How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Alex J. Your Own Question
Alex J.
Alex J., Solicitor
Category: Family Law
Satisfied Customers: 3757
Experience:  Solicitors 2 years plus PQE
13113900
Type Your Family Law Question Here...
Alex J. is online now

I put my sons name on my deeds and he now pays half the mortgage.

Customer Question

I put my sons name on my deeds and he now pays half the mortgage. We remortgaged
to clear all our debits. He would like to buy my half of the house, how do we go about it?
Submitted: 1 year ago.
Category: Family Law
Expert:  Alex J. replied 1 year ago.
Hi, Thank you for your question and welcome. My name is ***** ***** I will assist you. Is he paying a market rate for your half of the house? Will he obtain a mortgage? Kind regards AJ
Customer: replied 1 year ago.
He is paying half the mortgage and will hopefully obtain a mortgage. We don't know what steps we take when
we are in a position for him to buy me out. I would like to know if it is possible for this to be achieved.
Customer: replied 1 year ago.
When we go ahead with this, he will pay the market price less 1/2 the mortgage we took out - I think that is what
we agreed.
Expert:  Alex J. replied 1 year ago.
Hi, Thank you. This is possible - all you need is a solicitor to arrange the transfer of the legal title into your name. What you wont be able to do is take your name off the mortgage without the banks consent. Presumably will your son start paying the whole mortgage on completion?