You may wonder what exactly is meant by the term ‘marital property’ when it comes to your residential property. Marital property concerns the UK residential property acquired by a couple during the course of their marriage. It also applies to other types of property they acquired as a couple, beginning on the date when they were lawfully married.
The timeframe that governs marital property is deemed to have ended either when the couple divorce or when they separate and begin living in different residential properties. Property research shows that due to the fact that prenuptial agreements are not legally enforceable in the UK, any such agreements are at the discretion of the court at the time of any financial hearing between couples. This comes into play when there is a dispute over ownership of property between couples or one partner claims for ancillary relief from their spouse.
Property market research shows that as prenuptial agreements aren’t enforceable, many people are deterred from marrying or entering into civil partnerships in order to protect their assets. Couples who have previously been through divorce and have lost property are even less likely to enter into a civil partnership.
With interest rates as low as they are right now, saving a nest egg for retirement with any normal savings account may seem as though your savings are standing still. The low interest rates, coupled with cheaper property prices throughout the world, mean that now is the perfect time to invest in property if you have a lump sum that isn’t growing as fast as you’d like.
So where are the best places to invest in?
As strange as it may seem, prices for property in the UK still make our own country one of the best places for property investment.
As well as the UK, property in France and property in Spain are high on many people’s list for places to search for investments. The excellent weather conditions, coupled with the laid back atmosphere of the two countries, mean that property for sale in Spain and property for sale in France always generates interest.
Property investment opportunities also exist further afield, with property in India being very affordable in an up and coming marketplace, and property in Cyprus offering culture and heritage together with a premium tourist destination.
The economy may be bad for your savings, but if you have a sizable lump sum then you shouldn’t have any problems finding investment property financing, with many property financial services offering great deals for deposits over 40%.