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Ask Clare Your Own Question
Clare
Clare, Solicitor
Category: Property Law
Satisfied Customers: 34236
Experience:  I have been a solicitor in High Street Practise since 1985 with a wide general experience.
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Is it possible to put our home just in my wife's name and

Customer Question

Is it possible to put our home just in my wife's name and would this then protect our home against any creditors I may have?
Submitted: 12 months ago.
Category: Property Law
Expert:  Clare replied 12 months ago.

Thank you for your question

My name is Clare

I shall do my best to help you but I need some further information first

Is there a mortgage on the Properties?

Are you already in debt?

Customer: replied 12 months ago.
there is a small mortgage on the property in both our names.
Yes I have credit card debt, an overdraft and a personal loan.
Customer: replied 12 months ago.
The property is our home
Expert:  Clare replied 12 months ago.

You would need the agreement of the Mortgage Company to Transfer the property, and it will not help in protecting you from any debts that you already have.

In addition if you go bankrupt within the next five years the Transfer can be reversed by the Trustee in bankruptcy

I hope that this is of assistance - please ask if you need further details