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Ask Clare Your Own Question
Clare
Clare, Solicitor
Category: Law
Satisfied Customers: 34105
Experience:  I have been a solicitor in High Street Practice since 1985 with a wide general experience.
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Myself and my MRS have two joint properties. one investment

Resolved Question:

Myself and my MRS have two joint properties. one investment property and the second the home we are living in. My MRS is not able to keep up with her share of mortgage repayment lately . so she decided to transfer her share on my name. How do I proceed
? do I need a new mortgage ? please advice.
Submitted: 1 year ago.
Category: Law
Expert:  Clare replied 1 year ago.
HiThank you for your questionMy name is ***** ***** i shall do my best to help youHow long have you been married and why do you need to do this?
Customer: replied 1 year ago.
17 years been married and its her decision since she knows wont be able to keep up with the repayments and best in interest of our kids.
Expert:  Clare replied 1 year ago.
But it will not make any difference to the situation - unless she is likely to go bankrupt?
Customer: replied 1 year ago.
she is not going bankrupt . its just new arrangement between myself and my MRS.
Expert:  Clare replied 1 year ago.
Hi
If you decide to do this then you will need either the consent of the Mortgage company or a new mortgage so your starting point is to ocntact the mortgage company
However do be are that she will still have the right to a 50% share of the property in the event of a divorce and doing this will not change that
Please ask if you need further details
Clare
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