Do I need to divorce to take her name off the mortgage?

M

Martyboi

Registered User
Messages
2
Hello there.
Please help me. My wife of 9 years moved out with our 6 year old daughter, leaving myself and my 14 year old son (from a previous relationship in the family home).
She is currently renting a property but is finding things harder than she expected.
She now wants her share of the equity in the house (approx. 30k total equity). I have no qualms about this but she has been advised by a solicitor that to do this she needs to begin divorce proceedings. Is this correct?
I need to respond to the letter I have received from her solicitor but in no way can I afford to hire a solicitor and refuse to get into debt via this method as I know I will have to remortgage already to pay her what she is legally entitled to.
Please advise me as I am worried sick about paying upwards of a further 5k solicitors fees. Any feedback will be welcomly received.
 
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Brendan
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Hi Marty,
Not sure if you already changed the title of your post or not?

It sounds like your wife is pushing for a divorce and wants to accelerate things. I would be very careful if I was you. Don't rush into anything.

Can you clarify: you're saying you do have a mortgage outstanding and it's in both names? But if you were to sell the house at today's values and pay off the mortgage you'd be left with 60k profit, and that's where the figure of 30k equity is coming from?

Yes it's true that as part of divorce proceedings the ownership of the house will be sorted out. But I don't think it's true that you have to initiate divorce proceedings in order to sort out the house. A house in joint ownership can be sorted out in a couple of ways - which Brendan has outlined already in his key posts so read those.

The first thing you need to do is to fill in an application which both parties sign, and see if the bank are willing to transfer the ownership of the house into your name alone. If they are not willing to do that, and the house deeds will remain in both names then don't dream of giving your ex 30k.

It can only be a pay off in the event of the bank agreeing to transfer the house into your name alone. Otherwise you could give her 30k now, and then in 10 or 20 years time she could come back and claim half your house.

Also - you're not obliged to get a solicitor or reply to that letter. The only thing you're obliged to do is if you get summoned to court, you have to turn up. She may summon you for maintenance so be prepared for that. You in turn might summon her for access - both cases can be heard on the same day in that case.
 
In case you're not already aware; in Ireland, divorce proceedings can't begin until a couple have been separated for 4 years.
 
Marty do you actually have 30K to give to her? Where is the valuation coming from.

Who bought the house, and who paid the mortgage and household expenses.
 
Thanks for the advice, it's greatly appreciated.
In total there is approximately 30k equity, meaning a 15k payout would be required.
I received a letter from her solicitor stating a response from my solicitor was required within 7 days.
I responded simply my phoning this solicitor to inform them I had received this letter
To be honest I don't think either of us want or need this divorce at present due to the excessive costs involved and that she may have been given false information by her solicitor as I can't find anything saying that to buy a spouse out of a mortgage arrangement has to be done in conjunction with divorce.
 
Assuming for simplicity the main goal here is to get her name off the mortgage and deeds then I could see where the divorce bit would come in or at the very least a separation agreement. Married couples pretty much cannot borrow for the family home in sole name so in reverse the bank is unlikely to remove one party from the mortgage without the required separation agreement dealing with the property/financial issues. Removing her from the deeds is simpler but presumably not what is wanted as that gives none of the advantages and all the disadvantages.

This is assuming that the first hurdle of whether or not the bank will agree to the mortgage in your name has been sorted, if you do not fit the current underwriting criteria for the amount of your mortgage then you are going nowhere with this and equally she hasn't a hope of being taken off the mortgage by the bank.

Check that out first with the bank.
 

would you mind to list advantages and disadvantages?
 
The disadvantage is that you are liable for the mortgage but don't have the advantage of owning the house.
 
You need to heed Gipiman's advice, she can't apply for divorce now! You haven't been separated long enough.
 
Martyboi.

There is no requirement to reply to a Solicitors note .
That is all it is, a NOTE.
.......................................................................
If you receive an Actual Court Summons you must appear.
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It seems that if she receives k15 she will leave the house with you.
It seems she is presently in financial trouble.
Experience tells me , after this k15 , she will be in financial trouble again in the future.
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Can you get her k15?
If so, you will need good advice to see if the k15 can effectively be seen as closing her rights on the house. Since you will continue to pay mortgage etc , her future claim in fairness (not maybe in law) would be weakened.As Bronte asks , who pays the bills on the house etc. The payer has a stronger hand.
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If you cannot get the k15,
Tell her you do not have access to k15.
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