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Thomas, Lawyer
Category: UK Law
Satisfied Customers: 7617
Experience:  BA (Hons), PgDip, Practising Solicitor
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Good morning, I currently have some credit card bills that

Resolved Question:

Good morning,
I currently have some credit card bills that I am struggling to pay.
1/ My wife and I jointly own the house, should I transfer the ownership of the house to her, she does not have any debts.
2/ If so, how do I do that and what costs are involved
Many Thanks
Submitted: 6 years ago.
Category: UK Law
Expert:  Thomas replied 6 years ago.

Hi Nick,


Would you be transferring the interest in the house in the hope that it may avoid your creditors enforcing their judgement debts against the property?


Customer: replied 6 years ago.

Hi Tom


Yes that's the idea.


I am trying to pay off the debts, but it is slow - I am semi retired. have a company pension plus a therapy practice, which is c osting me money rather than giving me an income.



Expert:  Thomas replied 6 years ago.


Thanks for your reply.


That would not be a good idea. The Courts have very wide powers to set aside transactions that are taken with a view to, in effect, defrauding creditors by transferring interest in assets to other persons at an undervalue.

It would be very easy to establish when this transfer was done by checking Land Registry records and the creditor would make an application to Court to have it set aside. The costs of the application would also be added to the debt so it would in fact compound the problem if such action was taken.


It is important to note that they can only claim against your interest in the property, not your wife's - that is protected.


I would instead focus on engaging, so far as that is possible, with your creditors about repayment plans. Creditors more than anything hate debtors burying their head in the sand and not attempting to deal with the debt.


Sorry it could not be better news if this is useful please kindly click accept so that I may be rewarded for my time. You will be free to ask follow up questions.

Kind regards,


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