transfer of mortgage into sole name

[steshaw89]

my wife wants the house transfered into her sole name as a part of our divorce. i no longer reside there , and she is on benefits and cannot work.our 2 children live there also.she pays a minimal amount of mortgage per month and the d.s.s pay the rest of the interest.she is currently in arrears. i have been told i cannot take my 30percent of the value of the house and cannot have a deferred sale.if i accept,can the house be repossessed so i can see my 30percent

[lady_p_gold]

Well this is quite complicated ... are you getting any legal advice re the divorce ? Who has told you that you cannot take the 30 percent of the house and who arrived at that figure anyway ? There are lots of other aspects too, such as why you are unable (and of course there may be a genuine reason) to cover some of the mortgage or give her any maintenance. Leaving the DSS aside for the moment, both of you own all of the house and you have an interest in it. Why is she in arrears ...... etc. etc. The best thing would be to try and clear the arrears somehow and then go from there, well that is pretty obvious, but you are also responsible for the arrears too and if you want to keep your asset then you need to speak to everyone possible about it. If you are both on the mortage then I presume she would have to renegotiate that and who would lend her the money under such circumstances ? You both need legal advice I would suggest going to the CAB. You have an interest in any equity that remains after sale, repossession or divorce.

[lady_p_gold]

Another thing that just occurred to me is that if it was in fact repossessed and she had some equity out of it herself, then that might make her have too much money to receive benefits but I do not know what sums we are talking about.