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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.


Do you need help sorting out a fair financial settlement?

Our consultant service offers expert advice and support to help you reach agreement on a fair financial settlement quickly, and for less than a quarter of the cost of using a traditional high street solicitor.


Transfer of Propert

  • mbillyl
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31 Jul 12 #346377 by mbillyl
Topic started by mbillyl
Hi, I''ve recently received my Absolute so the only thing outstanding is the Consent Order. With regards to the property there is little capital in it which I have no interest in taking a share of, my ex and I are happy that my name for the time being stay on the mortgage so that she along with our children, her new partner can stay there, the only thing I''ve asked for is an indemnity which does form part of the CO, my Q is the draft states that I have to transfer all legal and beneficial interest subject to charge, how do I do this or do I need to do nothing as without my name on the mortgage she and her new partner cannot take the property over as per the mortgage co?
Thanks

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31 Jul 12 #346380 by dukey
Reply from dukey
You make the transfer by completing TR1 which your solicitor will do for you.

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31 Jul 12 #346384 by mbillyl
Reply from mbillyl
Thanks, I don''t have a solicitor, it''s all been v amicable, can I still do this as the mortgage company won''t give her or her partner jointly a mortgage to the value required for them to stay in the property?

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31 Jul 12 #346387 by dukey
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If the order states you must transfer ownership then you must do it, and it will almost certainly have a time limit for compliance, you will need a solicitor to do the transfer.

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31 Jul 12 #346390 by mbillyl
Reply from mbillyl
Any suggestions? It''s unsigned and not what we''d agreed, we''d agreed at a point in the future TBC and then within a reasonable time frame, in the meantime I just want indemnity from paying or debts incurred

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31 Jul 12 #346391 by dukey
Reply from dukey
No one should ever sign a Consent Order without first taking it to a solicitor to have it explained, yours is a classic problem, you thought it was a done deal only to find its not what you really thought.

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31 Jul 12 #346394 by mbillyl
Reply from mbillyl
Thankfully it isn''t signed. I''m aware of others where the partner remains in the property but all other finances have been agreed with caveats that if ''x'' ''y'' etc occur then the property has to be fully transferred, there must be a solution to this (I hope) ?

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