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Legal position regarding mortgage?
Right this is complicated, so please bear with me.
Almost two years ago I suggested to my ex husband that if he paid for the cost of it and took my name off the deeds and mortgage of the house, I would be prepared to walk away from our marital home with nothing. He agreed to this and put the wheels in motion, so I have in my file a letter from his solicitor asking me to confirm that I was in agreement to this, but this is all I have in relation to it.
My ex has always been atrocious with his finances, and has a real debt problem whereby he constantly spends beyond his means and has remortgaged several times to repay his credit cards and overdrafts when they become unmanageable - this is one of the reasons I walked away from the house, it has no equity left in it and wasn't selling, and to be honest I needed to make a clean break before he dragged me down with his debts again.
Our divorce was finalised in October this year - 18months AFTER I left the marital home, he had by this point moved his new partner in the house. He hasn't however, managed to secure a new mortgage in his name, removing mine from the loop to so speak.
This year he's apparently had to take a pay cut (but he was already on £70k+ per annum), however, he's still decorated most of the house with his new partner, including new carpets an furniture and not just a fresh lick of paint, but it appears that he has money flow problems again (my 17 year old daughter informed me last night that he's trying to borrow £200 from her).
My worry, and therefore my question is this ... what is my legal position and responsibility for his debts (ie the £240k mortgage and millstone of a house) if he ends up in the proverbial again with his finances? Bearing in mind that I left it almost two years ago, and his new partner moved in 6 months ago, and I'd already asked him to take my name off the deeds and mortgage?
I'm expecting most of you to say go see a solicitor - which I'm intending to do in the new year, but could do with some idea of my position BEFORE then. So any solicitors reading this section ...
3 Answers
- Jackie MLv 71 decade agoFavorite Answer
UK -you will have to speak to the mortgage lender and prove that you have been away for a few years, when did you get the letter from his solicitors asking if it was true that you gave the house to him and to have your name removed? if it was when you left then you are ok but if it is recently you will have to prove that you agreed at the time you left for your name to be removed, legally you are still joint owner and responsible for the mortgage.
- Anonymous1 decade ago
You need to contact the mortgage lender to see if you are still detailed as a borrower on their records. If you are they will have to provide you with this information. I think you also need to discuss the situation with them. If your ex has borrowed money with a secured loan without your knowledge or permission then I think there are significant issues that need to be discussed.
- 1 decade ago
Contact Clarkhoward.com for free advice. There are no gimmicks at this site. No cost to you. FREE and unbiased. Clark Howard is a consumer advocate that I listen to on radio during the week.It is a call in show and he is also on HLN cable. He is great!!!