I see you have not had an answer so I will try. If my wife agrees to sign the deeds to our house over to me, does she have any legal ownership of the property?
Answer : she only ceases to have legal ownership of the property when she executes a formal transfer and you register it at the Land Registry. So in short im asking if she signs the deeds and I give her all the cash agreed will she be off the books, so to speak?
Answer : She will no longer be an owner of the property, if that''s what you mean. Then when my mortgage deal comes to and end I can just find a new deal without her name on it - job done?
Answer : a transfer of the property does not of itself release her from the mortgage. However I''d be surprised if the terms of the terms of the Consent Order did not impose an obligation on you to get her released from the mortgage. If, as you say, you raise a new mortgage to buy her out, that will will redeem the existing mortgage and her liability ends - as indeed it ought to.