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JGM
JGM, Solicitor
Category: Scots Law
Satisfied Customers: 11546
Experience:  30 years as a practising solicitor.
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I have a signed, registered separation agreement in Scotland

Customer Question

Hi
I have a signed, registered separation agreement in Scotland with my husband, whereby he received a cash sum in return for me retaining the house. It states that the transfer of the property should be in my sole name. Does that mean I cant remortgage in joint names with my partner? I wont get a mortgage on my own income.
Submitted: 2 years ago.
Category: Scots Law
Expert:  JGM replied 2 years ago.
Thank you for your question.
You can deal with this quite easily. Your husband and you execute a deed putting the property into your sole name. You then execute a deed by you in favour of you and your partner. These deeds along with a discharge of the current security and the new security in favour of the new mortgage holder can all be registered simultaneously.
That means the Minute of Agreement is followed but once the deed passing title to you is delivered, the title can be transferred to you and your partner. The actual legal effect is that the title will be registered according to the last title, ie, the joint title to you and your partner. The earlier deed to you alone is just used as a link in title.
I hope this helps. Please leave a positive response so that I am credited for my time.
JGM and 2 other Scots Law Specialists are ready to help you
Customer: replied 2 years ago.

Do I need to have a mortgage approved in my sole name in principal for this initial transfer? Many thanks

Expert:  JGM replied 2 years ago.
Absolutely not. The initial transfer simply for a link in title to th second and both will be processed simultaneously.
Customer: replied 2 years ago.

I have now discovered that I cant get a mortgage in either sole or joint names. The house is worth £220k, the mortgage is £160k. Can I sell the house to my partner for £160k and let him use my equity as his deposit?

Expert:  JGM replied 2 years ago.
Yes you could do it that way, called a gift of equity.
Customer: replied 2 years ago.

Do I need my X to sign anything to complete this sale?

Expert:  JGM replied 2 years ago.
If the house is in joint names he has to sign the title deed passing title.