transfer of equity ahead of divorce

[deewillow]

Hi, I'm a newbee to this forum. Recently separated from dh (married for 10yrs) and have 7yr dd. Fairly amicable split, both want to go the route of 2year separation b4 divorce.
As part of split, I have stayed in family home and taken on all costs incl mortgage, he is in rented accomm, with new partner and has stopped paying anything towards it.
We have agreed to transfer all of house into my name only. Currently about 6yrs left on mortgage (£41k) which I can afford to continue with, and about £130k plus equity in the property.
In return for his 'interest' in the house, we have amicably agreed that I give him £15k to buy him out.
I have ok'd this with mortgage company, got all the required forms etc and feel happy with everything, but a couple of friends and relatives have recently sown some seeds of doubt.....
after we have done this transfer, can he change his mind? for example if we divorce in 2 years time, can he then ask for more of the house? because his circumstances have changed or he needs more capital etc?
He will also being paying me a minimal amount of maintenance for dd - prob £70 a month or so, because he is giving up such a large % of the house to me.
Am I being a bit simplistic with this arrangement? I want things to stay agreeable between us because of dd, and have no intention of 'grabbing everything I can'. I do work part-time and have a job that I can increase to full time when I am ready for it.

Sorry its a bit long winded - just interested in anyone elses experience or expertise on the this before I shoot myself in the foot!

Don't think you're being simplistic and it sounds like you're dealing with this very well. I would visit a solicitor and just explain as you have written here - I'm sure it's feasible to do the financial settlement before the ACTUAL divorce, so should not be an issue.

Hi, your friends are correct to be concerned.
Even though your DH is transferring all the equity to you, the property will still be a matrimonial asset and therefore form part of the matrimonial 'pot' and therefore potentially up for grabs as it were when you divorce. This is because as you are not divorcing at this stage, the agreement reached between you is not legally binding and any claims you have against each other have not been dismissed. If this sort of agreement was reached on divorce and incorporated into a Consent Order and approved by the Court, then the agreement would be in full and final settlement as there would be clauses in the Consent Order dismissing all other claims which would mean that neither of you would be able to make any further claims against each other.

Your best option if you intend to divorce in two years, is to enter into a separation agreement now. You can set out in the separation agreement all the information regarding the transfer of equity, maintenance etc and although this would not be 100% watertight, it would give you (both) a lot more protection and then once the two years is up, you can then issue proceedings on the basis of the 2 years separation and a Consent Order can be drafted at that time setting out the financial agreement reached which can then be lodged at the Court on pronouncement of Decree Nisi (the first of two decrees) which will then be legally binding.
If you do not do this, you run the risk that in two years time he may decide he wants a share of the house and the fact that you had agreed he gave up a large % for crap maintenance will not really be taken into account and he could end up claiming a share of the house, either in the form of a chargeback (to be paid to him at a later date) or you may have to pay him a lump sum at that time or potentially even sell the house if you could not afford to pay him off at that time.

You need to find yourself a family lawyer (preferably a member of Resolution - formerly SFLA) in order to protect your position. Good luck

thank you both for replies. There is obviously more to think about than I first thought.

Message withdrawn