Crosswords1 min ago
Transfer of equity!
Myself and my husband have recently split up. I am in the process of buying him out and having his name removed from the deeds to the house. I was going to have a contract drawn up saying that when we do get divorced he has no claim on the house as it has already been sorted. The solicitor dealing with the remortgage has advised me that it the contract would be worth nothing when we get divorced. Is this right and will he still be able to have a claim on the house even though I have already bought him out and had his name removed from the deeds????
Please help!!
Many thanks : )
Please help!!
Many thanks : )
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In most cases the assets you own both jointly and individually must be divided. (Not necessarily equally, but they must all be put into the "pot"). This means that the house that you now own will form part of your combined assets which are eligible for distribution.
Of course, the cash that he received from you also goes into the pot (unless he has spent it, and even then, if the matter goes to court, the court may decide he has had the benefit of it so it must be considered).
Of course, the cash that he received from you also goes into the pot (unless he has spent it, and even then, if the matter goes to court, the court may decide he has had the benefit of it so it must be considered).
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