As part of a court order for divorce I was awarded title deeds of the marital property providing I make all endeavours to transfer the mortgage in my name. The bank will only agree to transfer title not mortgage. Instead of just accepting that he has now refused as he would still be on mortage and is now saying he will be looking to go bankrupt.
There is little equity in the house, i have 2 kids dependent on me, I am soley paying the large mortgage left behind by his stupidity.
I have been to other advisors and banks all saying i wont get a mortgage.
Spoke to his sols again, she is saying in my best interests due to his potential bankrupsy.
Question - how likely is is it creditors will over turn? what difference does it make to be in terms of the mortgage if he goes bankrupt and still in joint names but deeds in my name? Is there anything I can do to protect the house given I was awarded it in the court order at which point he had declared he was solvent?
How long ago was the court order? TBH, if there isn't any equity it won't affect your home- worse case cenario you would pay 50% of the equity there is but I think the facxt that there's a court order is in your favour.
transfer of title deeds
Posted - 09 May 2012 : 15:17:10
