Clean Break & Joint Owner related queries

[sumleo]

Hi there,
I am very sad and depressed as I am going through a divorce of no fault of mine.
However following are the queries I am looking for the answers for.

1.) Me and wife currently live in a mortgaged house as joint owner. My wife has agreed to get her name removed from the mortgage as well as title deed. She also agreed that she dont need any money from me for the house.
How do i get this achieved. because normally the discussion which i read, there are talks about tranfer of equity. but in this case my wife don't want any equity transferred.
I want to be in a condition where post divorce if i feel like i can sell the house and don't have to give my ex-wife any money should she change her mind in future.

2.) Clean break : She does not want any money from me and saying why to go for financial order. But for my own future financial security, i was a clean break.
Can we have a clean break order where wife says she requires nothing from me?
will that be approved by the court?

thanks
Leo

Completely depends on overall assets, situation, whether she’s had independent legal advice etc

why would she agree to walk away with nothing ?

its her fault that divorce is happening. also i dont have any saving.
i can pay the mortgage and bills though but thats about it. And my kid wants to live with me in the same house.
She is also working so can take care of herself financially.

So she has agreed for the sake of kid and breaking marriage that she will let me keep the kid in the house and she needs no money from me.

But i want to thougrougly secure incase she changes her stance tomorrow ( because trust was the issue that is breaking our marriage!)

thanks
leo

Well the split of the assets has to be fair and it has to take into account the needs of the children. Who had an affair and whether you resent that or she feels guilty about it doesn't come into it. Do yes the judge would reject a settlement on that basis.
You're wise to get the finance side pinned down. Although a clean break might not be right for you if you want to stay in the house.
Can you afford the mortgage in terms of passing their affordability checks?

Doesn’t matter whose fault it is
what matters is a fair financial outcome in the eyes of the law

if a judge is to sign off a clean break they will need to be satisfied that financial disclosures have been made and that both parties have sought independent legal advice

how much equity is there? What other assets?
if we’re talking 10k type figures that one thing
if you’re talking hundreds of K that’s a different ball game

has a mortgage company agreed for you to take over the mortgage as a single appliancant?

what are your plans re child arrangements?

and btw divorces rarely are a result of one person alone …..

1.) yes i can pass the affordability check and pay the mortgage by myself.

what is financial order, it is not just a letter where me and my wife agree on a amount which she is satisfied with?
or does it require all the evidences of what she possess and what I possess?

if we require to attach all our possession which include house equity, does it mean I would need to pay 50% of the equity straightaway or within sometime even if I am not selling the property? or does it mean that she gets the 50% when i sell the property which could be say 5 or even 10 years down the line?

thanks
Leo

You should both be dusvoisjbg all assets and liabilities
a letter is meaningless
tiy need a legally sealed consent order - and for that you’ll both need to demonstrate you’ve had independent legal advise
an order to award 100:0 is very rare and very unlikeky

there are many variables and many possible outcomes which is why you need a solicitor

I think a judge would want to speak to you both as he/she would be wary that your wife had been guilted, pressurised or coerced into agreeing something so unfair.