Crosswords5 mins ago
Wording for shared ownership of a house
We are getting is sorted officially via wills etc but as a stop gap can someone give me the rough wording for a document that states that : Although A is the deed holder and the only person on the mortgage, B has a 50% interest in the property.
basically my OH and I bought a house together (which is rented out - we live in my house) but as I already have a mortgage it was done in his name solely.
I just want a letter that signed by him, that shows my 1/2 interest. We are going to be talking to a solicitor re our wills but I just want this as a stop gap to tide us over until it is all official. I am working on the premise that something is better than nothing!!
basically my OH and I bought a house together (which is rented out - we live in my house) but as I already have a mortgage it was done in his name solely.
I just want a letter that signed by him, that shows my 1/2 interest. We are going to be talking to a solicitor re our wills but I just want this as a stop gap to tide us over until it is all official. I am working on the premise that something is better than nothing!!
Answers
Best Answer
No best answer has yet been selected by Maggoty. Once a best answer has been selected, it will be shown here.
For more on marking an answer as the "Best Answer", please visit our FAQ.Understand this - only those who are owners of the property can be named on the mortgage. Someone who is not an owner cannot ever take out a mortgage on the property. Despite what you understand, no other legal postion can exist. What you are actually saying is that he bought the house with a mortgage he arranged and he alone is committed to. You now want to take a half share in the ownership and, consequently, the morgage commitment. You are actually now seeking to formalise a private agreement you made between yourselves. This will require the concurrence of the mortgage lender. Good luck.
Related Questions
Sorry, we can't find any related questions. Try using the search bar at the top of the page to search for some keywords, or choose a topic and submit your own question.