Disclosing the family home in Form E

disclosure of the family home in form e

Form E necessitates a comprehensive financial disclosure, detailing an individual’s income, assets, and liabilities, along with their financial needs and obligations, including those of any children from the marriage. This is essential so that the court can decide if the agreement reflects both parties’ financial requirements.

Section 2.1 of Part 1 of the Form E requires details of the family home. This is the last home you and your ex-spouse lived in, as long as it remains unsold. You will need to provide a copy of a valuation of the property obtained within the last six months and a recent statement for any mortgages confirming the outstanding amount.

You will also need to supply:

• The Land Registry title number if your property is registered with the Land Registry;
• Details of who owns the property and the extent of your interest in it;
• The penalty amount that will be charged by the mortgage company should you pay back the mortgage early; and
• The estimated costs of the sale of the property  (which is usually 2-3% of the value of the property).

In addition to the family home, you will also need to disclose all other properties, land or buildings you own, including holiday homes and rental properties.

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Valuing the family home

When completing the Form E, you will also need to provide a valuation of your family home, preferably from a few sources and in the last 6 months, and the average of the valuations make up the value used on the form.

The usual type of expert instructed in relation to property is a chartered surveyor. However, when preparing Forms E, the parties can contact local estate agents to obtain informal views regarding the value of the property, and estate agents should be asked to provide a written opinion as to the ‘open market value’ of the property. In simpler cases, opinions from several estate agents may negate the need for a formal valuation.

why is it important to provide disclosure of the family home?

In many divorces, the marital home often represents both financial and emotional value. Indeed, it is often the couple’s most financially valuable asset, where most of the wealth is tied up. Providing accurate disclosure of the value of the family home is essential so that the court can determine a fair division of the assets.

The marital home has a unique position under English and Welsh family law. Even if the property is bought by one spouse prior to the marriage, if the couple live there together and treat it as their family home, it will generally be considered matrimonial property. This means it will be subject to the court’s principle of equal sharing. Other property, such as rental and investment properties, are not afforded this special treatment. Typically, property acquired by one party prior to the marriage will be deemed non-matrimonial and kept separate from ‘the matrimonial pot’.

With the marital home, the family court is less concerned about who paid what, but rather how the parties’ needs can be met and how to achieve a fair financial settlement.