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Occupier's consent and postponement deed - Ex buying me out of joint property

1 reply

NoMoreLimbo · 06/02/2019 12:26

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

OP posts:
prh47bridge · 06/02/2019 13:10

The new bank wants this to ensure it can repossess the property if he defaults on the mortgage. If you don't sign it he won't get the mortgage so won't be able to buy you out.

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