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propertylawyer
propertylawyer, Solicitor
Category: Law
Satisfied Customers: 288
Experience:  Property Solicitor with expertise in commercial and residential property transactions.
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I am divorced and still own a house with my ex wife. I want

Customer Question

Hi,
I am divorced and still own a house with my ex wife. I want to get my capital out of the house but not sell it on the open market as she doesn't earn enough to get a full mortgage on the property so we want to keep the ownership as joint. We have agreed a cash price which we will say is an interest free loan and is repayable upon selling the property.
She is worried that when we sell the property in the future, I have the right to claim 50% of the asset and ask for more money. Is it possible to legally write a letter confirming that I have sold my half of the property to her and that I forgo any profit in the future when sold?
Submitted: 1 year ago.
Category: Law
Expert:  propertylawyer replied 1 year ago.

Hi

You can do this by a declaration of trust. You will need a solicitor to draft it for you. Let me know if you need further assistance on this.

Kind regards

Expert:  Clare replied 1 year ago.

Thank you for your question

My name is ***** ***** I have been a family lawyer for more than 30 years.

Your ex is likely to be worried about a claim within the financial side of divorce proceedings which is NOT covered by a Declaration of Trust.

When was the divorce and what agreement - if any was reached on the finances at that time?

Expert:  propertylawyer replied 1 year ago.

Hi there,

As a property lawyer I have drafted many declarations of trust for may different situations. I would be happy to assist you further if necessary. Please do let me know if you have any further questions.

Kind regards

Paul