I am hoping someone can help me with some answers to my questions.
There was a judgement registered against me in 2011 for a failed property investment (not the family home). I have always managed to keep the family home up to date with mortgage repayments so there are no issues with that at all. However I will be getting divorced next year and my ex wife and myself have agreed to sell the family home.
What is the difference between a judgement and a judgement mortgage?
Can I transfer ownership of the family home to my ex wife?
If I don't transfer ownership will my proceeds of the sale (after clearing the remaining mortgage amount) go directly to the bank that has the judgement against me?
My ex wife had no part in the property investment at all and therefore has no judgments against her. Will her share of the proceeds of the sale be safe?
I plan to draw down my pension in 7-8 years. Will that be safe from the bank?
Lots of questions I know but I hope someone can give me some advice.
There was a judgement registered against me in 2011 for a failed property investment (not the family home). I have always managed to keep the family home up to date with mortgage repayments so there are no issues with that at all. However I will be getting divorced next year and my ex wife and myself have agreed to sell the family home.
What is the difference between a judgement and a judgement mortgage?
Can I transfer ownership of the family home to my ex wife?
If I don't transfer ownership will my proceeds of the sale (after clearing the remaining mortgage amount) go directly to the bank that has the judgement against me?
My ex wife had no part in the property investment at all and therefore has no judgments against her. Will her share of the proceeds of the sale be safe?
I plan to draw down my pension in 7-8 years. Will that be safe from the bank?
Lots of questions I know but I hope someone can give me some advice.