Skilled Property Division Guidance For Unmarried Couples
Many long-term relationships do not involve a marriage certificate. More and more unmarried people in Northern Virginia choose to live together, buy homes and other assets together, and share expenses for many years without getting married. If the relationship breaks down, it can be difficult for unmarried couples to know where to turn to unravel their financial interests and protect their rights.
You may know that there is no divorce process in family court to divide property for an unmarried couple. However, dividing property at the end of a long-term relationship is no less stressful. At Duff & Kronfeld, P.C. in Fairfax, our attorneys can provide advice on how to structure acquisitions of property by unmarried couples to protect your rights. We draw on substantial experience resolving complex disputes to help individuals protect their financial stability after the breakdown of a long-term relationship.
Learn Your Property Rights Before You Divide Assets
The assets that unmarried couples acquire over the years can vary greatly. Unlike a marriage, there is no marital property for unmarried cohabitants. However, you may still have property rights, depending upon how the assets are titled and your contribution to the property. We can guide unmarried individuals through the difficult process of dividing property.
Generally, you can come to a mutual agreement to divide assets — a process that is often contentious due to the emotional strains associated with the breakdown in the relationship. Our legal team can evaluate the assets, how the property is titled and advise you about your rights under Virginia law. We help clients negotiate reasonable settlements and guide others through the mediation process to obtain the most favorable results. Some property may also be divided in civil court through a partition action.
Common assets that may be divided in a partition action include:
- A home or other real estate interest
- Shared bank and investment accounts
- Vehicles titled in both parties’ names
- Business interests
Tracing contributions to property and proving ownership in assets can be a cumbersome process. You deserve to work with a lawyer who is ready willing and able to do the hard work that is necessary to protect for financial security. To learn more about how our more than 30 years of experience can be your advantage in safeguarding your rights, send us an email now or call 703-591-7475.