Divorcing spouses who are already experiencing a range of emotions are extremely anxious about negotiating a financial settlement at a time of uncertainty in the housing market. The matrimonial home in many instances makes up a significant component of the asset pot to be spilt upon divorce. It is also the asset which often holds sentimental value and is seen to provide security and stability particularly for the children.

 At first instance the value of the family home and other investment properties will need to be agreed between the spouses for...

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