Charge orders against property

ansellm1970

Hi I am currently separated from my husband and have been for almost 5 years. We have bought two properties while we were married however because of a previous house repossession in my name, both mortgages are in his name.

Since we separated he has moved to the other house and I still reside with the children in the family home. I have been paying the mortgage and have a home rights order on it too. However, he has built up various debts in his name since we split and there is now a considerable amount of charge orders secured against my home. I have had the house valued today and if I sold it (which he has given permission to) I would lose out to the sum of around £35k because of his debts which have to be paid first. I never seem to be able to get a straight answer from anybody or organisation as to whether I can apply to have the charge orders moved to the other property before I sold it and if I can how, and would it cost?

If anybody has had any experience of this or has knowledge of this scenario any advice would be greatly received!

Thanks

Kynthia

The families part of the forum may have people more experienced when it comes to separations and the finances involved. However I suspect that you need to formally split the marital assets as at the moment you are not divorced and don't have a legal financial separation. The house is currently his and his creditors will want paying from his asset.

DTDfanBoy

As you don't legally own the property you can't sell it, so you won't be missing out on £35k.

You really need to sort out a settlement with your husband, so you know how to distribute the remaining assets.

You can't apply to have the charges moved to another property.

Guest101

You need to get a divorce and settlement sorted asap.

I doubt the charges will be moved, you dont own the house.

The charges will have to be paid before any transfer is done. So it is likely that the best you'll get is a court order preventing further borrowing against the property. (and it be sold once kids are 18 is likely)

You do have a financial interest in the property though, so when it is sold you will be entitled to some money. (perhaps all if the court decides that)

ansellm1970

On paper I don't own it however he has already agreed with me that any proceeds out of this house will be mine as I have paid the mortgage for the last 4 years and we jointly did before that. I also have permission to put it on the market. Of course I have missed out on 35k as it's not my fault that he has the debts!

DTDfanBoy

Well you'll need to renegotiate with your husband if you're not happy with the current offer, it isn't possible for you to have charges removed from a property you don't own.