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Thomas, Solicitor
Category: Property Law
Satisfied Customers: 7660
Experience:  UK solicitor holding an England and Wales practising Certificate.
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My husband has incurred a charge on our jointly owned house

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My husband has incurred a charge on our jointly owned house because of a business debt to his bank will I be able to change from joint owners to tenants in common.?

Yes, you will be able to sever joint tenancy so that you hold as tenants in common. A charge registered against the property in the form of a restriction does not prevent a registered proprietor from changing the way in which they hold thier interests in the property.

If you did not sign the personal guarantee from which the debt has resulted then you have not incurred personal liability and it will only be your husband's interest in the property which can be claimed against by your husband creditors.

The extent of your interest in the property will be protected and not reduced buy the debt claimed.

Kind regards

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