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North East Landlords – Next Meeting 23rd January

About this event There are experts on hand during the event to give you advice on the latest market updates. Speakers at this event are: Ian Donald – TAP update – Northumbrian Water Tony Fairs – Buying a property at auction – Fairs Estates Ben Beadle – Introducing the NRLA – National Residential Landlords Association. Come along and get the information, help and assistance you need for your property business. Doors open 5.30 pm. Tickets are free but spaces must be reserved here: Register Here

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Should you apply for a decree absolute before having a final financial order on divorce?

Solicitors often advise their clients not to apply for their decree absolute until all the finances of the divorce have also been settled and an order has been approved by the court.  But why? 1. In the event of remarriage If one party obtains a decree absolute and then remarries, he/she may lose some or all of their rights in any subsequent attempt to claim from their former spouse.  So, whatever else might happen, it is almost always advisable not to remarry until a financial settlement order has been signed, sealed by the court and the time to appeal the order has passed. 2. Some events cannot be transferred There are some circumstances where particular assets, for example, pensions and trust funds cannot be transferred except to a spouse. In those circumstances, it would be wise to delay applying for a decree absolute. 3….

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What are the options for dealing with the former family home on divorce?

The family home is usually the biggest and most important asset that a divorcing couple will own. This article will consider the ways in which the property can be dealt with on divorce. Selling the family home Wherever possible, the court will look to achieve a financial clean break for the parties when deciding how the matrimonial assets should be divided on divorce. This means the parties’ assets are split between so that they can both move on with their lives without any ongoing financial ties to the other party. If there is sufficient equity in the property to sufficiently rehouse both parties’ needs then the courts are likely to order the marital home to be sold and the sale proceeds to be divided in a split that meets the parties’ needs. If there is not enough money available to enable one of…

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Need to find a solution when dealing with a difficult ex on divorce?

Have you been separated for some time but have been putting off getting divorced because you cannot face the hassle you know will come from your ex when trying to finalise your divorce and financial settlement? It is time to seize the day and get things moving. New Year, fresh start – time to get the divorce finalised! I recently acted for a client in relation to their divorce financial settlement who came to me after having instructed numerous other solicitors who had unsuccessfully tried to help her reach a financial settlement with her husband, who was unrepresented and dealing with the matter himself as a litigant in person, without any legal advice. My client was understandably at her wits end after spending thousands of pounds in legal fees and seemingly getting nowhere. When she first came to me for advice my…

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What is a shareholders’ agreement and does your business need one?

It is easy to assume that nothing will go wrong in the future and hopefully nothing will. You might assume that as you have a good working relationship and trust your fellow shareholders, you don’t need a formal document that sets out your working arrangement. If a situation arises in future where there is a disagreement, although the articles will help to some extent, a well thought through shareholders’ agreement will give individual shareholders more protection. For example, if one shareholder acts dishonestly then there is normally not a lot that you can do to make them transfer their shares unless there are specific provisions contained within the documentation. If you are going into a new venture with someone, shareholders’ agreement gives you more confidence about your future relationships with them and helps you to avoid costly litigation in future. Are articles…

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Co-habitation agreements and Civil Partnerships

As of 31.12.2019, opposite sex couples are now able to enter into a Civil Partnership. Many people ask, what is the benefit of this? Until recently, a civil partnership was reserved for same-sex couples as same-sex couples were not allowed to marry. As marriage is now a possibility for both same-sex and opposite sex couples, a change was required so the same right could be given to opposite sex couples to enter into a civil partnership. Many couples in our generation do not agree with the archaic terminology and practices of marriage such as being someone’s “wife” or “husband” rather than equal partners. Many couples do not practice any religion and therefore being married in a church may be inappropriate for them. We have seen a shift in how people view older practices such as marriage in our modern society and experts…

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The importance of seeking legal advice at the earliest opportunity during a divorce or separation

Baroness Hale of Richmond, who will shortly retire, is the first female president of the Supreme Court, which is the final court of appeal in the UK. As outgoing president, she has recently taken the opportunity to highlight her concerns about access to justice following legal aid cuts and said the problem was particularly evident in family courts. Lady Hale said: “It’s unreasonable to expect a husband and wife or mother and father who are in crisis in their personal relationship to make their own arrangements without help.” She said in such family dispute cases “there may be an imbalance in resources because of the lack of access”. She added that most people require legal help at the beginning of cases and additional resources would allow many disputes to be resolved at an early stage, without the need to go to court or…

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What is an Option Agreement? 

The purchase price for the property may be agreed between the parties at the outset of the Option. Alternatively, a mechanism for calculating the final price may be inserted into the document and this may be by reference to formula (such as by reference to the market value of each plot developed on the land). Protection for the developer The Option Agreement blocks the landowner from selling the property to a third party during the Option period whilst the developer is exploring the viability of the project, thereby reducing the risk and potential cost to the developer. Once the developer has satisfied himself as to the feasibility of the proposed development, he can trigger the purchase of the property by ‘exercising’ the option. Once the Option has been exercised, it becomes an agreement to purchase making it obligatory for…

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All I want for Christmas is…a divorce

At Sweeney Miller, we see it as assisting clients by taking away some of that pressure and to help them start afresh in the New Year. Couples who divorce or separate need to try and make suitable arrangements as to where a child should live or any other special arrangements which are needed for their children. Couples also need to have arrangements in place with the wider complexities following a split such as splitting assets, the family home, or pensions. Reaching a divorce agreement Some couples are able to reach an agreement themselves, but it is sensible to have the agreement put into an order which is approved by the Court so that is can be made legally binding. This would be as effective as an order made by a judge following a full hearing. In this scenario, we…

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North East Landlords Association Meeting – Next meeting Thursday 28th November

About this event There are experts on hand during the event to give you advice on investing in commercial property, tax and mortgage updates. Speakers at this event are: Surbhi Vedhara, Partner at Sweeney Miller Law – Surbhi will provide advice on ‘Investing in Commercial Property’ which will be a guide to residential property investors wanting to make the jump to commercial property investing. Bob Evans, Head of Outsourcing at Robson Laidler – Bob will be presenting a talk around Tax Updates Paul Hampton, Owner of Approved Mortgage – Paul will be presenting a talk around Mortgage Updates Come along and get the information, help and assistance you need for your property business. Doors open 5.30 pm. Tickets are free but spaces must be reserved here: https://www.eventbrite.co.uk/e/north-east-landlords-meeting-tickets-77860868955

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Three questions every business should ask before signing a commercial lease

Signing a commercial lease is often the first big financial commitment that a business makes. It is a legally binding contractual agreement between a business tenant and a landlord, which gives the tenant the right to use the property for business operations. In return for this, the tenant pays a fee and agrees to comply with certain other obligations. There are many different types of commercial leases and each come with their own costs and responsibilities. There isn’t a ‘one size fits all’ approach to commercial leases, and each business should negotiate an agreement that best matches their business model. Before any business signs a lease agreement, they should make sure that they’ve asked the following three questions: How long do I need to pay the lease for? You must continue to pay your monthly lease agreement until the contract is ended….

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