Equity Release due to split with partner

aderey

Hi I am looking for a little bit of advice, I hope that someone can help. I am in the process of splitting with my partner and she has decided to buy me out. We have agreed on the value of the house and that she needs to give me my % of the equity plus whatever we agree in value of property.

She has recently come to me with an equity release form from the building society that she wants me to sign. I think that this allows the bank to place the mortgage in her name however I am unsure about signing does this mean that the house then becomes hers? Should she give me my %equity before i sign?

Thanks Ade

SuziQ

I did this with my first husband through a solicitor,I had to sign a form stating how much I was paying him and when before the rest of the paperwork could be actioned (including deeds.)
Just be careful. She may be genuine but who knows!

0james0

I'd make sure you speak with a solictor first, even hers to confirm what is going to happen.

Like has just been said you need something in black and white to confirm what you are going to get. Otherwise you could agree to sign the house to her only for her to change her mind about how much the house is worth or how much you are getting.

Get in touch with a solicitor.