The case of Parianos v Melluish highlights issues of asset ownership, in particular the family home, between a husband and wife.
In this particular instance Mr Parianos alone (whose estate was now bankrupt) held legal title to the house, notwithstanding the contribution by his widow to both the purchase and maintenance of the property.
Mrs Parianos began family law proceedings prior to her husband’s death where the court was asked to rule as to the ownership of the property following the death of Mr Parianos and the subsequent bankruptcy of his estate.
The Court accepted Mrs Parianos’ evidence of beneficial ownership and also held that the home had been held on constructive trust for more than three decades.
What is interesting to note in respect to this case, is that despite the legal ownership of a property resting with either a husband, a wife or in joint names, circumstances may arise whereby equitable interests and other factors may need to be taken into account by the Courts.
The structuring of asset ownership, coupled with estate and succession planning for individuals, couples as well as businesses is a complex area of law with a myriad of variables as well as a detailed consideration of your particular circumstances to take into account.
Havilah Legal are well placed to provide you with expert advice in these areas, working in collaboration with you to put in place the optimal structure for your requirements.
