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Stuart J
Stuart J, Solicitor
Category: Property Law
Satisfied Customers: 22621
Experience:  PGD Law. 20 years legal profession, 6 as partner in High Street Practice
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Can I remove my name from the house deeds, currently in joint

Resolved Question:

Can I remove my name from the house deeds, currently in joint names with my wife, if the house mortgage is in joint names.. The mortgage privider, Nat West Bank says I can't but suggest I seek legal advise
Submitted: 4 years ago.
Category: Property Law
Expert:  Stuart J replied 4 years ago.
Is your wife able to make the payments for the mortgage?
Customer: replied 4 years ago.

No

Expert:  Stuart J replied 4 years ago.

Please confirm that the lender will not consent to this.

Do you mean remove you from mortgage, deeds, or both?

Customer: replied 4 years ago.

Nat West have advised that I can't remove my name fro the deeds unless we change from a joint mortgage to a new one in my wifes name only.


My wife is retired and would not therefore have suffiecient income to take out a mortgage.


 


I only want to remove my name from the property deeds not the mortgage


 


On a previous property we had a joint mortgage but the property deeds were in my wifes name only.


 


So my question is, is it a legal requirement for the deeds to be in joint names if the mortgage is in joint names

Expert:  Stuart J replied 4 years ago.
Why do you want to be removed? Are you divorcing or breaking up?
Customer: replied 4 years ago.

I use an umbrella company for payment of works carried out. HMRC are currently reveiwing this method of payment and I may end up with a large amount of back tax, if the Umbrella company fail in their appeal. Having been made bankrupt before we avoided loosing our house by buying a new house with my wifes equity share of the in the original house and having the new property registered in her name but with a joint mortgage.


 


 

Expert:  Stuart J replied 4 years ago.




Thank you. That explains why.

BUT...

Even if you did
transfer the property into your wife's sole name, it would have to be transferred
into her name for at least five years before it escapes the revenue's clutches if they decide that you transferred the house to her to avoid paying
them/creditors.

The situation is different if you
were getting divorced and it was as the result of a court order, but that is
not the case.



If you were getting divorced, the court can order
the lender to remove you from the title deeds, but it cannot order you removed
from the mortgage.



Provided your debt has nothing to do with your
wife, then her half of the house is safe from creditors and, depending on the
amount of equity in the property, it may be that a creditor could not force a
sale in any event, if a sale would not release a substantial amount of money



I appreciate that this is not what you wanted to
hear, but there is no point in me misleading you.



Can I help further?





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Customer: replied 4 years ago.

No thats all thanks

Expert:  Stuart J replied 4 years ago.

Glad to help. I just wish it was better news for you.

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don't forget to positively rate my answer service (even if it was not what you
wanted to hear) and I will follow up any further points you raise for free.

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