• How Do I Transfer My Property To My Wife During A Divorce?

    By Guest on 29th Sep 2016

    My wife and I intend to get divorced amicably with a 50/50 split of the marital home which is solely in my name and has been valued at £240,000. The mortgage is also in my name and there is £20,000 left to pay. We have agreed that she will get a mortgage to pay me £130,000. I will use £20,000 of that to pay the mortgage off which will leave me £110,000 to go towards a new property for me. She will be left with a home valued at £240,000 with a £130,000 mortgage and £110,000 equity. Can you please advise on what we need to do next and can the transfer of the property to my wife take place before the divorce is completed, assuming we have a consent order where the finances have been agreed?

  • 1 Answers

    By Guest on 21/11/2016

    There is no reason you cannot transfer the property prior to completion of the divorce unless there already a court order in place directing you to do something else. Of course, a court might subsequently order that you give some of the £110,000 to your wife or that she realises more equity from the property and makes a payment to you. In terms of the process of the transfer, your wife will need to instruct a solicitor (her new lender will insist) and the solicitor will sort out the paperwork. They will recommend that you instruct a solicitor as they cannot act for both of you and whilst this is the correct advice, you are not obliged to.

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