Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • doctorzoidberg
    • By doctorzoidberg 7th Aug 18, 1:57 PM
    • 2Posts
    • 1Thanks
    doctorzoidberg
    Transfer of Equity after divorce, child involved
    • #1
    • 7th Aug 18, 1:57 PM
    Transfer of Equity after divorce, child involved 7th Aug 18 at 1:57 PM
    Hi all, I'm in need of a little advice before I instruct solicitors, so I know where I stand. Here's the story:

    Ex-wife and I divorced 3 years ago, we are jointly on the mortgage together (200k house value, 95k mortgage) but she hasn't paid any since she left. I live in the house with my 5yo son, in the divorce we agreed in court that her equity (25k) would be released once he turns 18 and not before.

    I now want to remove her from the title deeds and re-mortgage solely in my name. We've been talking and she insists that a transfer of equity would void the divorce agreement and I need to buy her out before she will agree to the transfer.

    I would like to go ahead with removing her from the deeds and mortgage but keep the terms of the divorce agreement, is she correct in saying that a transfer of equity overrides this? I can't find anything online about this so if anyone could advise I'd be very grateful.

    Thanks, James
Page 1
    • Thrugelmir
    • By Thrugelmir 7th Aug 18, 4:12 PM
    • 59,480 Posts
    • 52,799 Thanks
    Thrugelmir
    • #2
    • 7th Aug 18, 4:12 PM
    • #2
    • 7th Aug 18, 4:12 PM
    Seems reasonable that she wants her 25k of equity before signing off. Being named on the title deeds provides her with the security for the money. Once removed she has no control at all.

    What's your objective?
    Financial disasters happen when the last person who can remember what went wrong last time has left the building.
    • doctorzoidberg
    • By doctorzoidberg 7th Aug 18, 5:03 PM
    • 2 Posts
    • 1 Thanks
    doctorzoidberg
    • #3
    • 7th Aug 18, 5:03 PM
    • #3
    • 7th Aug 18, 5:03 PM
    My objective is to keep the terms of the divorce settlement as they are, simply that. I'd rather not buy her out yet if I don't have to. It would be beneficial to me if I could keep the agreement as it is but remortgage, we're not on bad terms so there'll be no battle for it, I just wanted to know if it was something that could be done.
    • Thrugelmir
    • By Thrugelmir 7th Aug 18, 5:13 PM
    • 59,480 Posts
    • 52,799 Thanks
    Thrugelmir
    • #4
    • 7th Aug 18, 5:13 PM
    • #4
    • 7th Aug 18, 5:13 PM
    Without her agreement, the answer is no.
    Financial disasters happen when the last person who can remember what went wrong last time has left the building.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

1,474Posts Today

8,517Users online

Martin's Twitter
  • Ta ta... for now. This August, as I try and do every few yrs, I'm lucky enough to be taking a sabbatical. No work,? https://t.co/Xx4R3eLhFG

  • RT @lethalbrignull: @MartinSLewis I've been sitting here for a good while trying to decide my answer to this, feeling grateful for living i?

  • Early days but currently it's exactly 50 50 in liberality v democracy, with younger people more liberal, older more? https://t.co/YwJr4izuIj

  • Follow Martin