Remarrying & property

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stuomac88
stuomac88 Posts: 15 Forumite
in Marriage, relationships & families
Hi all

I had my first marriage annulled in 2014, and my ex agreed to a consent order in which she relinquished interest in the home which remains mortgaged in joint names, but is paid solely by myself.

I am remarrying this year, and my question relates to that. I want to sort my will once married and want to leave everything to my new wife. Does it matter that my exes name is still on the mortgage or because I have the consent order can I just state that the property passes to my new wife in the event of my death?

Cheers guys
Stu

Comments

  • Guest101
    Guest101 Posts: 15,764 Forumite
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    It's not that simple, how do you own the property?


    Whilst the consent order may be binding, you are using your exes credit to get a mortgage - if she gets legal advice you could come unstuck.


    Best bet is to remortgage asap.
  • stuomac88
    stuomac88 Posts: 15 Forumite
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    Hi there

    Thanks for your reply.

    The house is mortgaged, she has relinquished all interest in the property via consent order.

    Cheers
    Stu
  • silvercar
    silvercar Posts: 46,962 Ambassador
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    Ex could force the sale of the property to get her name off the mortgage. Otherwise you get the situation where wife 2 owns the equity in the property, but wife 1 is resposnsible for paying a mortgage for which she gets no benefit.
    I'm a Forum Ambassador on The Coronavirus Boards as well as the housing, mortgages and student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.
  • anna_1977
    anna_1977 Posts: 862 Forumite
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    Is there anyway you can re-mortgage in just your name or with new wife just to get ex off there.
  • stuomac88
    stuomac88 Posts: 15 Forumite
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    At the moment no prospect of remortgaging due to financial situation.

    However the consent order only says I need to use best endeavours to have her removed from mortgage which I have done and continue to do. It also indemnifies her...

    Cheers
    Stu
  • antrobus
    antrobus Posts: 17,386 Forumite
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    stuomac88 wrote: »
    ... Does it matter that my exes name is still on the mortgage or because I have the consent order can I just state that the property passes to my new wife in the event of my death?...

    No. The consent order grants you the property. You can do what you like with it.

    In the circumstances, you might want to approach your mortgage lender with a view to removing your first wife from the mortgage and replacing her with the second wife.
    silvercar wrote: »
    Ex could force the sale of the property to get her name off the mortgage. ...

    There was a consent order. Normally consent orders require Party A to make their "best endeavours" to remove Party B from the mortgage. So long as Party A has indeed made their "best endeavours" to do so, then it is unlikely that any court would force a sale.
    silvercar wrote: »
    ..Otherwise you get the situation where wife 2 owns the equity in the property, but wife 1 is resposnsible for paying a mortgage for which she gets no benefit.

    And? Wife 1 has indeed been 'responsible' for paying a mortgage for which she gets no benefit. That's what she agreed to in the consent order.
  • antrobus
    antrobus Posts: 17,386 Forumite
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    stuomac88 wrote: »
    ...However the consent order only says I need to use best endeavours to have her removed from mortgage which I have done and continue to do. It also indemnifies her...

    Standard legal boilerplate.

    It's down to the lender whether or not they wish to release your first wife from the mortgage. All you can do is ask, and take what steps are required (if at all possible) to meet whatever conditions the lender specifies.
  • stuomac88
    stuomac88 Posts: 15 Forumite
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    Thanks for that, makes more sense to me.

    Thanks everyone for your comments.

    Cheers again
    Stu
  • Guest101
    Guest101 Posts: 15,764 Forumite
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    stuomac88 wrote: »
    Hi there

    Thanks for your reply.

    The house is mortgaged, she has relinquished all interest in the property via consent order.

    Cheers
    Stu



    That literally didn't address what I said at all.


    You are using your exes credit to house yourself and your new wife. If she wants her name off the mortgage you will either need to sell or remortgage - why don't you do that now?


    (and save the hassle later of her claiming the consent order is invalid (they often are) and claiming half the house)
  • silvercar
    silvercar Posts: 46,962 Ambassador
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    antrobus wrote: »
    No. The consent order grants you the property. You can do what you like with it.

    In the circumstances, you might want to approach your mortgage lender with a view to removing your first wife from the mortgage and replacing her with the second wife.



    There was a consent order. Normally consent orders require Party A to make their "best endeavours" to remove Party B from the mortgage. So long as Party A has indeed made their "best endeavours" to do so, then it is unlikely that any court would force a sale.



    And? Wife 1 has indeed been 'responsible' for paying a mortgage for which she gets no benefit. That's what she agreed to in the consent order.

    I understand that, but my comment below was made in the unfortunate event of if you passed away:
    silvercar wrote: »
    Ex could force the sale of the property to get her name off the mortgage. Otherwise you get the situation where wife 2 owns the equity in the property, but wife 1 is resposnsible for paying a mortgage for which she gets no benefit.

    I know it's morbid, but having an ex-wife responsible for a mortgage where the new wife wants to remain, could prove difficult. New wife could be forced to sell up.
    I'm a Forum Ambassador on The Coronavirus Boards as well as the housing, mortgages and student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.
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