partners ex name on house,hasnt made payments

lifeandtimes

Hey,

Can anyone lend me some experience on this matter.

I currently leaving with my partner and children.

My partners took out the mortgage with the ex a few years ago, the ex paid half the deposit and made one payment(their half of the monthly mortgage payment) and their relationship broke down and they left.

For the last few years they have not made payment what so ever towards the house and there is proof as they was originally a joint bank account were the mortgage was paid from but this was change to my partners.

We will soon enough be looking to have me added on the house and have the ex removed, however in interim I'm wondering does the ex have any case towards receiving anything from the house other than his name on it?

I know the ex cant push a sale as children leave there but seeing as he hasn't made any payment bar one will that look bad in court if it ever gets there?

I understand that the best way to do things is have the ex sign documentation that they will not look for any part of the house and give them their deposit back and month they paid which would only be fair.

does anyone have any experience in situations like this and what happened, im sure it must be common enough were a couple break up after getting a mortgage together.

Thanks very much

Ken.

This pretty much explains your situation. http://www.irishhouses.ie/house-rent-articles.php?county=Dublin&id=52

Removing A Name From A House Mortgage

Your original house mortgage application may have been made and approved as a joint mortgage. Due to separation or divorce, you may now wish to have the mortgage entirely in your own name.

To remove a name from a joint mortgage agreement involves the consent of both partners involved in the mortgage.

In addition, the mortgage lender must agree to the removal of the other name. They will probably not do so unless they are sure that the remaining name on the mortgage will be able to repay the mortgage based on their own resources.


This article is only intended as a basic general summary and you should always seek professional advice where necessary.

lifeandtimes

ken wrote: »

This pretty much explains your situation. http://www.irishhouses.ie/house-rent-articles.php?county=Dublin&id=52

Removing A Name From A House Mortgage

Your original house mortgage application may have been made and approved as a joint mortgage. Due to separation or divorce, you may now wish to have the mortgage entirely in your own name.

To remove a name from a joint mortgage agreement involves the consent of both partners involved in the mortgage.

In addition, the mortgage lender must agree to the removal of the other name. They will probably not do so unless they are sure that the remaining name on the mortgage will be able to repay the mortgage based on their own resources.


This article is only intended as a basic general summary and you should always seek professional advice where necessary.

thanks ken thats really helpful.

I see thats its up to the lender to agree to this and want to make sure they still receive their payments, im wondering do you think its easy enough then to remove and add a name to the mortgage or is that basically trying to apply for a new mortgage, sorry for questions ,im a bit clueless at this

sbsquarepants

I was in a similar situation a few years back, luckily I wasn't too worried about my ex coming and staking a claim or anything - but there are tax considerations even if it's all amicable. When equity is transferred from person a to person b the tax man views it as a gift, you use to own half of 100k equity you now own it all that's a gift of 50k you just got. That works in reverse also, by that I mean if one party is released from negative equity.
In my case, I got the house valued and it so transpired that the house was worth exactly what was owed on it! So seeing as no equity moved in either direction there was no tax bill for either party, I don't know how feasible that would be to prove in your case, or how closely the tax man is likely to scrutinise what you tell him - I got lucky with the timing and it wasn't a million miles away from the truth anyway.

lollsangel

Have been there. Bought a house in 2002. The relationship broke down in 2008. I left the house. I had paid most of the bills, mortgage etc. When I left I didn't pay a cent towards the mortgage. Wasn't paying for something I didn't have use of. I got a decent bit of money towards the house. The bank had to go back through the mortgage etc before allowing it to go through. Hope this helps

whippet

lifeandtimes wrote: »

thanks ken thats really helpful.

I see thats its up to the lender to agree to this and want to make sure they still receive their payments, im wondering do you think its easy enough then to remove and add a name to the mortgage or is that basically trying to apply for a new mortgage, sorry for questions ,im a bit clueless at this

in essence, you will have to discharge the existing mortgage and apply for a new one.

There will be a multiple of factors which will determine if this can be done and the willingness of the bank to facilitate it.

crucial will be:
- is the property in negative equity (if so it would be highly unlikely that the bank will issue a new mortgage covering the balance remaining on the new one without the collateral to back it up.

- will the ex be willing to play ball? if not it could take a long expensive legal battle to get the agreement (voluntarily or not).

- If there is equity in the property (as in the value of the property is more than the outstanding mortgage) the ex. could quite possibly have a legal entitlement to 50% of this equity should the mortgage be discharged or the property sold (generally the repayments etc have no bearing on this entitlement as the property is owned jointly regardless of who pays the mortgage)

Best advise is to speak with a solicitor and see what options you have.