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LondonlawyerJ
LondonlawyerJ, Advocate
Category: Law
Satisfied Customers: 777
Experience:  Solicitor with over 15 years experience.
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Is it possible to sign my property that is mortgaged over to

Customer Question

Is it possible to sign my property that is mortgaged over to my brother who is living in it and wants to take it over?
Submitted: 2 years ago.
Category: Law
Expert:  LondonlawyerJ replied 2 years ago.

LondonlawyerJ :

Hello I am a lawyer with over 15 years experience. I will try to help you with this.

LondonlawyerJ :

When you say sign over do you mean sell it to him for money or to simply transfer ownership to him for no money?

LondonlawyerJ :

You will need to be careful with this. Although you are the property owner you are not necessarily able to deal with it exactly as you wish. The mortgage company will have a charge on the property at the land registry which will make it hard for you to transfer the ownership to your brother without their permission. You would also be in breach of your mortgage agreement if you did so. You can try and get the mortgage company's permission to transfer the mortgage to your brother but this will not necessarily be straightforward. If you do manage to transfer it then the mortgage company will be able to demand payment of the outstanding balance of the mortgage from you. This may be a situation you would like to avoid.

LondonlawyerJ :

I fear that this is not what you were hoping to hear but it is the correct advice but I hope it has answered your question.

LondonlawyerJ :

Please rate my service. Your question will not close when you do so and I will respond to any follow up questions you may have.

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