Divorce and iva

Laser2016

My ex is in iva. We have a marital home that we have contributed to equally. His iva has 4 years to run. From what i can see he cannot buy me out in this time as he has no assets and is not permitted to borrow money to pay me out £20k.the mortgage is in just his name.

He wants to keep house but so do i. Selling now seems a bad option as neither of us will be able to buy elsewhere and the iva will claim at least half the equity. He has technically breached his iva zeveral times already

Is it possible to add my name as equal owner to the deeds so we can divorce now then one of us stays in house until iva finished?

Comms69

Not if it's mortgaged.


And if your name is not on there, you have some rights to continue to reside there, but it's not as an owner.

TBagpuss

Adding your name is likely to require the mortgage lender's consent.
However, if you can buy him out, and he can't buy you out, you can ask a court to order the house to be transferred to you. You'd need to get a mortgage to pay off the mortgage and pay your ex his share.

Another option would be to have an order which specifies when the house is to be sold, who gets what when it is is,and who lives there in the mean time. (and who pays the mortgage etc)

Comms69

TBagpuss wrote: »

Adding your name is likely to require the mortgage lender's consent.
However, if you can buy him out, and he can't buy you out, you can ask a court to order the house to be transferred to you. You'd need to get a mortgage to pay off the mortgage and pay your ex his share. - Uhm, not until the divorce reaches that stage. At the minute the OP has basic residential rights to remain, and absolutely no legal ownership. She would need to first prove a beneficial interest in the property.

Another option would be to have an order which specifies when the house is to be sold, who gets what when it is is,and who lives there in the mean time. (and who pays the mortgage etc)

This would all be part of the divorce proceedings. There's a chance that the OP wouldn't get any of the house. (not likely, but it's not 100% guaranteed)