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UK-Justice
UK-Justice, Barrister
Category: Law
Satisfied Customers: 16193
Experience:  Called to the Bar in 2007
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I am getting divorced and need to transfer the title deeds

Customer Question

I am getting divorced and need to transfer the title deeds of my house into just my wife's name, I am taking my half of the equity in cash. How much will this cost and how long will it take?
Submitted: 3 years ago.
Category: Law
Expert:  UK-Justice replied 3 years ago.
Thanks for your question, I will do whatever I can to help you. Please remember to rate my answer SMILEY FACE OR ABOVE.

If you do this yourself the cost is about £50.

The process would only take about 2 weeks.

If you use a Solicitor then the cost would be more, say £250 or so.

But the Land Registry are quite quick and their own fees limited.

I hope this helps.


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UK-Justice, Barrister
Category: Law
Satisfied Customers: 16193
Experience: Called to the Bar in 2007
UK-Justice and other Law Specialists are ready to help you
Expert:  Clare replied 3 years ago.
HiIn fact the position depends on whether or not there is a mortgage.If there is not then you can deal with the matter yourself - you will need to use a TR1 and an AP1 and there will also be Stamp Duty Forms to deal with.The Land Registry fee depends on the value of the property but is unlikely to be as low as £50.If there is a mortgage then the Mortgage company will require that it is dealt with by a solicitor.In any event before you do anything you need to check that your position is protected in family lawClaire
Customer: replied 3 years ago.

Hi Claire. There is no mortgage on the property as I've worked hard to get it paid off; I just want to take my name off the deeds so it "belongs" to my wife. The property is worth around £175,000...is there going to be any Stamp Duty to pay on this? I was just hoping that the Land Registry fee was going to be all. I need to get this started on Monday so it should be complete by end of February. Is it possible?


Ian

Expert:  Clare replied 3 years ago.
Hi
May I ask why you are doing this?
Claire
Customer: replied 3 years ago.

Hi Claire,


I'm doing this because we are getting divorced....there is some cash which I am taking as my share of the marriage, taking about £80,000, but also leaving my wife £25,000 and the house.

Expert:  Clare replied 3 years ago.
Hi
Is there going to be a Court order within Divorce proceedings to protect your position?
Claire
Customer: replied 3 years ago.

No. I have chosen to sign the house over to my wife, the £80,000 being my compensation. I have also opted to deposit £25,000 into her bank account to cover any bills up until September when she can apply for her pension on early retirement. I just want away from the marriage, the house and the area. I want to start a new life.

Expert:  Clare replied 3 years ago.
Hi
You do understand that this could still leave you at risk of further claims?
Claire
Customer: replied 3 years ago.

Why? We have agreed that the house should not be sold as she wants to stay, so the transfer of the money is my "share". What other claim could she have?

Expert:  Clare replied 3 years ago.
Hi
Unless there is a financial order made within divorce proceedings then the claims remain open
Claire
Customer: replied 3 years ago.

So, with the Divorce Absolute, should I get a financial order settled as well? When I have put the case to the court I have included all of the financial details and the divorce Nisi has been granted. How do I make a financial order?

Expert:  Clare replied 3 years ago.
Hi
This is done by filing a Clean Break Consent Order and getting it sealed by the court
Claire
Customer: replied 3 years ago.

WOW!!! Where do I get this Clean Break Consent Order? Is the form on the Gov site? Or...would it be a copy of the agreed payments/transfers to each party that I sent to the court earlier?


This is what I sent to the court when they asked for a financial statement;





















































Owners



Mr Ian Michael & Mrs Jill Walker



Title number



WM194874



Value of property



£186, 466 (source Zoopla 31/12/2012)



Outstanding mortgage



£0 (mortgage redeemed 11/12/2012)



 


Details of banking Holder Value (31/12/2012)



Santander (Joint Account)



Mr I M & Mrs J Walker



£705.74



Lloyds TSB (Sole account



Mrs J Walker



£12,144.53



Santander (Sole savings account)



Mr I M Walker



£13,125.00



Santander (Sole ISA account)



Mr I M Walker



£5350.72



Santander (Sole Savings account)



Mr I M Walker



£80,131.14



 



 


Statement:


On condition of Divorce Nisi being granted, the sole ownership of the property will be transferred to Mrs J. Walker. Mr Walker will take the £80,000 as compensation for this.


Statement:


On condition of Divorce Nisi being granted, the sum of £15,000 will be deposited in the Lloyds TSB account belonging to Mrs J. Walker to cover household bills until September 2013, taking her share to £25,000


Statement:


All household bills, currently £280 per month, are paid from the Santander joint account, this funded solely by Mr Walker, and this will continue until Divorce Absolute is granted, the account will then be closed and the proceeds shared equally.


 


Was it the wrong thing to do?

Expert:  Clare replied 3 years ago.
Hi
When did they ask for a Financial Statement?
Claire
Customer: replied 3 years ago.

The Judge asked for that statement about four weeks ago...Divorce Nisi was granted last Thursday....

Expert:  Clare replied 3 years ago.
Hi
Do either of you have solicitors and what the exact wording of the request (Finances are nothing to do with Decree nisi)
Claire
Customer: replied 3 years ago.

The exact wording was, "a statement of financial settlement is required".

Expert:  Clare replied 3 years ago.
Hi
Do either have you have a solicitor?
Claire
Customer: replied 3 years ago.

No....all was done following the guidelines on Direct Gov site...

Expert:  Clare replied 3 years ago.
Hi
Did you send in any form of Financial Order?
Claire
Customer: replied 3 years ago.

No, all I sent was the table showing what was going to happen. I have since had a letter saying that was in order and Nisi was granted. Will I have to complete a Financial Order form, or just make sure that a total absolution is done, I suppose I could do this with a Clean Break form!

Expert:  Clare replied 3 years ago.
Hi
If you wish there to be a final financial order ensuring that no further claim could be made then you will have to submit a Clean Break Order to the court.
There is no standard form for this - but if all the terms are agreed a local solicitor should be willing to draft it for you for £150 or so (plus VAT)
Claire
Customer: replied 3 years ago.

Thanks Claire....you've been extremely helpful. Does this Clean Break Order have to be submitted to the court at the same time as the application for Divorce Absolute?

Expert:  Clare replied 3 years ago.
Hi
No it can be submitted afterwards if you prefer
Claire
Customer: replied 3 years ago.

Thank you, but could it be submitted alongside the Divorce Absolute application?

Expert:  Clare replied 3 years ago.
Hi
Indeed it can - but it will take longer to deal with so they are not actually dealt with together
Claire

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