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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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DIY Transfer of Equity?

  • maggie
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16 Sep 12 #356174 by maggie
Topic started by maggie
The judge accepted our draft Consent Order so we can now transfer my ex''s share of the FMH to me [instead of him continuing to pay reduced spouse maintenance.]
Is this called "Transfer of Equity"?
The judge said it was possible to do our transfer ourselves by each proving ID according to LR rules - that seems to involve going to a LR office ?
www.landregistry.gov.uk/_media/downloads/forms/ID1.pdf
and completing downloadable LR forms... looks like TP1
www.landregistry.gov.uk/_media/downloads/forms/TP1.pdf
Bits of the form look hard - eg the last box "Execution" -
doing it via a conveyancer looks easier
but I found this on a solicitor''s website:
"Basic fee, for transfer of un-mortgaged freehold property without payment to the departing owner, no new owner and with no new mortgage: £250 (+ VAT + disbursements)"

Anyone done DIY Transfer of Equity?
Is it false economy?

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16 Sep 12 #356175 by dukey
Reply from dukey
It can be done without a solicitor but personally i think its bonkers to try, TR1 not so bad, but this is much more.

I don`t know what the wiki solicitors charge but it would be worth asking, Maggie the guy to talk to is LMM, this was his job as a solicitor, i would ask his advice.

If you do buy a service on line make dam sure you know who they are and if there are hidden costs.

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16 Sep 12 #356189 by maggie
Reply from maggie
Thanks again Dukey.
My ex agreed to pick up the tab but as he looked so wrecked and the judge suggested DIY I thought I''d look at it.
I''m wary of anything done cheap/free when it comes to property - tends to unravel at critical moments?

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16 Sep 12 #356191 by dukey
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I know you have your head screwed on Maggie, the warning is more for others who may read it, £250+ sounds too cheap to me, the practices i know usually charge around £600.

Beware some of these online guys who hook people with a too good to be true price, just the same as these dodgy online divorce services you see for the same price as a decent bottle of plonk, a woman new to wiki paid £65 for a divorce, she is now at £700 and still no progress.

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16 Sep 12 #356218 by Shoegirl
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I am paying 300 plus Vat fixed price for my conveyancing work.

Nothing dodgy, local high street solicitor, qualified and registered.

My advice is to shop around, some solicitors were happy to take three times as much as that from me for the same work,

If you look back at my old posts there is something in there where I asked others what they had paid for conveyancing for transfer of the house.

Good luck.

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16 Sep 12 #356236 by dukey
Reply from dukey
This is more than title transfer, that''s a simple TR1, but do let us no if your title transfer ends up costing more than they said.

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16 Sep 12 #356243 by Shoegirl
Reply from Shoegirl
Perhaps you can help me out here then Dukey.

I have to transfer the equity with the building society and to do this, I need to complete the conveyancing work. Its cost me £150 with the building society and conveyancing is as stated.

Am I missing something?

In my case it''s fixed price, sols can''t charge me any more. I''ve been very careful in this regard.

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