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ukfamilysolicitor, Family Solicitor
Category: Family Law
Satisfied Customers: 1382
Experience:  Divorce, Finances, Children, Domestic Violence, Care Proceedings
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Currently remortaging my property into my wifes name only where

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Currently remortaging my property into my wifes name only where do I stand legally as regards ***** ***** and beneficially if we split up?
Thank you for your question.
I note that you are married. If you and your wife were to split up and divorce then the correct process for dealing with the matrimonial finances and division is to go through a process known as full and frank financial disclosure. Yourself and your wife would need to exchange full details of all assets ( including pensions) and liabilities before negotiations take place in relation to settlement. When you are married it does not matter whose name the properties are in - all assets and liabilities would be included.
The normal rule for division is 50/50 however the matrimonial causes act sets out factors which could lead to a departure from this rule. A few examples are the likely earning capacity of both of you for the future, health needs etc. The length of the marriage and the future care of any children would also be considered.
If you were to separate then the first step would be to make a referral to a mediation service. They can assist in relation to the process of disclosure and also in relation to negotiations about division. One such mediation service is the National Family Mediation service.
If agreement could not be reached then an application would need to be made to the court. You can not make an application to the court until you have at least attempted mediation first.
It would be important that no division took place until a court order had been obtained. If division is agreed without the need to apply to court then you should submit a consent order for Judicial approval prior to division and obtaining decree absolute. Not doing so could leave you open for a future claim.
You would need to have obtained decree nisi (in divorce proceedings) before a court can make an order or approve a consent order.
Either or you are able to make a financial claim if the future if you did not resolve the issues.
If you were to separate and the matrimonial property was in your wifes sole name then you should consider applying for a Matrimonial Homes Right Notice from the Land Registry. This service is free of charge and you would complete a Form HR1 and post it to them. The notice would be put on the register thus making if harder for your wife to deal with the property without you knowing.
Kind regards
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