I would like claire, who I have been corresponding so far to answer this question, which is a follow up on what we have been discussing so far. otherwise I have to start again. It as already happened once (i had intially started with a different solicitor and then claire did the follow up), and it is a real waste of everyone's time as the new sollicitors need to have all the infomation again, while I only need to clarify Calire's last points. Also the question is quite urgent, as I am abroad and travelling in the next few days, so I would really appriciate if you could pass this on asap, many thanks enrica
I don't understand isn't Clare available? In her last reponse she said:
If you need more help, then do please use the reply tab to continue our conversation.
And I have replied in:
Ask me (Clare) a new question.
thanks a lot for the range of options you sent. We will be studying them and look at the implication of each, and I might get back to you when I am back in London next week to continue our conversation.
Meanwhile just a few quick clarifications:
1. We have been looking at the TR1 and there was a point which was unclear:
The transferor transfers with
full title guarantee
limited title guarantee
what is the difference?
2. You said a Declaration Of Trust has no force in the event of Divorce. Do you mean if my husband would like to disregard it? Would we be able to divorce with him recognizing that I have been paying all the mortgage of this particular property and therefore have the right to the full benefit from it?
I am a bit confused about this. If I have been paying the entire mortgage of our joint property (and he states so in writing) why if we divorce this should not be recognized as a fact?
Thanks for clarifying,
sorry to take so long to get back to you, but since I came back to london I have been very busy.
I have now look more in details at your different suggestion and would like to advice me on a few matters.
1. The TR1 is a form to transfer the whole of the registered title, but the title is on both our names, we are bot Registered Owner(s). Can we still use this form and how should we clarify that he's transferring his co-title to the co-owner?
2. What are the fiscal implication of the transfer? Will I have to pay a tax for part transferred to me.
3. Do we have to inform the mortgage of this change in the title deed.
4. We have a joint mortgage on the property. Can we keep it in both name, if Mauricio transfers his art of the ownership to myself.
many thanks for clarifying
If we opt for the Declaration of trust, will I be able to sell/re-mortgage on my own (with a power of attorney). from your previous answer it wasn't clear i could do this. Could you clarify?
Eventually, how do we go about asking the permission of the mortgage lender? Can I write to them to inform them of our decision? Could they object? Could this put our mortgage (which is a very good interest-only life tracker) at risk? Will we need to remortgage?
Can they refuse or reconsider the term of our mortgage? Is there a risk in approaching them with this idea? We are very happy with the kind of mortgage we have (this is a life tracker then normally will continue till the end of the loan) and will not like to change it.
What would the fee be for? Any idea of the amount? is there a sample form one could look at?
many thanks for your patience.
do we need to see the mortgage company together or can I go on my own? As one of the problem is that my husband is not living in England at present....