Signing house over to ex and getting paid the equity

khampson

Hi, I split with my partner 2 and a half years ago and at the time we agreed that she will keep the house and pay me £11000 as we were in a fixed mortgage and now the time is up, I got a letter saying that my ex wants me to sign the house over to her and that I will be entitalled to nothing, I called her and she said the money will be there when I sign over the house but I am not having it and told her I could get nothing! even though she insisted I needed to sign it to release the extra money from the remortgage!

Surely this is not the process that is required for someone to be paid off the mortgage? If I sign I am no entitalled to anything so the letter says, what needs to happen her to ensure I get my piece of the equity without putting myself in a postion that I could end up with nothing???

She needs to re-mortgage to pay me off but I need to sign the house over for her to do it??? not sure what needs to happen, any ideas?

Keith

moonrakerz

See a solicitor !

She is right - but it leaves you in a very vulnerable position until she hands over the money.............

holly_hobby

Presume your ex has arranged a re-mortgage in her own name to release the equity to you.

Having done that, you will need to provide your legal consent to have your named removed from the existing mge and property deeds - without obtaining this your ex's solicitor will be prevented from having the funds released from the new mge lender - and redeeming the existing mge - and in turn you receiving your pennies !!

If your ex's Solicitor doesn't know of the arrangement, and you want to ensure he is fully aware of the situation, you may want to make an appointment with your ex & the solicitor, to together inform him how much of the released funds should be made directly payable to you, with you both signing an agreement to confirm the same.
(Or you could contact him yourself to check the status - he may require your ex's authority to discuss the matter directly with you).

Hope this helps

Holly

khampson

Yes the letter is from her solicitor but it says if I sign then I am not entitled to equity and if I sign it it will be for no other financial gain on my part! Well I am still owed £9000 so surely it should of stated in the letter from her solicitor this, that if I sign I will get £9000 from the re-mortgage and then I will sign my rights to the property over to her.

superbabe612

I think the transfer of deeds form has space to say basically that you sell your share of the property to your ex for the sum of £x,000.
You should get your own solicitor.
Don't sign anything otherwise!

funfunder

There is a place on the release form which says how
Much you want and how its to be paid to you. They usually charge a set fee to have it transferred. But you
Need a solicitor to look after your interests. You could use a fixed fee appiontment to sort it out. But
Dont sign anything until you have your own legal advisor.