Transfer Of Equity Issues

Nathanvtr

Hopefully posted this in the right forum.

Currently in a position whereby I have an ex-partner that i separated from in 2010.

We are joint owners of a property which I have continued to pay the mortgage for and upkeep. She has had no involvement since vacating the property.

Over the years I’ve attempted to complete a transfer of equity however the bank were the obstacle and on occasions her being awkward.

I got or so I thought everything in place and have attempted to go through this process again. I’ve just spoken with my solicitor and my ex has still not returned the ID documents for them to then issue her the necessary paperwork.

I’m concerned that she’s going to mess me around, yet again.

There is no money to be exchanged as part of the transfer as neither of us put anything into the sale and she agreed to walk away.

I have a new mortgage ready to go ahead once this is complete so quite frustrating as all I want to do is move forward.

I’ve read online I’m able to obtain a court order which can be issued by a judge which means the transfer can go ahead without her signature.

I’ve spoken to the courts although they weren’t sure what paperwork I would need.

Has anyone else been in a similar situation and obtained the paperwork. If so what form was it? What was the name of the order?

Information online suggests it maybe a consent order?

Any help is appreciated

silvercar

There is no money to be exchanged as part of the transfer as neither of us put anything into the sale and she agreed to walk away.

Agreed in the past? Or agreed now?

If she is not providing the necessary paperwork, it sounds like what she says and what she does are two different things.

Nathanvtr

There was an agreement before the new year that she would sign the paperwork to allow the transfer of equity as a result I agreed to pay the costs for the process and instructed a solicitor to begin.

Tiglet2

Do you have written evidence that your ex would be willing to walk away from this with nothing? You say you split up in 2010, but how long did your ex live in the property before then?

It sounds like your ex may have to be persuaded to enter into this transaction by way of an incentive, i.e. what would it cost for her to willingly sign the documents and provide the ID. Maybe your lender could provide additional funds to be paid to her on completion if they are agreeable. Failing that, ask yourself if your ex could be entitled to a share of the property and is she likely to seek advice from a solicitor about transferring her share of the property to you in return for payment?

We have dealt with transfer of equity's at work where the outgoing proprietor gets an "allowance" of, say, £10k for removing their name from the title, but this is something that you will need to discuss with her and come to an agreement on.

Tiglet2

Although you have agreed to pay "costs" for the solicitor acting in this transaction, this does not compensate your ex in any way. You will be the one who benefits as you will own 100% of the property.

Nathanvtr

So I’m clear about this.

She has agreed to remove her name and sign the necessary without payment recently and yes I have proof of this.

The incentive was that the debts caused by her previously have been covered by me to avoid any issues with the property. I have fulfilled everything agreed to in order to avoid putting the house in jeopardy some years ago. There were mortgage debts and various utility bills unpaid on her half. I have put all the wrongs right.

We reached an agreement in November and I have the evidence of this, which is why I began the process.

I simply need to know what order at court would I be looking to apply for in order to have a judge authorise her removal.

At that stage I have all the evidence needed to show why she isn’t being brought out to a judge.

It’s not uncommon for people to separate without any financial exchange. We both want to just move on with our lives.

xylophone

on occasions her being awkward.

my ex has still not returned the ID documents for them to then issue her the necessary paperwork.

We both want to just move on with our lives.

She's not as keen as all that to move on?

Thrugelmir

Nathanvtr wrote: »

It’s not uncommon for people to separate without any financial exchange. We both want to just move on with our lives.

Seems she is more than happy to retain an interest in the property. Perhaps she's found out howmuch equity is now in the property.

steampowered

Is there a significant dispute of fact? If no, use the Part 8 procedure using form N208. If yes, use the Part 7 procedure using form N1. It sounds like you should use the Part 8 procedure in a situation like this.

The basis of your claim would be to seek an order under s14 of the Trusts of Land and Appointment of Trustees Act 1996 that the property is sold.

This is not a small claim. If you are unsuccessful or if you don't comply with the Civil Procedure Rules, you must expect to be ordered to pay your ex's legal costs.

I wouldn't embark down the road of seeking a court order for sale without using a solicitor. When people start small claims they get a lot of leeway to make mistakes and there isn't much risk to getting it wrong. But for a case like this you don't get leeway and there is an enormous risk to getting it wrong.

By the way, a simple 'agreement' from your ex that she would sign paperwork doesn't sound legally binding to me. The Law of Property Act 1925 requires the transfer of an interest in land to be executed in a deed, or for the transfer of a beneficial interest in land to be in a signed written document. It is doubtful whether the 'agreement' could constitute a contract either, unless there was 'consideration' and 'intent to create legal relations'.

Nathanvtr

Thankyou for your suggestions. I currently have a solicitor dealing with the transfers unfortunately they dontt have anyone who can deal with this element so it means finding another representative.
Either way this cant continue so it looks as though itll be my only option.
Unlikely the property will be sold as the equity if any at all I doubt would cover the legal fees.

Thanks because I feel like theres is nothing I can do but i surely cant be the first person be in this situation.

Thank goodness for forums