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?
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.
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.
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?
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?
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;
Mr Ian Michael & Mrs Jill Walker
Value of property
£186, 466 (source Zoopla 31/12/2012)
£0 (mortgage redeemed 11/12/2012)
Details of banking Holder Value (31/12/2012)
Santander (Joint Account)
Mr I M & Mrs J Walker
Lloyds TSB (Sole account
Mrs J Walker
Santander (Sole savings account)
Mr I M Walker
Santander (Sole ISA account)
Santander (Sole Savings account)
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.
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
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?
The Judge asked for that statement about four weeks ago...Divorce Nisi was granted last Thursday....
The exact wording was, "a statement of financial settlement is required".
No....all was done following the guidelines on Direct Gov site...
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!
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?
Thank you, but could it be submitted alongside the Divorce Absolute application?