• Declaration Of Solvency

    By Guest on 19th Mar 2015

    My Husband and I are divorcing. He has agreed to sign over the matrimonial house to me and as the valuation equals the remaining mortgage payment, no monies are changing hands. it has taken 3yrs to get to this place and suddenly he has advised he cannot sign the declaration of solvency required by my Banks' Solicitors as he cannot agree to the points on the form. I understand him to be in major debt so assume this is the reason. where do I go from here? Thank you

  • 2 Answers

    By Guest on 12/10/2016

    If you are paying market value for his share then him becoming insolvent does not present a risk. You should have the property independently valued. If you are not paying market value then there is a problem. If the current lawyers don't understand the situation (many remortgage departments at law firms are staffed by non-lawyers) switch to another firm

  • By Guest on 10/01/2020

    I am gifting the proceeds from the sale of my house to my nephew.to enable him to buy a property. Now his conveyancer is demanding a Declaration of Insolvency from me!! Why is this?Totally confused. HELP!!

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