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Thomas
Thomas, Solicitor
Category: Property Law
Satisfied Customers: 7620
Experience:  UK solicitor holding an England and Wales practising Certificate.
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my husband and i are going to seperate the mortgage is still

Resolved Question:

my husband and i are going to seperate the mortgage is still in joint names can i just remove his namewith his cosent from the property register and then the property will just be registered to me
Submitted: 3 years ago.
Category: Property Law
Expert:  Thomas replied 3 years ago.
Hi,

Do you have a mortgage on the property?

Kind regards,

Tom
Customer: replied 3 years ago.

yes around £45.000 the property is worth about £110.000

Expert:  Thomas replied 3 years ago.

Hi

Thank you for your question and patience, I’m Tom and I’ll try to help you.

First of all, if you and you husband presently hold the house jointly (as joint tenants, rather than as tenants in common) then each person's share would pass to the other upon death regardless of any directon made in any Will. If this is not what you want then you should sever the joint tenancy by using Form SEV from the Land Registry (you will have to send it to them and if you have any questions about completing the form you should call their customer service number - they are very helpful):-
http://www1.landregistry.gov.uk/publications/?pubtype=49


You will then hold you interests as tenants in common, meaning that your respective shares will pass according to their wills or under the intestacy rules. Your partner need not sign the form provided you follow the instructions.

Unfortunately, because there is a mortgage on the property you can only transfer the registered title to the property in to your sole name with the agreement of the lender. They have a first legal charge which prevents you from transferring it without their consent. In order to get their consent you would effectively have to demonstrate sufficient finance to receive a mortgage offer in your sole name from them.

The other alternative would be to seek a court order that the property should be transferred in to your name as a result of the financial settlement in divorce (if you do divorce), but you would need to speak to a solicitor locally and give full instructions to see if they think this is a possibility

The further alternative would be to attend a local property/family solicitor and give them instructions to draw up a declaration of trust for both you and your husband to execute stating that although the property is in your joint names, it is you would has all the equity in the property. This is not ideal really, because it can be revisited in divorce proceedings but if you cannot get a mortgage offer in your sole name then it is at least an option.

I am sorry.

My goal is to provide you with a good service. If you feel you have received anything less, please reply back as I am happy to address follow-up issues specifically relating to your question.


Kind regards,


Tom
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