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Thomas
Thomas, Solicitor
Category: UK Family Law
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Experience:  BA (Hons), PgDip, Practising Solicitor
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family farm is a limited company. Farmhouse is in both our

Customer Question

family farm is a limited company. Farmhouse is in both our names & seperate from farm company. if we wanted to seperate what am i (wife) entitled to? been married for 16.5 years & both worked on farm - he as an employee/director/owner me as a non paid dogs body!?
Submitted: 5 years ago.
Category: UK Family Law
Expert:  Thomas replied 5 years ago.

Hi

Thanks for your question.

To enable me to answer your question could you please respond to the following:-

  • 1. Is the farmhouse a separate registered title to the actual farm?
  • 2. If so, is the company the registered proprietor of the registered title for the farm
  • 3. Who owns the shareholding in the farm company

Kind regards.

Tom

Thomas, Solicitor
Category: UK Family Law
Satisfied Customers: 7316
Experience: BA (Hons), PgDip, Practising Solicitor
Thomas and 3 other UK Family Law Specialists are ready to help you
Customer: replied 5 years ago.

1. presume its separate, his dad gifted it to both of us in 1994 & died in 1995

2. what do you mean registered proprieter of the registered title please?

3.my husband owns 9999 shares, his mum owns 1 share (she used to own more but she legally gave him all but 1 ages ago)

 

Expert:  Thomas replied 5 years ago.

Right. Sorry I intended my previous post to be an infomation request only (so that you were not able to click accept) and musk have clicked the wrong button.

 

 

Hi,

 

Thanks for your question.

Property is registered at the Land Registry in the form of registered titles. You say that the farmhouse is in joint names which I presume means you and your husband are joint owners of the property. If the farm itself is registered under a different title then it may be owned by the company, rather than you personally. There's no way of knowing without downloading the registered title for it.

A marriage of your length is classed as a long marriage for the purposes of determining the financial settlement of the matrimonial assets pursuant to divorce. There is a presumption that each party retains a 50% share in the assets of the marriage, this can be rebutted so that one party receives greater than 50% if (most commonly and to a greater extent) there are minor children of the marriage who are to reside with one resident parent or (to a much lesser extent) if there is a large disparity between earning capacities of the parties or where one requires more in order to cope with the financial burden of living with a health condition.

If these do not apply to you then one would not expect a court to depart far at all from 50% of the matrimonial assets. This would include half the house and half the shares, but in order to reach settlement you may decide with your husband for you to receive capital instead of the shares if he is to continue running the company.


Kind regards,


Tom

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