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Thomas
Thomas, Lawyer
Category: UK Property Law
Satisfied Customers: 6392
Experience:  BA (Hons), PgDip, Practising Solicitor
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My husband and I own a property business, we have remortgaged

Customer Question

My husband and I own a property business, we have remortgaged 3 properties that were in both our names and my partner has asked me to sign the title deeds of the properties over to him for the remortgage for ease of paperwork. He has told me that it makes no legal difference to me as his wife I would automatically get 50% of the property should we part ways. Could you please advise
Submitted: 3 years ago.
Category: UK Property Law
Expert:  Thomas replied 3 years ago.

Hi

Thanks for your question.

To enable me to answer your question could you please respond to the following:-

  • 1. How long have your been married please

Kind regards.

Tom

Customer: replied 3 years ago.
4 years
Expert:  Thomas replied 3 years ago.

Hi,

 

Thanks.


Who brought more capital/assets to the marriage please?

 

Tom

Customer: replied 3 years ago.
Husband
Expert:  Thomas replied 3 years ago.
Hi,

Significantly more?

Kind regards,

Tom
Customer: replied 3 years ago.

yes, property business built up while we were married using husbands capital. Sorry Tom the question I am really asking is would I be foolish to just sign over the Tenancies. Or does it really have no bearing on anything. Really would appreciate a prompt response as asking the question is making me very uncomfortable but we have a little girl and although everything is good I dont want to make a mistake.

 

Many thanks

Expert:  Thomas replied 3 years ago.
Hi,

Thanks for your question.

There is no advantage in your coming off the titles to the properties/mortgages. It is easy practically for you to stay on them in terms of any remortgages or sales that are subsequently arranged since you will only have to sign the relevant land registry forms.

If you signed the properties over to him he could deal with them as he wishes, so you would lose a lot of control.

There is a presumption in matrimonial settlement that each party retains a 50% interest in the matrimonial assets, this can be rebutted if one party brought more to the marriage and the marriage is classed as a short one. If you stay married for another 4/5 years I would expect the Court not to depart from 50%.

If this has been useful please kindly click accept so that I may be rewarded for my time. If you do not click accept your money stays with the site and I do not receive any credit for the time I have taken to answer your question.

I will answer your follow up questions you may have.

Kind regards,


Tom
Thomas, Lawyer
Category: UK Property Law
Satisfied Customers: 6392
Experience: BA (Hons), PgDip, Practising Solicitor
Thomas and other UK Property Law Specialists are ready to help you
Customer: replied 3 years ago.

Thank you Tom

 

 

 

 

Expert:  Thomas replied 3 years ago.
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