We are getting divorced and my husbands solicitor has suggested that a way to 'settle'the house 'dispute'...is that my husband takes on the mortgage ....and i still have a 50% share of it when sold etc
i've checked this out...and in principle ... like the idea....
here's what i found out on a government website
"The property is transferred to one of you but with the other spouse or civil partner retaining an interest so that they receive either a set percentage or sum of money from the sale of the property when it is sold at a certain point in the future. That interest can be protected by registering a charge against the property at the Land Registry"
but...what happens if he does't keep up the mortgage payments and is repossessed. 50% of nothing is not a lot.
(he is self employed ...so income not guaranteed...and is a gambler)
I'm posting this in legal section too.... any solicitors around???
I see my solicitor for my 1st 'free' appt this week...so just wanted to ask this now...the wonders of the mumsnet gurus!