I have a freehold house owned jointly by me and my wife. My wife and my two children (age 15 & 17) live there. I am divorced but I am responsible and pay mortgage of the house. Can I transfer my property share to my wife without any consideration ? If so what will be the consequences ? Will creditors still take the property from my wife and children ?
If you are thinking of going bankrupt, then you would not be able to transfer the property to your wife as it would be below value and the OR would reverse the transaction.
Have you not made any financial settlement after your divorce, I take it you mean ex wife is living in the house? If so, I would advise you see a solicitor asap & take their advice re a settlement.
I have a freehold house
Posted - 27 July 2009 : 10:41:12
