Do I need to put a charge on my old house?

Nosamp

Can anyone help me with this please?

(The story so far…..)
I separated from my ex-wife just over 5 years ago.
We get on well and are able to communicate fully without arguing (mostly).
In our divorce the equity on the marital house (that I had owned for a few years before we met and had about 80-100K equity in it, she had a car….. ) would be split 45% / 55% in her favour (we have a son who is 7).

She has just agreed to borrow some more money (I believe she is earning more than I am at the moment) and take me off of the mortgage so I am able to pay off my debts and start to be able to afford stuff again.

I will receive 25K of the estimated 62K (45% at current market price) that I am owed.

It appears that the mortgage company are taking me off the deeds (in the process of my ex taking the mortgage on herself) and so my concern is that I am still owed 45% (minus the 25K) and with me being taken off the deeds will I still 'legally' have a claim on the remainder of my share?

I am considering putting a charge on the property but a) can I do this and b) how much will it cost?

The ironic thing is my girlfriend is studying law ATM but doesn't get onto property law until her third year……. typical!

Any/all help is greatly appreciated.

Thanks
Pete

Land_Registry

Our online Practice Guide 19 provides guidance on how to protect what in effect would be a third party interest.

The entry of a notice or a restriction will cost a minimum of £40 as a registration fee.

Whilst we cannot provide legal advice experience suggests that the important thing to consider is the need to formalise your claim to your share i.e. how and when it would be paid etc. After that you can consider what is the best form of protection on the register and/or whether you either need your ex's consent to make such an entry or not.

We would always recommend seeking legal advice as to what form of agreement you need to enter into with your ex before you complete the transfer into her sole name - if not done so already of course. Other posters will I am sure be able to advise.

Nosamp

Thank you very much for your help.

Unfortunately/fortunately my ex got her self so stressed regarding borrowing the money that she has decided to put the house on the market, a slightly longer wait for my money but without the grief of the charge and it will be a clean break (financially).

Thank you again tho, she has been known to change her mind :shocked: so I may still need to do the charge.