Buying my ex husband out on a mortgage free property using savings

Welshlass1964

I am thinking of buying my ex husband out of our marital home which is mortgage free, the option of which we will include on the consent order. I can do this using savings without getting mortgage. 

I want to avoid conveyancing costs. Can I do this myself,? Is it just a matter of
■ us agreeing
■ completion & submission of a TR1 form to take him off the deeds & re-registering my sole ownership with land registry,
■ transfer of funds from me to him

 Am I right in thinking I would not pay stamp duty as it would be as a result of a divorce settlement.  TIA

AskAsk

i have just done this but we haven't yet applied for the consent order.  if you wait for the consent order then it makes things very simple as the order will instruct you to make a payment to your ex and for him to transfer his share to you.  it has to be done by solicitors as the consent order will state that you each need to instruct separate solicitors to do this.  it is called an equity transfer.

this way you don't need to pay stamp duty and he won't need to pay additional stamp duty on a new purchase.

if you want to do this before the consent order then it becomes very complicated, which i have just found out!  we had to get a separation agreement drawn up by the solicitors as proof of our separation for me to be excluded from paying stamp duty and for him not to have to pay additional stamp duty on the purchase of his new house as we have the conditional order but not the final decree yet or the consent order, so you would need to wait for the conditional order and get a separation agreement legally drawn up before you can do the equity transfer and you both need to instruct your own solicitor.