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.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Buying out soon to be ex boyfriend
Jessica1980
Posts: 12 Forumite
Hello
I need to buy out my soon to be ex boyfriend.
There’s no mortgage on the property and I have the cash to pay for his half.
What do I need to do to make this legally binding and do I need a solicitor?
I need to buy out my soon to be ex boyfriend.
There’s no mortgage on the property and I have the cash to pay for his half.
What do I need to do to make this legally binding and do I need a solicitor?
Also, how quickly can this happen?
Many thanks
Many thanks
0
Comments
-
What ever happens it WONT be quick.0
-
If this is an amicable split you should be able to DIY this and change the ownership with the land registry, otherwise I would use a solicitor to handle it who would not hand over the cash until the paperwork for the LR was in place.2
-
Thank you, that’s really helpful.0
-
how do you intend to value his half?
And does he agree with that valuation?0 -
Keep_pedalling said:If this is an amicable split you should be able to DIY this and change the ownership with the land registry, otherwise I would use a solicitor to handle it who would not hand over the cash until the paperwork for the LR was in place.OP, even if the split is amicable I would still use a solicitor. You'll want to make sure everything is done correctly so you won't have a problem when you (eventually) come to sell, and also to make sure the soon-to-be-ex has absolutely no claim to the property - for example falsely claiming you put the LR paperwork through without his knowledge. A solicitor would also advise on anything else you need to consider, such as the correct position in relation to SDLT.Unfortunately sometimes the most amicable of splits can turn messy very quickly - it simply isn't worth taking the risk when a solicitor can do the worrying for you for a fairly modest fee (relative to the value of the property).4
-
Wise words, thank you. I will get a solicitor.0
-
You need a solicitor really to cross the ts and dot the i.Not with an ex but I did similar with a sibling I joint owned with, it cost £600 for the solicitor to do it all.0
-
You are assuming that your soon to be ex wants to be bought out?2006 LBM £28,000+ in debt.
2021 mortgage and debt free, working part time and living the dream0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.5K Banking & Borrowing
- 253.3K Reduce Debt & Boost Income
- 453.9K Spending & Discounts
- 244.5K Work, Benefits & Business
- 599.8K Mortgages, Homes & Bills
- 177.2K Life & Family
- 258.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards