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Original poster

Signing house over

17 replies

Whatdoido17 · 04/03/2018 19:22

Myself and my H have two houses one we live in one we rent out, both with mortgages. He had an affair a few months ago and I’ve said I want him to sign one of the houses over to me completely. He is happy to do this but I am hoping to go back to college in September so wouldn’t be able to get a mortgage big enough to cover one of the houses by myself. Is there another way round this as I do need to have some security after what has happened.

OP posts:

Vitalogy · 04/03/2018 19:25

Get the mortgage before you start college, although you'll still have the issue of the mortgage payments.

Original poster

Whatdoido17 · 04/03/2018 22:20

He’d still be paying half of the mortgage so I wouldn’t need to worry about the money. It’s his proof to me that he wouldn’t cheat again but if I can’t get a mortgage is there any other way of the house being mine ie some kind of contract where upon sale I received the profits?

OP posts:

Longdistance · 04/03/2018 22:28

You’re married, so minimum 50% is yours.

Marriage is a strong legal contract where within time limits, everything is 50/50 regardless of who earns more/owns more/ has more 🤷🏼‍♀️

Original poster

Whatdoido17 · 04/03/2018 22:41

Thanks Longfaistance at the moment they are both 50/50 but i want one of the houses fully in my name so I have some security if we stayed together and he ever strayed again. I was just wondering if this was doable or if it was another empty promise from him because he knows I probably wouldn’t be able to get a mortgage to cover one of the houses in my own name.

OP posts:

Vitalogy · 04/03/2018 22:47

Oh right. I thought you were separating.

feral · 05/03/2018 07:02

I don't see the point. If both houses have a mortgage on and they're already 50/50 what's to stop him not paying the mortgage on the one in your name if you split up?

Original poster

Whatdoido17 · 05/03/2018 09:15

Vitalogy we still might be. This was something he wanted to do for my reassurance. Both houses have quite a lot of equity in so if i had one solely in my name I know I wouldn’t have to be worrying about money should he ever stray again. I wasn’t sure if the was something we could do where it stays as it is but should we split up because of him cheating again then he gives up his share of the equity in one house.

OP posts:

wysteriafloribunba · 05/03/2018 09:22

If you split up 50% of the properties will belong to each of you regardless of who has their name on the title deeds. So, even if you go to the trouble and expense of making the transfer you will still have to declare the property on Form E, and he will still have 50% claim on it. Works the same for any property that is solely in his name. You will have a 50% claim.

If the houses are currently 50:50 the he can't sell etc without your approval so you are protected.

I had similar worries. I was reassured when I spoke to a solicitor. I suggest you do the same.

wysteriafloribunba · 05/03/2018 09:25

Might be completely out of date but when I looked at this years ago transferring the property may trigger a stamp duty liability depending on equity value. Probably worth checking.

Original poster

Whatdoido17 · 05/03/2018 10:12

Thanks Wysteria. So looks like an empty promise from him then!

OP posts:

PhilODox · 05/03/2018 10:16

It won't help- on divorce, the split of assets and capital will be made, and you'd have to buy him our, even if it's 100% in your name.

Why are you staying with someone that cheated on you?
It sounds as though you still don't trust him.
Hope you're ok.

Original poster

Whatdoido17 · 05/03/2018 11:55

No I don’t trust him 100% but it’s very complicated so when he said he would do this I wasn’t sure if it actually meant anything but it doesn’t if everything will be split 50/50 if we split.

OP posts:

Firstworlddramas · 05/03/2018 12:05

Could you sell the rented house and you take all the equity now

You legally divorce, now but don't actually separate (unless you want to) then he would have less of a claim?

This would be dependant on it being split 50/50 and then him giving you his 50% - which he should be happy to do given the circumstance (and is what he was suggesting anyway)

If you survive together and remarry in future it would return to 50/50

Makes sense in my tiny head! 😂

So sorry you are facing this though, best wishes whatever you do

PhilODox · 05/03/2018 12:38

Do you have children? It won't necessarily be 50/50 if you split if you're the main carer. You need to try and see a solicitor.

JoJoSM2 · 05/03/2018 13:17

If you’re staying with him, then frankly I can’t see the point of changing names on the title deeds.

And as pointed out above, in case of divorce it gets split as marital assets irrespective of names of stuff but depending on other factors (like children).

RandomMess · 05/03/2018 13:24

Yes an empty promise!!!

Original poster

Whatdoido17 · 05/03/2018 13:42

I suppose I just wanted to have the reassurance that if we decided to make a go of things I’d have something to fall back on if he couldn’t stay faithful! Thanks everyone for your help!

OP posts:

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