Donate SIGN UP

Another query about getting name of mortgage

Avatar Image
stepper | 16:55 Mon 01st Aug 2011 | Civil
0 Answers
My son got divorced two two years ago. As part of the divorce settlement he agreed to transfer the house into his ex wife's name. He has remained on the mortgage since but has not paid anything. His wife has been cohabiting for two years.

The building society have now come back with the suggestion that he can transfer the house into his ex. wife's name but he remains liable for any debts that might ensue. He has been asked to sign an agreement to this.

If he does so, it would mean that his wife owned the house outright and could borrow more money without referring to my son. He would be liable to any of this new debt as well as the old.

He is going to suggest that she remortages the house herself, sells the house and keeps any equity (there should be a small amount) or remortgages with her new partner.

Is there anything else he can do.
Gravatar

Answers

rss feed

Best Answer

Nobody has yet answered this question. Once some answers have been given, stepper will be able to select one answer as the best. Once a best answer has been selected, it will be shown here.

For more on marking an answer as the "Best Answer", please visit our FAQ.
There are no answers available for this question.

rss feed

Do you know the answer?

Another query about getting name of mortgage

Answer Question >>

Related Questions

Sorry, we can't find any related questions. Try using the search bar at the top of the page to search for some keywords, or choose a topic and submit your own question.