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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 Ex out of the house

7 replies

sophmum31 · 28/04/2023 14:17

My ex husband and I have been divorced for a few months and as part of the divorce agreed that the house would be sold and the split 70/30 in my favour. The house has been on the market since october. Also, the house is in his name alone. As we are having trouble selling I wanted to investigate the possibility of buying him out. I could probably just about afford it and he has brought a house with his new partner so wants his money out of this house. So my questions are, can I buy him out as it stands as the property is in his name and it was agreed in the consent order the house would be sold, and would i have to pay stamp duty if I did? I would have to pay him approx £130k.

OP posts:
millymollymoomoo · 28/04/2023 14:22

Have you got a mortgage lender who has agreed to you taking it on in your sole name at the values needed?
mid so, likely to be able to buy him out ( if he agrees values)

Original poster
sophmum31 · 28/04/2023 14:30

I don't have a mortgage currently as it's all in his name, I can get a mortgage to cover what I need it's just if it is possible with me not owning any of the house currently

OP posts:
FinallyHere · 28/04/2023 15:14

it's just if it is possible with me not owning any of the house currently

If you can agree the price, it's a simple sale from him to you.

Agreeing the price tends to be the difficult part. Good luck.

LJane88 · 30/04/2023 02:58

Surely you just need a mortgage for the 130k then to buy him out. As the house is deemed a marital asset or at least it is now it has been agreed by the consent order could you not just get the mortgage and transfer the deeds from one person to the next. I don’t think you would need to pay stamp duty no. if you speak too a mortgage advisor first see if you can get the financials sorted I don’t think this would be overcomplicated at all

Kay286 · 30/04/2023 03:07

What the total value of the house ? If it’s been on the market since October and not sold I t’s probably less than you think ? But to buy him out you’d need to be able to raise mortgage for whole amount …. Do you have a deposit ? Yes you’d need to pay stamp duty

LJane88 · 30/04/2023 08:26

I’m divorcing and in the process of buying a house. It’s depends on the properties price. If it’s below the threshold you won’t have to pay. I’ve had that confirmed by a solicitor, divorce or intention to divorce means it’s not classed as a second home

Suzi9989 · 30/04/2023 10:03

Probably obvious, is the house currently owned out right by your ExH? If this is the case then you will need to go back to your solicitor and draw up the sale once you have the mortgage in place

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