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Query about separation (not married) and property in Scotland

3 replies

goodthinking99 · 05/09/2021 08:33

I'm finally (after ten years Blush) sorting out separating assets from ex-partner. We split up in 2011 but kept things static from that point to now in regards to properties because I maintained, and paid in full for, the family home for DD and we (ex partner and I), almost, amicably managed two rental properties that had been our homes before we moved in together in 2006.

I am now buying a house with new (well, of eight years standing!) partner. This has led to ex and I meeting with a mediator and drawing up a list of assets, and who owes what to whom to ensure a fair split. So far so good. Hypothetically if I sell family home I will give him an agreed sum and we will keep one of the rental flats each as they are of equivalent value.

The three properties currently have mortgages in our joint names. If he was to take over ownership of the family home, and I was to take ownership of the two rental flats that would be equivalent to all flats being sold and proceeds split equally.

My question is this; can we just agree to change the mortgages to sole names (him for family home that he is interested in moving back into and me for the two rental flats, one of which I would sell to raise funds for new house with partner)? Or is there something else that needs to be done to establish sole ownership for each property?

We are both keen to agree an arrangement without incurring lots of legal fees as even with the three properties in hand the assets are not of great value once existing mortgages are taken into account.

We live in Scotland.

Thanks in advance for any insight!

OP posts:
ProseccoThyme · 11/09/2021 10:59

It's not exactly the same thing, but I recently separated from my partner & also own my own rental property.

He bought me out the family home & the transfer of title cost us around £1K each in legal fees.

I didn't pay Additional LBTT on my new place as the timing of the title transfer was arranged to avoid it.

A good conveyancing solicitor will keep you right. I have contact details if you are in the Edinburgh area

goodthinking99 · 13/09/2021 21:24

Thanks ProssecoThyme that sounds like the kind of thing I'm imagining could happen, if we agree on the principle of the split in assets. Which firm would you recommend?

OP posts:
ProseccoThyme · 13/09/2021 22:43

I've just used Allan McDougall McQueen for that - both in terms of family law & property.

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