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Clare
Clare, Family Solicitor
Category: Family Law
Satisfied Customers: 35215
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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I'm currently going through a divorce and have just agreed a

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I'm currently going through a divorce and have just agreed a price with my wife to remortgage the house so that I can buy her out and release her share of equity. There are other financial issues which still need to be settled, possibly in court if we cannot agree between ourselves. My question is: Once the house has been remortgaged and I am the sole owner, do I legally have to hand over/release half of the price [equity] of the house if I am contesting other financial issues, or can I hold onto her equity until the other financial wranglings have been agreed upon?
Thanks
Mark

My name is ***** ***** I shall do my best to help you.

It will not be possible for you to do this as it will be a requirement of your remortgage that the payment is made to your ex; and the conveyancer will not be able to use the TR1 signed by your ex unless they release the funds to her

I am sorry that the news is not better - please ask if you need further details

Customer: replied 15 days ago.
Ok I understand. So what would be the procedure to reclaim a portion of my wife's share. Would it be to take her to court?

That should be dealt with within the Financial side of the Divorce proceedings and decided by the court if necessary

With regard to the question on your other thread, when calculating the potential settlement on the house it is usual to include "notional sale costs" in the calculation as, if and when you sell the house, you will have to pay them

Clare and other Family Law Specialists are ready to help you