Ex buying me out of joint property - occupiers consent and postponement deed

[NoMoreLimbo]

Hi all.

Could someone please tell me that this is okay to sign.

My ex partner and I jointly own our home. We have agreed that he will buy me out and the sum I will get. So, he is getting a remortgage for this. We are quite far down the process and I have already signed the transfer deed which goes to land registry, but my conveyancing solicitor has said that it is held until the money has been transferred to me. Now I need to sign this ’occupiers consent and postponement deed’ from his new bank as I am still living in the property until my purchase has come through on a flat I am buying. I am concerned I am putting myself at risk of not receiving my ££ equity share if I sign this. I think it is a pretty standard document to sign though. My conveyancing solicitor will not answer a single question on it unless I cough up another £300 +VAT

That’s lawyers for you!

How long do you think the flat will be? Is he still in the property too? Personally I would be trying to find temp accommodation but it depends on perception of timescale..

Otter... the flat can't complete until the transfer of current property takes place........ How long is a piece of string.

Isn't the situation like most property buying chains??

You normally need to sell in order to buy your next place.

In this case can't you time the selling of your current property (albeit to your ex) and buying the new one and therefore complete both transactions on the same day?

Hope you have had an answer but don’t rely on unqualified people on the internet OP.

I had this situation- exh bought me out of our old family home. The money was transferred on the day of purchase of my flat. Hence, no need for the occupiers form. It was stressful because even on the week of the planned flat purchase he said he might not give me the money! Which was ridiculous because it was all agreed in the consent order and would just have resulted in us living under the same roof for longer.
I did do a transfer of ownership on the marital property.

Conveyance by trade. You should receive you share of the mortgage proceeds and then his solicitor will be sent the transfer -TR1 you've signed. Your solicitor then pays you the equity/money and you use it to buy your new property.

No need for you to sign an occupiers from if you move out on the date he completes the re-mortgage.