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Clare
Clare, Solicitor
Category: Property Law
Satisfied Customers: 34288
Experience:  I have been a solicitor in High Street Practise since 1985 with a wide general experience.
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My Son owns the property I live in; although I paid nearly

Resolved Question:

My Son owns the property I live in; although I paid nearly 50% of purchase price;and he is experiencing marital difficulties, and is liable to seperate/divorce.
The property was purchased in 2003, which was before he met his wife - they were married in 2004.
1. will his wife have any claim on the property?
2. if he were to pay off the mortgage he has on the property and gift it to me - transfer it into my name - what period of time would have to pass before his wife could have any claim at all?
Submitted: 3 years ago.
Category: Property Law
Expert:  Clare replied 3 years ago.
Hi
How much is the house worth and how much is outstanding on the mortgage - and why was the property put in your son's name?
Did you protect your investment in any way?
Clare
Customer: replied 3 years ago.

the house is worth in the region of £175,000.00, and the outstanding mortgage is approximately £80,000.00

Due to a failed business I was not in a position to get a mortgage and my Son helped me out

I have a lease agreement with my Son, drawn up by a Solicitor

Expert:  Clare replied 3 years ago.
Hi
is there a current risk of divorce?
Does the lease have an end date?
Clare
Customer: replied 3 years ago.

Hello

yes ther is a pending risk of divorce

no the lease does not have an end date

Brian

Expert:  Clare replied 3 years ago.
Hi
The first thing to say is that there is no action that can now be taken to change the ownership of the property that the court could not reverse
Having said that whilst the fact that your son does own this property will be taken into account within the Divorce proceedings the fact that you live there and it cannot be sold - and that if it was you have a beneficial interest in it since you paid for half of it means that she cannot force a sale and will not be awarded a share of it.
However what is likely to happen is that she will be given a slightly larger share of the other assets instead
I hope that this is of assistance - please ask if you need further details
C;are
Clare and other Property Law Specialists are ready to help you
Customer: replied 3 years ago.

Hello and thanks for quick reply

I may have misled you in my last answer - no seperation or divorce proceedings have yet taken place, but my Son is sure that the situation will arise in the future, and could well be fairly imminent.

Brian

Expert:  Clare replied 3 years ago.
Hi
My apologies for the delay.
That does not change the position at all
Clare