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Joshua, Lawyer
Category: UK Family Law
Satisfied Customers: 25358
Experience:  LL.B (Hons), Higher Prof. Dip. Law & Practice
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Can my husband transfer equity to me without my consent. Will

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Can my husband transfer equity to me without my consent. Will the mortgage provider just give their consent without checking I can pay the mortgage?

Josh-2010 :

Thanks for your question. Please kindly RATE my answer when you are satisfied

Josh-2010 :

Do you know exactly what your husband has signed please if anything?

Customer: No. He won't tell me either. I have asked and he's just laughing saying its all my problem now.
Josh-2010 :

Thanks. Are or at least were you joint owners of the property in question?

Customer: We have a joint mortgage.
Josh-2010 :

Thanks. It is not possible to stop someone gifting or transfering equity to you. If this happens and the unlikely event you don't want it after all if you you can give it away or disclaim it. It is rarely an issue in practice as people are usually pleased to receive such gifts. However this is not what we are talking about here because from what you say the property is in negative equity. By definition one cannot transfer equity in a negative equity property because there isn't any.

Josh-2010 :

What I presume your husband is trying to do is transfer his liability for the debt under the mortgage.

Josh-2010 :

By contrast this is not possible without your and the mortgage lenders consent. From what you have said you have not given your consent and in any event it is highly doubtful that your mortgage lender would allow your husband to remove himself from the mortgage when the property is in negative equity even if you were to agree.

Josh-2010 :

To reassure yourself you may wish to check with your lender that nothing has changed but there is no legal way for him to assign debt liability to you without your permission. Under the mortgage you are jointly and severally liable for the mortgage which means he is equally liable with you.

Josh-2010 :

Is there anything above I can clarify for you?

Customer: That really helps loads. Thanks for saving me from a sleepless night worrying about it
Josh-2010 :

A pleasure.

Josh-2010 :

If I can assist any further as the situation develops please do not hesitate to revert to me

Josh-2010 :

If you have no further questions for now I should be very grateful if you would kindly take a moment to rate my service to you today. Your feedback is important to me. If there is anything else I can help with please reply back to me though.

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