Protecting my home in case of divorce

Malthusian

Udont_knowme wrote: »

If I sell my house to my sister for a nominal amount, say £10 and "rent" it from her.

You'd rather lose the entire house to your sister than lose 50% of it to the mother of your children?

Even if it worked, what do you think would happen if your sister got divorced? Or if she decided to sell her new house and move to the Bahamas?

My wife has never contributed financially to the home. I pay everything, mortgage, bills, insurance and maintenance etc etc and always have done.

And you would still have held down the same job and been able to afford the same mortgage if you had been a single father with three children to bring up by yourself?

As others have said, it won't work, so for your own sake, don't try to cheat your wife out of her share of the marital assets.

enjoyyourshoes

Change from repayment to interest only for the time the dispute is progressing.

thorsoak

Your priority should not be saving your house - it should be in protecting your children from the fall-out of the break-up of your marriage.

That must be the priority of you and your wife. You may no longer wish to be husband and wife, but you are still father and mother to three children, and your priority should be where and with whom are they going to live?

Who lives in the house comes after that.

martinbuckley

Why not remortgage it for 95% of the valuation, then give the money to your sister.

paddy's_mum

Has this been your attitude throughout your years together? Yours is yours, hers doesn't matter nor count?

You state that she is cheating and yet you come on here for advice on how to cheat both her AND your children.

Pot and kettle, anyone?

onomatopoeia99

paddy's_mum wrote: »

You state that she is cheating and yet you come on here for advice on how to cheat both her AND your children.

I'd suggest protecting a significant asset from a profligate woman better protects his children's long term financial interests and ensures the mother doesn't start taking out loans against it to fund her lifestyle, thereby harming the children's interests.

PeacefulWaters

The starting point will be she gets half your home and you get half her debts.

Good luck. But don't try to cheat the system.

paddy's_mum

onomatopoeia99 wrote: »

I'd suggest protecting a significant asset from a profligate woman

Sorry, but there is no suggestion whatever in the opening post that the wife in question has done any such thing.

Reference to profligacy/debt comes in post 6 from someone else entirely.

sheramber

Can you afford to pay off the outstanding mortgage if you 'sell; your house to your sister?

Can you afford the legal fees involved?

Does your sister want to be a landlord with all the legalities that involves?

Pollycat

paddy's_mum wrote: »

Sorry, but there is no suggestion whatever in the opening post that the wife in question has done any such thing.

Reference to profligacy/debt comes in post 6 from someone else entirely.

And although I don't agree with cheating, I have to confess a sneaking sympathy for the OP's wife given the 'me, me' attitude to money shown by the OP's single post.