HELP!! Joint mortgage, Ex getting IVA/bankrupt

Mullakewol

Hi all,

I have a joint mortgage with an ex wife, she's now getting an IVA, and she has agreed over email to sign the house over to me in a "equity transfer". This can't be done for a few months as she missed some payments causing the account to go into arrears. I've now got control of the house and am making regular mortgage payments.

Is there any document I can get drawn up for her to sign to say she will sign it over, then it's kind of legally binding? (Don't trust her word)

Also with her getting an IVA, does this give me more power over her with regards to the mortgage?

Thanks

CalumHeath

I think a Deed of Trust is what you're after. A solicitor that deals with property /conveyance matters would be the best to go to as they often go hand in hand with other property-related legal matters.

This is only my opinion and somebody might have more helpful advice.

National_Debtline

Hi Mullakewol and welcome to the forum.


Calum's advice above that you consult a conveyancing solicitor is very sensible.


I would add, though, that it may not be as simple as your ex-wife signing across her interest in the property and then proceeding with an IVA. Her creditors may query the legitimacy of the transaction and whether she has deliberately deprived herself of an asset - the IVA can only go ahead with the approval of a majority amongst them.


Much would depend on the level of her beneficial interest in the property - this will be influenced by the size of her contribution to any initial deposit and subsequent instalment payments. Again, I would suggest that the solicitor could advise on this.


Dennis
@natdebtline