We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
Transfer of Equity.
LukeM44
Posts: 24 Forumite
Hi,
Myself and my partner own a home together (we aren't married)
I'm transferring the house to his sole ownership, and I will be receiving no money for it.
I'm handing over my 50%.
Accord want me a letter proving I've taken independent legal advice, it's going to cost me £800....I've already spoken to my broker and the solicitor who's doing the transfer of equity they've given me general advice.
Is there a way to get around this?
The cost is extortionate.
Thanks,
Myself and my partner own a home together (we aren't married)
I'm transferring the house to his sole ownership, and I will be receiving no money for it.
I'm handing over my 50%.
Accord want me a letter proving I've taken independent legal advice, it's going to cost me £800....I've already spoken to my broker and the solicitor who's doing the transfer of equity they've given me general advice.
Is there a way to get around this?
The cost is extortionate.
Thanks,
0
Comments
-
He gets your 50% for free, maybe he wants to cover the £800 for your legal advice?
the other obvious question one is intrigued to ask … why are you doing this?
1 -
You don’t say the reason you want to do this, but why would you give up such a high value asset for no payment?2
-
What are you hoping to achieve by this action?1
-
And why are you certain that it costs £800? Have you shopped around at all? I'd do it for £795...0
-
From the OP's other posts, it's a relationship break-up and there's a mortgage involved so the equity involved will be much less than the value of half a house - the OP just wants some closure and to move on with their life.Schwarzwald said:the other obvious question one is intrigued to ask … why are you doing this?
Every generation blames the one before...
Mike + The Mechanics - The Living Years0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 350.2K Banking & Borrowing
- 252.8K Reduce Debt & Boost Income
- 453.2K Spending & Discounts
- 243.2K Work, Benefits & Business
- 597.6K Mortgages, Homes & Bills
- 176.6K Life & Family
- 256.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards