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Divorce/separation

Here you'll find divorce help and support from other Mners. For legal advice, you may find Advice Now guides useful.

Original poster

Buying out - equity snd deposit back?

2 replies

askii · 05/04/2023 15:06

Can't seem to find an answer to this online, wondering if people can help/have any experience of this?

Looking to have property transferred to my sole name from joint names. If expartner does not agree to this, it'll go to a buy out. If I am buying them out, does my deposit (considerably more) and half of equity cone directly back to my bank account or is this just added on to mortgage?

OP posts:
WestminsterAbbey · 05/04/2023 15:15

Depends what legal agreement you have in place and how the property is held? Tenants in common? https://www.gov.uk/joint-property-ownership

worse case you need to have enough income to get a mortgage with 50% of equity as a deposit

Joint property ownership

Check if you're a joint tenant or tenants in common. Change from joint tenants to tenants in common, or tenants in common to joint tenants

https://www.gov.uk/joint-property-ownership

WestminsterAbbey · 05/04/2023 15:15

You cant just have it transferred if you have a mortgage

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