separating from partner.what happens to house?

M

mammamia31

Guest
im separating from my partner. we have a two year old daughter and only have house 2 years. he is unemployed. i am a teacher. i dont want to leave the house. the value of house has decreased by about 40,000. how do we go about getting his name off mortgage?? is he entitled to any money from me??
 
talk to your solicitor but if I can take it that you are now in negative equity then it may just be a case of one trip to your solicitors office to have his name taken off the title & mortgage...the bank will have to be satisfied, I'm fairly sure, that you can support the mortgage repayments on your own income..I don't thinik he will be entitled to any money if the house is in negative equity but again talk to your solicitor...best of luck
 
"then it may just be a case of one trip to your solicitors office to have his name taken off the title & mortgage"

I doubt it!

Unless the parties are in agreement as to what is to happen and both deal with it, then it is either a matrimonial case ( if they are married and separating) or a Partition case ( if they are not married and separating).

And yes, the bank will need to be a party to any deal.

mf
 
There may also be issues relating to purchases made for the house whether they came from his money or yours, also which of you paid the deposit will have a bearing too.
 
If i split from my partner in the morning i wouldn't mind walking away and getting my name off the mortgage. House cost just over €200,000 and only worth about €165,000 now. Some of that negative equity is his aswell and you should not let him walk away from it.
 
Why is it assumed he will be happy to leave the house?
How about he stays in the house and you leave ?

I don't want to leave the house, is not reason enough for him (or you) to lose his/your home.
 
he could insist on the house being sold though which is something to keep in mind in your discussions, you will have to weigh up that possibility against the moneys. also getting bank approval for just one name on the mortgage could prove rather difficult, you should check that out before you do anything else.
 
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