References to divorce also apply to dissolution of a civil partnership unless otherwise stated.
When a couple divorces they go through the process of disclosing their assets in order to ascertain who keeps what. This will include assets in their sole names, joint names with each other and joint names with other people. This means the asset pool can include properties, businesses, bank accounts and other assets that a third party has an interest in. The court has the power to make orders in relation to those assets for example to sell a property or for one party to transfer shares in a company to the other.
If you have a third party interest in assets subject to financial remedy proceedings you may need to protect your interest. If you have been unable to do so by agreement, the next step is to consider intervening in the proceedings. One, or both, of the parties will want to keep the asset pool as large as possible and could therefore defend your claim. If that happens, contested proceedings may be required to resolve the dispute.