Need Some assitance in how to sign house over to my ex

Bettie

I don't know if my situation may help you

I never earned enough to have a mortgage when I split with my partner 17 years ago. Instead I saw a solicitor who made a transfer of equity document for me which basically said I was responsible for the mortgage and if I defaulted no one could chase my ex for the money. It does mean that his name is still on the deeds and also on the mortgage but there is no way he can get anything and if he should get himself in debt then no third party can get " his share" of my house. I should have applied for a mortgage later on when I worked full time but this system was working ok plus the mortgage company would have made me pay for another transfer of equity as I didn't go through them the first time. Next year I finish paying the mortgage anyway then I will change the deeds to my name alone as I can't do that at present because I have to have the building society's permission ( which they won't give until I transfer the equity through them)

teekay84

Thank you Bettie. Is a transfer of equity legally binding? also this may hamper my attempts to get a mortgage in the future if she hasnt paid it off by the time i am looking to buy,

Bettie

It was an assignment made by a solicitor and it has stood up in court ( he got into debt recently and they tried chasing for money when they realised his name was on the deeds)
It was a last resort for me - I was about to lose the house so couldn't find any other way, I should have taken his name off years ago but didn't want to rock the boat or spend more money and I guess it would stop you getting a mortgage in future but if there was no other way it would be worth considering if only to tide you over for a few years until she could get more of a mortgage.
I think a court could turn the assignment over if it was seen to be done to avoid paying debts such as in a bankruptcy case, then I think it is 7 years, after that it would stand.