How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • Go back-and-forth until satisfied
    Rate the answer you receive.
Ask ChrisB4147 Your Own Question
Category: Family Law
Satisfied Customers: 104
Experience:  Expert
Type Your Family Law Question Here...
ChrisB4147 is online now

My wife and I are mitigating our divorce, as part of the

This answer was rated:

Hi my wife and I are mitigating our divorce, as part of the divorce settlement she is to buy me out of the mortgage.
i recently received this TRANSFER OF EQUITY FORM FROM OUR LENDERS, however can you tell me if this is a part of a buy out process, I want to make sure that am not just transferring my rights of the deed to her ONLY and without 50% share equity being paid out to me

Hi, thanks for the question.  I’m Chris and I’m a Solicitor in family matters. I will be happy to assist you and hope to provide a full response as quickly as possible.

This is a question and answer service rather than an instant chat service, and I may not be able to reply immediately. However, rest assured that I am dealing with your question and will get back to you as soon as I can.

I’m sorry to hear about the situation you find yourself in. The Transfer of Equity forms are to transfer the property from your name to hers. If you have a look at the ‘consideration’ section it will tell you if the transfer is being done in exchange for any money or not.

Customer: replied 4 days ago.
Hello here is the form I received PLEASE CHECK THIS AS I AM UNABLE TO LOCATE THE SECTION 'CONSEDERATION' as you have stated

Thank you for this. I was at Cross purposes, I thought you had a transfer form to complete which would deal with the transfer of equity. I note that it is an application form for that purpose. If your wife is taking on the property owner then she will course need to complete this document and you simply need to consent to the transfer. Whether you do this for any money or not is a matter for you. What is the rationale for you not getting any money out of this transfer?

Customer: replied 4 days ago.
Okay that clarifies that, so as its just the application form for the Transfer of equity purpose, all sections on this form should not be relevant to me right. The only part that I need to fill in is the section for 'Present Burrowers' right, as I dont need to put in information of salary etc etc. As im not the one buying her out nor taking additional loan to mitigate this
Customer: replied 4 days ago.
please find attached form sent from the our Lenders

Yes that’s correct. All down to her now. You’ll just have to sign the Transfer as well at a later date. You should ensure that you enter into a financial order agreement as part of the divorce process. This will reflect the agreement reached between you both with the finances and assets, but it will also give a clean break which means that neither of you will be able to claim against the other in the future. This will protect any future assets you accrue.

Customer: replied 4 days ago.
the financial order is already with the court, I'm hoping the case is heard this month as due to the current pandemic the process was started since September 2020

Glad that it's in.  You are already ahead.  Yes, they have been very slow at the court.  I hope that I have answered your questions sufficiently.  If you need anything clarified, please let me know.  All the best and thanks for using JustAnswer.

Customer: replied 4 days ago.
one more thing are u able to act as my solicitor during this process as and when its required?

Sorry, we don't offer that service, we are just a question and answer service.

Customer: replied 4 days ago.
ok any further questions i get stuck on wll let you know. thanks
Customer: replied 4 days ago.
ok any further questions i get stuck on will let you know. thanks

No problem.

ChrisB4147 and other Family Law Specialists are ready to help you
Customer: replied 4 days ago.
what are my chances? we agreed to 50/50 child care for our 2 boys 1 week on and 1 week off, i am self employed and have to be out to carry out my services as a courier, she works from home at the moment whether that will change as lockdown eases i'm not sure. How easy is it for a judge to grant this arrangement. will the judge look at who is able to be more opportune to care for them i.e. more time with them, although if she wasn't able to work from home, she would also be out during the day like myself
Customer: replied 4 days ago.
our boys are age 11 and 5 and currently at school, the 11 year old will start secondary school September and so he will be able to walk o school himself, the 5 year old will still need to be dropped off at school and picked up etc

We’ve now moved on to different subject matter. I can continue but would need to offer you a premium service fee.