Going through a relationship breakdown is one of the most emotionally and practically challenging experiences in life. If you and your partner have jointly owned a home, figuring out what to do with the property can add another layer of complexity. Whether you’ve decided to sell the home or one of you is considering buying the other out, it’s important to approach the situation carefully, taking both financial and emotional factors into account.
In this blog, we’ll explore the key things you need to consider when moving home after a separation, focusing on options for handling a jointly owned property.
1. Understanding Your Options: Buy Out vs Sell the Property
When it comes to jointly owned property, you generally have two main options: buying out your ex-partner’s share or selling the property and splitting the proceeds. Each has pros and cons, and your choice will depend on your circumstances.
Buying Your Ex-Partner Out
If one person wants to stay in the home, buying out the other partner’s share might be the preferred option. This involves paying your ex-partner for their equity in the property so you can take full ownership.
Things to consider when buying out a partner:
- Valuation of the property: You’ll need a professional valuation—usually by a surveyor or estate agent—to establish a fair price for your ex-partner’s share. Some choose to get multiple valuations to agree on the value.
- Mortgage considerations: Can you afford the mortgage payments on your own? You’ll need to liaise with your lender about refinancing or adjusting the mortgage to your name only.
- Legal and financial advice: It’s crucial to consult a solicitor for legal paperwork and a financial advisor for mortgage and finance guidance to ensure a fair and lawful process.
Selling the Property
Selling the property is often the most straightforward option, with proceeds split according to your separation agreement.
Things to consider when selling:
- Market conditions: The housing market fluctuates. Consulting an estate agent can help you decide the best time to sell.
- Timeframe: Selling can take weeks or months. Agree on a timeline that works for both parties.
- Emotional impact: Selling the family home can be emotionally difficult, especially with children involved. Approach the sale with sensitivity.
2. Financial Implications: How Will the Sale or Buyout Affect Your Finances?
Whether you buy out your ex or sell, consider the financial impacts carefully:
- Capital gains tax: Your primary residence is usually exempt from capital gains tax, but this depends on your specific situation. Investment properties or second homes may incur tax.
- Split of the equity: Division depends on your agreement or court order, with possible consideration for children’s welfare.
- Mortgage payments: If you take over the mortgage, make sure you’re comfortable with the payments and any refinancing penalties.
3. Impact on Children: What’s Best for Them?
If children are involved, their wellbeing should be a priority.
- Stability: Children thrive on routine. Staying in the family home might provide continuity, but moving on might also offer a fresh start.
- Shared custody arrangements: Consider how the home fits with custody plans, including whether the living space suits everyone’s needs.
- Support for children: Communicate openly with your ex about handling the sale or buyout to minimise emotional impact on your children.
4. Legal Considerations: Seek Professional Advice
Property division during separation can be complex. You may need family law professionals to help:
- Mediation: If you disagree, mediation can help you negotiate without court intervention.
- Court Orders: If mediation fails, courts can decide on property division, including sale or buyout options.
- Joint debts: Mortgages or loans attached to the property must be addressed fairly, so legal advice is essential.
5. The Emotional Journey: Take Your Time
Dividing property is emotionally taxing, so take time to make decisions:
- Give yourself space: Don’t rush major decisions. Thoughtful choices reduce regrets.
- Support network: Rely on friends, family, or counsellors for emotional support.
Planning for the Future
Whether buying out your ex-partner or selling the property, carefully evaluate your options. Seek professional legal and financial advice and consider the emotional implications for your family. This approach will help you make informed decisions for your next chapter.
When you’re ready to move forward, our experienced Conveyancing team can assist with your house sale or purchase. Our Family Law department is here to provide expert advice and support for achieving a fair resolution. Contact us on 01908 660966 / 01604 828282 or email [email protected].
Written by Rosie Titmuss
Residential and Bespoke Property Solicitor, New Homes at Franklins Solicitors LLP
Specialises in residential sales and purchases, leasehold properties, remortgages, transfers of equity, and bespoke property transactions.
Rosie Titmuss is a Solicitor at Franklins Solicitors LLP, having joined the firm in 2025. She completed her LLB at the University of Liverpool and her LPC/LLM at the University of Law in 2024, with prior experience at local practices.
Rosie specialises in residential property matters, including sales and purchases, leasehold properties, re-mortgages, transfers of equity, and bespoke transactions.
Outside of work, Rosie is a devoted foodie and avid runner who enjoys spending time with family and friends.
