I just wondered if anyone here had been in this situation before and would really appreciate some advice if so.
In the process of separating, we are not married. Purchased a house a few years ago as joint tenants (I.e. 50/50 share) with no deed of trust.
I would like to stay in the property however, unfortunately I won’t meet the qualification to take over the mortgage on my own for almost a year.
My ex-partner owes me repayment of an informal loan and as he does not have funds has agreed to give me the larger share of the property ...I understand this can be done via a deed of trust while both parties are still jointly responsible for mortgage payments (and that a solicitor, as part of this service can also change the ownership to tenants in common which would allow the unequal share). The deed can also include a clause to indicate that if I don’t take over the mortgage by a certain date the property will be sold on the open market (which I accept).This seems worryingly simple...am I missing anything?