My husband wants to transfer his 50% share of our flat to me. We jointly own it right now. What is the process to do so? We currently have a interests only mortgage with a bank. I don't have any income. we rented the flat out, so I'm thinking to apply a buy to let mortgage for the transaction. The rent can cover the interests.
2007-04-02 23:38:23 · 5 answers · asked by aoilondon 1 in Business & Finance ➔ Renting & Real Estate
have you separated or is it for tax reasons?
A solicitor can do it, cost very little, some land registry paperwork. Mortgage company might be reluctant though, as they lend the money to both of you, not just you. So you would need to remortgage.
2007-04-02 23:44:16 · answer #1 · answered by dsclimb1 5 · 0⤊ 0⤋
You should be able to contact the bank and have this arranged...without any income however this can be tricky. If you've been with your lender for some time you may be able to have this completed tho. It's a simple matter of transferring the mortgage into your name alone. Your husband has to sign papers as do you.
If you have wills, these will also have to be changed as will insurances if you have home owners insurance, as that will be in his name as well probably. There may also be taxes and deed to the home to be changed...the deed may require a lawyer as well as the will...depends on how this is set up.
In short yes your husband can transfer his portion however some things have to be considered and possibly costs will be involved to do so.
2007-04-02 23:45:39 · answer #2 · answered by dustiiart 5 · 0⤊ 0⤋
We jointly own it right now
It's done, by the above statement.
Any expenses and/or income is half yours.
2007-04-02 23:43:44 · answer #3 · answered by ed 7 · 0⤊ 0⤋
I have the best answer for your question "How can my husband transfer his half share of our house to me?". Please click the link below to check my answer:
2007-04-02 23:45:28 · answer #4 · answered by Anonymous · 0⤊ 0⤋
He can Quit Claim his half.
2007-04-02 23:44:37 · answer #5 · answered by Cedie 1 · 0⤊ 0⤋