How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask chatham-chamber Your Own Question

chatham-chamber
chatham-chamber, Solicitor
Category: Property Law
Satisfied Customers: 11614
Experience:  LL.B, Pg.Dip, LL.M, M.B.A (Pending), Solicitor-Advocate. UK Practising Certificate issued by SRA., DIFC Courts Registered (Dubai)
12179604
Type Your Property Law Question Here...
chatham-chamber is online now

My wife & I have built a house in the garden of our house.

Customer Question

My wife & I have built a house in the garden of our house. We would now like to split the title into two separate titles - one for each house. We would like to hold both titles in our joint names but have been advised that this is not possible due to covenants on the original land title. Apparently it is not possible to pass the covenant onto ourselves as part of the transfer - ie we are not able to transfer the ownership of the new title to ourselves. We have lined up 2 mortgages for the two properties but need both titles to be in out joint names to complete on the transfer and the mortgages. Is there a way around this as it must have been done before. Regards
Joe
Submitted: 6 months ago.
Category: Property Law
Expert:  chatham-chamber replied 6 months ago.
Hi, Is there a way you can transfer one of the properties either into a sole name or a company name?
Customer: replied 6 months ago.
Not really. We do not want to transfer into a ltd company and putting into a sole name would invalidate the mortgage offers which are in joint names.
Expert:  chatham-chamber replied 6 months ago.
Hi,Unfortunately, I cannot see a way around this. You cannot transfer a property you already own in joint names to yourselves. It would have to be to either a sole name or a company. This would require your current lender to release part of the title from the existing security to form a new title for the house that you have built.You may be able to obtain a bridging loan and then re-finance into your joint names later. This by no means constitutes financial advice and I would strongly suggest that you obtain financial advise from a regulated financial advisor.I hope this answers your question. If so, kindly rate the answer and provide feedback.If you have any further questions, please do not hesitate to ask.Kind regards,

What Customers are Saying:

 
 
 
  • Thank you so much for your help. Your answers were really useful and came back so quickly. Great! Maggie
< Previous | Next >
  • Thank you so much for your help. Your answers were really useful and came back so quickly. Great! Maggie
  • A quick response, a succinct and helpful answer in simple English. I believe I can now confront the counter party with confidence -- worth the 30 bucks! Rick
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C.
  • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex
  • Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult. GP
  • I couldn't be more satisfied! This is the site I will always come to when I need a second opinion. Justin
  • Just let me say that this encounter has been entirely professional and most helpful. I liked that I could ask additional questions and get answered in a very short turn around. Esther
 
 
 

Meet The Experts:

 
 
 
  • Remus2004

    Remus2004

    Barrister

    Satisfied Customers:

    2427
    Over 5 years in practice.
< Last | Next >
  • http://ww2.justanswer.com/uploads/EM/emus/2015-7-7_192327_bigstockportraitofconfidentfemale.64x64.jpg Remus2004's Avatar

    Remus2004

    Barrister

    Satisfied Customers:

    2427
    Over 5 years in practice.
  • http://ww2.justanswer.com/uploads/TG/TGraham12/2012-7-17_81212_bigstockBusinessHandshake508163.64x64.jpg Thomas's Avatar

    Thomas

    Solicitor

    Satisfied Customers:

    414
    UK solicitor holding an England and Wales practising Certificate.
  • http://ww2.justanswer.com/uploads/KA/Kasare/kasare.64x64.jpg Kasare's Avatar

    Kasare

    Solicitor

    Satisfied Customers:

    42
    Solicitor, 10 yrs plus experience in civil litigation, employment and family law.
  • http://ww2.justanswer.com/uploads/OS/osh/2015-7-7_19268_gettyimagesb.64x64.jpg Joshua's Avatar

    Joshua

    Lawyer

    Satisfied Customers:

    4708
    LL.B (Hons), Higher Prof. Dip. Law & Practice
  • http://ww2.justanswer.com/uploads/AS/Aston Lawyer/2013-10-8_19517_JAPROFILEPICTURE.64x64.jpg Aston Lawyer's Avatar

    Aston Lawyer

    Solicitor

    Satisfied Customers:

    1823
    LLB(HONS) 20 years of experience in dealing with Conveyancing and Property Law
  • http://ww2.justanswer.com/uploads/CH/chathamchamber/2011-4-24_191833_1.64x64.jpg chatham-chamber's Avatar

    chatham-chamber

    Solicitor

    Satisfied Customers:

    828
    LL.B, Pg.Dip, LL.M, M.B.A (Pending), Solicitor-Advocate. UK Practising Certificate issued by SRA., DIFC Courts Registered (Dubai)
  • http://ww2.justanswer.com/uploads/CL/clairep80/2013-8-25_191218_dreamstimexs267279822nd.64x64.jpg Clare's Avatar

    Clare

    Solicitor

    Satisfied Customers:

    241
    I have been a solicitor in High Street Practise since 1985 with a wide general experience.