Complicated! Exes, re marrying and mortgage.

monty-doggy

Hello
Sorry this is quite complicated and I'm not sure if this is even in the right place.
My partner is stuck on a mortgage with his ex. He has chosen not to force a sale because his three children live with her.
She has her new partner living there.
Her new partner has paid for a lot of building work and a conversion of an integral garage.
She has told him she will arrange a transfer of equity to give him my partners share of the house.
We have explained to her this isn't possible because my partner will not give up his equity and will most certainly not stay on the mortgage while giving his rights to equity up.

My partner was married to her. He paid for the divorce and she was going to pay for the consent agreement but she didn't, so they have not discussed a financial dissolution. She just assumes she is having the house end of.

She has defaulted on her interest only mortgage payments almost every month for 5 years, currently about 10 months in arrears.

My questions are
What happens if she applies for a transfer of equity and forges my partners signature? (She has threatened this)

She is getting married. If her assists become joint upon marriage how will that work? What will happen to my partners share of the house?

My partner wants half of the deposit they put down on the house. He is happy for her to have all the equity.

If you've got this far thank you!

Thrugelmir

At the moment the issue will be the welfare of the children as it's their home. Forcing a sale wouldn't work under these circumstances.

Given the arrears then remortgaging seems unlikely to be possible. Worth pointing out that arrears are a liability of all parties to the mortgage. So your own partners credit rating is likewise being trashed.

Without your partners agreement she has no options to do anything anyway.

How old are the children? As this may have a significant bearing on when something may be achievable.

Mojisola

monty-doggy wrote: »

What happens if she applies for a transfer of equity and forges my partners signature? (She has threatened this)

I would tell the mortgage company and insist that they don't accept any signed paperwork without contacting him directly.

monty-doggy

We don't want to force a sale, we are happy for her to stay there with the children. They are 13, 12 and 10 plus she has a son with her new partner who is 2.

My partner was paying half the mortgage every month until she moved her new partner in.
He pays her maintenance as set by the CSA plus an extra £60-100 a month as she is struggling. We are happy with that arrangement.

Thrugelmir

Then your options are very limited. Other than to sit and wait it out.

monty-doggy

My concern is
1. She is getting married, so if her assets become her husbands assists, what happens with my partners share of her house?
2. Can she forge a sale or transfer of equity?

3. When the time does come, what will my partner be entitled to?

Floxxie

Try www.wikivorce.com. There is a lot of information on the site, as well as solicitors and barristers who will be able to answer your question.

Thrugelmir

Getting married doesn't override current ownership of assets. Only her share would become her husbands (in certain circumstances).

She could try. Though would be a criminal offence. So highly unlikely.

That's why it's best to resolve this aspect now. Get a financial consent order agreed. Won't get any easy as the years pass. Unless your partner is happy to gift the equity once the mortgage is paid off or they are able to remortgage themselves.

monty-doggy

She can't re mortgage. Horrendous credit. No job.
So unless her partner can get a mortgage there's no way round it.

My understanding is either
The house is sold and the equity divided between the two of them (my partner and his ex)

We stay as we are until the day comes she can re mortgage or the house is sold. And then my partner will get his share.

There is no point in Us paying for a consent agreement right now as she can't buy him out. Is that right?

Thrugelmir

monty-doggy wrote: »

There is no point in Us paying for a consent agreement right now as she can't buy him out. Is that right?

What it would do is formalise matters should the issue still be unresolved when the children are older. The ex could simply dig her heels in and remain in situ. Forcing a sale is not a cheap option either. A legal document would aid the cause and more than likely result in all legal costs being awarded against the ex.

Mummyto4kids

You still need to get things formalised as to the future shares - it might be that the court puts a mesher order in place where she stays until the eldest child reaches a certain age then has to sell and the equity is split - however I think there are issues when one partner remarries - so it needs sorting out now. If she's not paying then it'll be trashing his credit record because he's on the mortgage - wikivorce is a great site I used it a lot during my divorce but I'd suggest he needs legal advice here