Transfer of deeds

angeljay

Hi

I have been split from my ex for about 10 years and they have paid nothing towards the joint mortgage in those 10 years, ive finally arranged my own mortgage and going through the transfer of the deeds form.

The letter from my solicitor says “I encloses herewith your transfer deed which has been drafted subject to name recieving no cash consideration”

However further down the letter it says in bold

“ before signing the transfer deed, I would strong,he recommend that you take independent legal advice to ensure you fully understand the implications. Particularly if you are transferring the property at undervalue IE in return for a payment less then name’s full legal entitlement based on legal ownership of property. This is because we have not had any details regarding your finances and cannot advise whether the settlement further you have reached is correct in your circumstances. We are only instructed to transfer the legal title and follow your instructions with respect to equitable interest without giving any advice.”

Can some explain what this means in general terms, do I need to worry or am I okay signing the form as this is from the solicitor dealing with the mortgage transferred into my name only.

Thanks for your help.