Removal from Title Deeds

thorntons

Hi Everyone

I am hoping someone might be able to help me? I am in the process of taking my ex partner off the title deeds to a house we jointly own. Unfortunately the mortgage company have gone bump and the debt passed onto a third party to administer. I have spoke with them and they will not remove his name off the mortgage unless the debt is paid but I am not in a position to remortgage yet. I have spoken with a Solicitor and they have advised me that if we complete a TR1 form this will remove him from the title deeds and confirm that he relinquishes their ownership / responsibility on the house for an agreed sum.

He has not lived in the house for the past two years and has not contributed to any mortgage payments since he left but it is only now that I can afford to finalise all this and remove him from the property.

Even though the Solicitor has advised this is all ok I guess I am just being over cautious and just worried that when I come to sell the house if I get more than we thought he might be able to come back to claim some of the equity???

Any advice would be greatly appreciated?

Thanks
S

Raspberry_Swirl

I've just been though this, but my mortgage lender hadn't gone bust so it was just the usual form-filling and then paying the solicitor a lot of money to process it all!

What reason have they given for not removing his name? If you can prove that you've been solely paying the mortgage for the last 2 years then surely they shouldn't require you to pay the debt in full?

Hope you get something sorted

GuidoT

Before you can take your ex off the deeds your lender must consent. It is often a real problem sometimes with no obvious immediate solution.

You are right to be concerned, as you are paying all the mortgage and you other half may end up with half the equity split on selling.

Your alternatives may not be very attractive, i)selling now before you make further payments, ii) re-mortgaging but you say you cannot do that although I am not sure why, iii) your solicitor should be able to draw up a document between you and your ex (but your ex will want money for this I presume) pending his removal, but such would not be a good as the certainty of having him removed.

thorntons

Thanks for your responses ...

The company administering the debt have just said that it is just a debt and not a 'mortgage' as such and that the house and the debt are two different things. The Solicitor is in the process of contacting the company to confirm regarding this but I am still awaiting a response.

Myself and my new partner are looking to purchase a new property so I am not in a position to re-mortgage and ideally do not want to do this if I can avoid it as we are hoping to sell the house relatively quickly.

I am concerned as I have spent alot of money renovating the house with new windows etc plus I put £60k deposit when we bought it with no contribution from him and now it seems that I wont get any of that back from the sale and obviously he is entitled to half the equity. I have agreed to pay him a sum upon him signing but still worried that there might be a loop hole that will give him an opportunity to claim half the money even though I have paid him and believe him to have no claim on the house???

Thrugelmir

thorntons wrote: »

The company administering the debt have just said that it is just a debt and not a 'mortgage' as such and that the house and the debt are two different things.

A mortgage is the legal term for the charge placed on a property to secure a debt. You currently have a loan outstanding on your property.

I have agreed to pay him a sum upon him signing but still worried that there might be a loop hole that will give him an opportunity to claim half the money even though I have paid him and believe him to have no claim on the house???

Make payment on sale of the property.