im legally seperated is it possible to transfer joint mortgage into my name only?

Question

this is a law question

Answer 1

You can do this but only by a solicitor and only if your ex partner agrees and signs the papers.

Answer 2

You can, but only with the agreement of the other party and you'll both have to pay a solicitor to sort out the paperwork. You also will need the permission of the building society who will want to make sure that you can afford the repayments.

You will also probably have to buy back the equity in the property that your ex paid for through their mortgage repayments. The only way to do it fairly is to make sure you have clear evidence about who paid what and when.

Things get more complicated, though, if the property has gone up in value because your ex is entitled to a share of the increase. The share of the increase will be related to the amount of money they have invested - but I'm afraid both your lawyers are just going to have to thrash this out. Make sure you get a good one.

Answer 3

Yes,
But it is upto the Mortgage company of they will allow this, not your solicitor or infact you or your ex. The M company has the end say. Make sure that there are no arrears on the account, that you have proof of income to show you can afford the mortgage by your self and that you have permission from your ex. This should about cover it. If they say no - keep on at them, keep the account in credit and go further up the chain to get an explanation.

Good luck

Answer 4

Yes provided you both agree.
Firstly, you will need to see your mortgage lender to make sure that you can afford the mortgage on your own. Once this has been done, the mortgage will then be drawn up in your sole name.
You will then need to go and see a solicitor who will draw up the transfer. You will both need to sign this document. This transfers the property from your joint names ino your sole name. This document is then sent to the Land Registry to alter the names.

Answer 5

Quit Claim Deed: A quit claim deed is a type of deed where a grantor, a person who owns an interest in a property, transfers all his interests to someone else. The grantor offers no guarantees about the title to the recipient, who is called the grantee.

A quit claim deed is often used to clear up problems with a title or when someone wants to use a simple method to give up all interests in a property.

Answer 6

Hi, in the UK this is definately possible as I want to do it. However I don't earn any money so I either need a guarantor for the mortgage or I will have to change to a company with a huge interest rate.

Answer 7

it might want to count on the position you stay. contained in the united kingdom you may want to promote the resources previous to taking off divorce court cases, in spite of the indisputable fact that the marital living house is considered to be a joint asset. this signifies that any income from the sale will be chop up in accordance with the commercial settlement that became finally agreed. in case you promote for a nominal sum previous to divorce on an settlement to purchase again on an same nominal sum submit divorce, you may want to land up in warm water. in case you move the resources to some different person devoid of replacing the non-public loan you open a authentic can of worms. The mortgage is secured hostile to the fee of the resources. in case you no longer are the owner of the resources i.e. the deeds aren't any more on your call, then if there's a default in funds the non-public loan lender is going to look to you for complete settlement. this will be extremely embarrassing. it would also recommend that the move of the resources became unlawful when you consider that till the debt is discharged, the resources isn't yours to promote.

Answer 8

Yes, but the mortgage should have been named in any financial settlement made.

I suspect that when you say legally separated that you were never married (legally binded) in the first place.

Answer 9

yes it is a transfer of equity you need a solicitor and you will need to call your mortgage company. It should take about a month if all goes smoothly!

Answer 10

yes certainly but you must get the notarized signature consent on the new deed from the former joint owner. otherwise you must wait until she or he dies.

a simple quitclaim deed will suffice in most jurisdictions but some people prefer to have a regular grant deed (if you have those in your state) from you and her to yourself.and signed by both parties.

the lender should not complain but do not expect them to release the grantee ( your former spouse) from liability unless you qualify to assume the entire balance on your own credit with their consent.