I'm finally (after ten years
) 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!