Transferring Beneficial Interest Paperwork. Help!!

mtysocks

Hi All

I went bankrupt a while ago, and as the house was in negative equity I was allowed to buy back the BI, Therefore, it was my wife that paid up so that it could be in her name.

We have just received some documents that are very confusing!

We have received a draft deed of transfer. I'm assuming my wife signs it with an independent witness and sends it back!

However, the bit that has confused me is on the letter, when it says:

1. Obtain the consent oif the mortgagees to the transfer.
Who is this - is it me? or Norther Rock as house does have a mortgage. Also the house has an additional secured loan as well with BArclays. HOPw do I obtrain their consent?

2. Complete and submit a Stamp Duty Land Tax return within days of completion. Im assuming as she has bought interest for £1 (house is only valued at £60k) she wouldnt have to pay anything anyway.

3. Register the transfer at the Land Registry. How do I do that?

All help will be very much appreciated.

I would also like to hear from people that have gone through this and their experiences as well.

sieve

Not sure about 2 and 3 (think the OR will take care of 3) but for 1, you are the mortgagee (if it's your name on the mortgage). So yes you would be the one giving consent.

custard_cream_3

So this is paperwork received after the cheque for the BI was cashed?

In that case, I've got the same coming to me.

mtysocks

Hi Thank you for the replies so far.

1. Yes this the paperwork you get from the OR solicitors after they cash you rmoney.

2. This might seems stupid, but how do I give my permission to my wife to have tha BI as I am the mortgagee? DO I have to write a letter saying this, and if so to who? Is it to Northern Rock or to their solicitors. Also, how would i word it?

custard_cream_3

I don't think it's anything to do with Northern Rock, so I wouldn't worry about them.

I imagine by sending the forms back, you'll have implied your consent for her to have the BI, and being your wife, she hopefully won't want that in writing. perhaps if it were a friend, that mght be different?