hi has anone been through a similar situation men or women i am married to my wife who walked out and left me just over a year ago didnt really think about it at the time but she is still on my mortgage at the time she said she only wanted about 5 grand which i gave her she said that would be it but now i think before i remove her off the mortgage she wants more what would she be entitled to half???? i need to speak to a solicitor i no that but just wondered if anyone had any familar stories and what was the outcome its not easy to take someone off he mortgage either
2006-07-24 22:08:13 · 12 answers · asked by mandy c 1 in Business & Finance ➔ Personal Finance
its the law even if you are not married she is still entitled to half of everything sorry to say
2006-07-24 22:13:31 · answer #1 · answered by carolyn m 3 · 0⤊ 0⤋
To remove a person from the mortgage requires a Transfer of Equity to take place.
If going down this route you need to ensure that you can afford the mortgage in your own name as the bank will look at your financial standing and if you wouldn't qualify for the mortgage as if you were a pplying for a new mortgage, they will refuse the ToE unless you have someone else join the mortgage too after the removal of your wife's name.
As the mortgage was in joint names (and it doesn't just apply to husband/wife partnerships), your wife will be entitled to half of the property regardless (unless you agree a legally binding contract to state otherwise).
Bearing in mind that if you 'buy her out' now with no legal document waiving all rights to a claim on the property (including that of a divorce settlement) you could suffer financially in the future.
At the end of the day, marriage breakups are hard with a lot of bad feeling in some cases. Do not act out of spite or malice, just get proper legal representation and sort it out amicabley if you can. Then you can both move on and start the healing process.
All the best
2006-07-25 03:08:41 · answer #2 · answered by QuackQuack 3 · 0⤊ 0⤋
Did you take the mortgage out together or did you add her later?
She has contributed, contrary to what you said. She has "probably" cooked, cleaned, bought food and other products. And has probably paid for things when you had no money left after you paid the mortgage. These things will be raised if it gets to court. Hindsight is an exact science. This time when you negotiate with her, DO NOT hesitate to get everything in writing and signed. She may not be entitled to half. I suggest looking into the statutory limitations ruling on this matter in your state as well. Do this before raising her curiosity.
2006-07-24 22:20:56 · answer #3 · answered by D 4 · 0⤊ 0⤋
It is easy to take her off the mortgage - it is called a Transfer of Equity, but can only happen in return for a consideration (i.e. some payment to her), which can be nominal.
She could probably argue for half of the value of the house a year ago, less the amount of any outstanding mortgages, but if she left at that time she would be hard pressed to get any more than that.
The law doesn't require that she pays anything in order to "own" a share!
2006-07-24 22:15:37 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Unless you two had a written agreement, unfortunately I don't think you've got a leg to stand on. She's your wife and she's on the mortgage, she's legally entitled to half. You really need to see a solicitor, maybe there's a loop-hole or something.
2006-07-24 22:17:00 · answer #5 · answered by Jenni 4 · 0⤊ 0⤋
You do not say which country you live in, but UK is a gold mine for wives. I have been in your situation recently.
The behaviour of the spouses is not relevant
Pre-nuptial agreements are not valid.
What she has contributed in money is not relevant.
Only the length of marriage counts.
Wives are entitled to 50% of all the assets, including pension rights, inheritance etc.The lot
Wives also nearly always get custody of the children,
for which you will have to pay extra according to your means.
A rich man who marries a poor woman in UK should have his head examined. Seriously.
Now feminists are trying to make the same law for cohabiting couples. Ever thought of emigrating? It will leave more room for the thousands of Asian and African immugrants, legal and illegal, who have nothing to lose,
2006-07-26 06:24:25 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Whether she paid or not, she was your wife. Therefore she can probably get more!
When I got divorced (after 3 years marriage) I had not paid 1p towards the house. I only took £10k, but my solicitor advised me to go for more (for 1/2) and actually made me sign a waiver to say I was going against her advice to not take more.
2006-07-24 22:11:01 · answer #7 · answered by OriginalBubble 6 · 0⤊ 0⤋
It seems to me by your question you are a man, but looking at previous answers you have given you are female. I might be wrong, but the name is a bit of a give away... In either case though it is always better to seek the advice of a solicitor and not here, as he will know the best way to go about it on your answers to his questions....
2006-07-24 22:16:42 · answer #8 · answered by BackMan 4 · 0⤊ 0⤋
Im afraid as your wife shes entitled to half.
2006-07-24 22:12:38 · answer #9 · answered by Anonymous · 0⤊ 0⤋
well she is your wife.. and even though she didn't pay the mortgage.. what did she pay for? did she pay for the hot water you used? or the food you ate? Even if she did not , did she clean and cook for you all those years?? I think she is entilted to it .
2006-07-24 22:14:46 · answer #10 · answered by Anonymous · 0⤊ 0⤋