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change house details
pammie39
Posts: 291 Forumite
hi all
after some advise from yourselfs a few weeks ago...... i was thinking--- if the house was changed to just my name, (so my husband had NO assets), would they still look at taking it??? (this our only joint debt). and would i be kept out of the situation??????
as said in previouse posts, we have little if no equity in the house, but i keep reading about BI and i may have to buy him out of the house..
sorry, but still have concerns about this.
wish my lotto numbers came up!!!!!!! debt free and mortgage free!!!!
after some advise from yourselfs a few weeks ago...... i was thinking--- if the house was changed to just my name, (so my husband had NO assets), would they still look at taking it??? (this our only joint debt). and would i be kept out of the situation??????
as said in previouse posts, we have little if no equity in the house, but i keep reading about BI and i may have to buy him out of the house..
sorry, but still have concerns about this.
wish my lotto numbers came up!!!!!!! debt free and mortgage free!!!!
I SPOKE TO A WISE OLD MAN THE OTHER DAY.
HE TOLD ME 3 WAYS TO HAVE GOOD LUCK!!!!!!:j
FORGOTTEN IT ALREADY!!!!:rotfl::rotfl:
HE TOLD ME 3 WAYS TO HAVE GOOD LUCK!!!!!!:j
FORGOTTEN IT ALREADY!!!!:rotfl::rotfl:
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Comments
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probably not a good idea.....the receiver could still question if your husband had an interest in the house anyhow name on or not
sorryWe all die. The goal isn't to live forever, the goal is to create something that will0 -
thanx just i thought!I SPOKE TO A WISE OLD MAN THE OTHER DAY.
HE TOLD ME 3 WAYS TO HAVE GOOD LUCK!!!!!!:j
FORGOTTEN IT ALREADY!!!!:rotfl::rotfl:0 -
Buying the BI isn't the same as having to buy him out of the house, you won't have to do that just because you buy the BI.Accept your past without regret, handle your present with confidence and face your future without fear0
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As Phil and Peachy have said it wouldn't work as the OR will still deem your OH as having a BI in the house as he has contributed to the property by paying the mortgage and maintenance of the house. Also by doing this he may suspect you have something to hide and will go through his affairs much more thouraghly and ask more questions.
Also as Peachy has said buying the BI isn't the same as buying him out, it still means he will be on the deeds and is responsible for paying the mortgage and the upkeep of the house. All buying the BI means is that if you sell the house in the future you are entitled to any equity that the house has made not your OH. In practice if you are married this doesn't really matter as you will share everything. If you didn't buy the BI then if you sell the house within 3 years of going BR the OR will have 50% of the equity in the house and you will have the other 50%.
Hope that makes sense.BSCno.87The only stupid question is an unasked oneLoving life as a Kernow Hippy0 -
thanx guys
thoutht i would ask. as for the BI, i understand it more now!
cheers all !!!!!!!I SPOKE TO A WISE OLD MAN THE OTHER DAY.
HE TOLD ME 3 WAYS TO HAVE GOOD LUCK!!!!!!:j
FORGOTTEN IT ALREADY!!!!:rotfl::rotfl:0 -
You also need to note that ORs take a dim view of people who try to circumvent the process by transferring assets - which could well lead to a BRODogs have owners...my cat has slaves...0
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