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What are we each entitled to in our divorce settlement?

What does the law say about how to split the house, how to share pensions and other assets, and how much maintenance is payable.

What steps can we take to reach a fair agreement?

The four basic steps to reaching an agreement on divorce finances are: disclosure, getting advice, negotiating and implementing a Consent Order.

What is a Consent Order and why do we need one?

A Consent Order is a legally binding document that finalises a divorcing couple's agreement on property, pensions and other assets.


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Delayed transfer of house to wife

  • Stroop
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03 Feb 08 #12660 by Stroop
Topic started by Stroop
I have a consent application that states that my wife is to have 100% equity ("beneficial interest") of the house (which we agreed). However, since she does not earn enough to 'own' the mortage, my name is still on the mortgage and the application says that she will "endeavour" to transfer the title deeds and mortgage into her name.

Should I stipulate that currently we we shouod have 50% each in beneficial interest until such time she transfers the mortage into her name?

  • attilladahun
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03 Feb 08 #12738 by attilladahun
Reply from attilladahun
No
Since the date of the order whilst your name is still on the deeds you are in essence holding your 50% share as trustee for her.
Theoretically the mortgagees should be told of the order as should the house insurers

As she will have undertaken to use her best endeavours to apply to seek to release your covenants she must attempt to do so when gets increased pay or has co habitee or her finances improve eg if she inherits.

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