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Clare, Family Solicitor
Category: Family Law
Satisfied Customers: 34889
Experience:  I have been a solicitor in High Street Practise since 1985 and have specialised in Family Law for the last 10 years
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Hi the problem I have is , I divorced 7 years ago and I now

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Hi the problem I have is , I divorced 7 years ago and I now have a new partner and we are looking to buy our own property . I recently discovered that our new home could be at risk if my ex wife defaults on the former martial home , I'm not on the deeds but I'm still on the Morgage as the Morgage provider won't take me off because I work full time and my ex wife doesn't . Would my new home be protected by this if it was in My partners name and have a joint tenants in common in place , with a ( if it exists) a legal contract drawn up to entitle me to a share if it doesn't work out . I have 2 kids from a previous marriage my partner doesn't , please help .
Thank you for your question.
My name is XXXXX XXXXX I will do my best to help you but I need some further information.
How likely is it that your ex will default at this stage and how much equity is there in the former matrimonial home
Customer: replied 4 years ago.
She hasn't so far but, she only works part time the Morgage is interest only and has been paid by her benefits . They have agreed to pay for as long as she plans to stay there ( no time limit ) unless she co-habits or re- marries . Then her partner would take my name off the Morgage . The property was bought for £135,000 and the last time it was valued it was £150,000 Morgage is £110,000 , I was paid my share of £10,000 so at least £15,000 equity left .
I can appreciate your concern - in the event of a default there is a real risk of negative equity - which would indeed fall to you to pay - however you woudl have to refuse to pay and go bankrupt before there is any risk to your new property.
However if even that small risk is too much the property can be purchased in the name of your new partner and your interest can be protected by way of a Declaration of Trust.
I hope that this is of assistance - please ask if you need further details
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